Weekly Cryptocurrency Market Brief

The cryptocurrency market rebounded over the past week, after the previous correction which took place due to Bitcoin’s drop below $50,000. Notably, VeChain (VET) returned to levels above $0.20, which it is now holding as support. The last daily close on the printed bullish candle was the highest in the past ten days, and now VeChain is looking to break the resistance at $0.225, in its attempt to return to the previous high at $0.28, having undergone a period of consolidation over the past two weeks.

Tron (TRX) rose in price after its previous drop to levels below $0.10, which acted as a support at the Fibonacci golden ratio from the previous rise, as 3 red candles on the daily chart failed to close below this level. It is currently trading in the $0.12-$0.14 range and is looking to break the $0.14 resistance before revisiting its recent highs at just over $0.18. The outlook is bullish for Tron, which is currently operating at price levels not seen since January 2018.

Zcash (ZEC) is also on the rise, reaching the $260 level after falling to the $167 support level due to the previous dip. In similar fashion to Tron, the Zcash daily candles were rejected above the Fibonacci golden ratio at $190, failing to close below this level. This was the point at which the ascendancy in price began, as Zcash printed large green candles on the daily chart. Its next tests are the resistance at $260 and the last high it reached in April, at $300.

(إيضاح: تتناول المقالة المذكورة أعلاه مجالات صناعة الأصول الافتراضية بمعناها الأوسع، ويجوز ألا تكون عملاً تسعى البورصة العربية المحدودة (ABX) إلى الحصول على ترخيص لمزاولته.

 

لقد حصلت البورصة العربية المحدودة (ABX) على موافقة مبدئية من سلطة تنظيم الخدمات المالية لسوق أبوظبي العالمي (ADGM)، وهي حالياً بصدد إنهاء إجراءات الحصول على رخصة مزود للخدمات المالية. تهدف البورصة العربية المحدودة أن تكون الأولى من نوعها في المنطقة كمنشأة تداول متعددة الأطراف للأصول الافتراضية وأمين حفظ، تخضع للتنظيم والرقابة الكاملين، وتركز على المستثمرين من المؤسسات والأفراد على حدٍّ سواء).

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