It’ll take some time for the crypto ecosystem to fully recover after being impacted by the harsh bear market of 2022 and the recent FTX fiasco. Some believe it could be years. However, there have been small price gains across the board as some of the most heavily impacted industry players, such as Near Protocol (NEAR) and Algorand (ALGO), attempt to reclaim their wiped-out value.
There are also other players like Snowfall Protocol (SNW), that have remained unaffected and have performed admirably throughout the saga. While the rest of the crypto ecosystem has been sinking, Snowfall Protocol has seen a 600% increase in price—a nearly impossible feat in a bear market. And, while Near Protocol (NEAR) and Algorand (ALGO) are poised for 10x and 20x returns, Snowfall Protocol (SNW) is set to outperform them by a wide margin. Market analysts predict 1000x returns for Snowfall Protocol.
Near Protocol (NEAR)
Based on market data from November 29, 2022, a technical analysis report by market forecaster CoinCodex shows a rough time ahead for the layer-1 blockchain Near Protocol and its native token NEAR. The report shows three technical analysis indicators indicating bullish signals and twenty-five indicating bearish signals.
As of November 29, Near Protocol (NEAR) is trading at $1.60, a drop of more than 90% from its all-time high of $20.42 in January 2021. Despite gaining 4.78% on the day, Near Protocol (NEAR) is still trading below its 200 and 50 simple moving averages (SMAs), both of which indicate bear dominance. The Relative Strength Index (RSI) indicator value is 27.2. An indicator that the price of NEAR is oversold (below 30 value). The RSI indicator predicts a further fall in the price of NEAR.
What’s more, NEAR is trading near a key support zone of $ 1.51. A break below this level would cause NEAR to fall to $ 1.43 and then to $ 1.38 support levels. The nearest resistance level is $1.64. Other resistance levels are $ 1.70 and $ 1.78 resistance levels.
Algorand (ALGO)
Another prediction from CoinCodex for November 29, 2022, predicts red holidays for Algorand (ALGO) holders. The bearish sentiment for Algorand (ALGO) is derived from a comparison of five technical analysis indicators signaling bullish signals and twenty three signaling bearish signals—strong sell.
Algorand (ALGO) is currently trading at 0.2836, up 2.56% on the day. This represents a 0.66% drop in the last seven days and a 29.97% drop in the last month. The decreasing value of Algorand results from the negative market sentiment overpowering all positive developments and anticipation build that came with the ongoing FIFA World Cup. Since the network partnered with FIFA as one of the event sponsors, the value of Algorand (ALGO) has been rising in recent months.
Algorand (ALGO) is currently trading below its 200 and 50 simple moving averages (SMAs). The Relative Strength Index (RSI) indicator is currently at 35.80 indicating that the Algorand (ALGO) market is neither overbought (above 70) nor oversold (below 30). It is in a state of neutrality.
Holders of Near Protocol (NEAR) And Algorand (ALGO) Are Cutting Their Losses and Participating in Snowfall Protocol’s (SNW) Pre-Sale.
Snowfall protocol (SNW) has seen incredible growth since its presale campaign began. Snowfall Protocol (SNW), currently trading at $0.75 in the second stage of the presale campaign, has grown exponentially from $0.005 in the first stage of the campaign. In just two rounds of the presale, the price of Snowfall (SNW) has increased by 1200%. As the second stage enters its final day, snowfall (SNW) is expected to increase by 150%. Snowfall (SNW) will undoubtedly see more price increases during the third stage of the campaign.
Post launch, Snowfall is expected to do wonders. Market analysts believe that being a low-cap altcoin with huge potential, Snowfall Protocol (SNW) will easily amass 5000% returns during the bull run.
Register for the ongoing presale to become a member of the Snow Army and enjoy juicy ROIs! Presale at: https://presale.snowfallprotocol.io
More information about Snowfall Protocol (SNW) at:
Website: https://snowfallprotocol.io
Telegram: https://t.me/snowfallcoin
Presale: https://presale.snowfallprotocol.io
Twitter: https://twitter.com/snowfallcoin
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
