Matic, Elrond and Celer Price Analysis: Binance IEO Coins Pumping

$1.65 tipped


Amid the recovery of the price of Bitcoin and the levels of market capitalization, there are some tokens that have had a respectable performance during the week and in large part during the month of November. We refer to cryptocurrencies issued through the IEO Binance Launchpad program.

The main difference between an IEO and an ICO is that IEOs are made through cryptocurrency exchanges and not through an ICO smart contract. After completing the token sale, they enlist for the trade, providing liquidity for both IEO participants and all other users who want to trade the token.

Of the twelve tokens issued by the Binance exchange, during the day we see with great potential in the face of the purchase demand, how Matic Network, Elrond and Celer Network are presenting excellent numbers that require turning our eyes towards this emerging market.

Among the twelve Binance IEO tokens there is a current market capitalization of about $ 257.96 M, with Matic managing to represent the most successful case so far in this metric with 26.62% of the total of this market segment. Let's analyze the performance of the best Binance IEO token today.

Matic Network (MATIC)

Matic Network is a layer 2 solution for Ethereum that aims to provide significant scalability improvements for decentralized applications by using a modified version of Plasma with side chains based on Proof of Stake.

At the time of writing, the Matic token is trading at a spot price of $ 0.027427, with a positive change of +13.97% in the last 24 hours and a market capitalization of about $ 68.93 million dollars that keep it in the 66th position of the general ranking of classification.

351665157-f963742c5cd19f4a9caf5d4159f49879a9faa4ef74db57c943c2ef211da9f46d.png

The price of Matic during the month of November has been excellent, with a profit of +124% since the token broke the strong support at the Fb levels at 23.6% located in the line of $ 0.01270.

Now the token during the month has generated an ascending rally that projects its next target at Fb levels to 61.8% in the area of $ 0.0296.

351665157-754abcb931494e8a37ec2642d2b5af2d954218fc3ec3d793c674e5c2a9943f37.png

The price in the worst case scenario could see a pull back that makes it descend towards the intermediate zone of $ 0.0191, coinciding with the projected cut midpoint and support point of Matic's last rally.

The token goes through a good time and the technical indicators indicate this. In the 1D chart for the MATICUSD pair in Binance, the Bollinger Bands have the typical amplitude of high volatility and the last sails have broken the upper band, bullish symptom of the token. Your support rests on BB's moving average at $ 0.015.

351665157-f0f7379b819c83c6d0cb5e294be7f1836ed591a98b3a940a2a47c4e87d7a6fbb.png

The Aroon indicator is bullish, with its green signal at the top of the chart and the RSI has broken the overbought zone with average levels of 80, due to the bullish moment of the token.

ADOPTION

Matic Network has shown during the month of November important progress on its road map and interesting announcements that have helped to better adoption and of course, greater demand for its token.

Recently they have generated an important campaign in the field of decentralized finance, «De-Fi» with Monolith to expand the use case in emerging economies for the protection of inflation and current cryptocurrency expenses with their token through VISA debit cards For the European community.

Its use is also extended to the field of gaming with Blokchain technology, by announcing its latest game called “Battle Racers“, an arcade racing game from Altitude Games for the Decentraland platform.

The sale of the season 1 of the game starts next Monday, December 2 until Friday 20 of the same month, with the sale of boxes containing exclusive pieces for the first season of the game, with a value that ranges between 0.03 ETH and 0.7 ETH, according to the selected design.

It should be noted that the game launched is one of the most publicized events in the season for gaming with blockchain technology, which includes key sponsors such as VISA, Binance and the Japanese giant RPG Multiplayer My Crypto Heroes.

In addition, Matic Network is undoubtedly the best token ranked in terms of performance for its ROI according to CryptoRank, with a 9.61x return of capital in terms of the starting price of the token of $ 0.00263 in Binance on April 25.

351665157-30ad61a5397f85125d16cb7b42424377f26075aa66949a45b8690e56fdba64d0.jpeg

And if we compare your profit based on the highest price hitherto reached by the token in May 2019 of $ 0.044339, the ROI is up to 17.19x profit, which places it as the best token with performance of the twelve issued by the exchange Binance through the IEO Launchpad mode.

Elrond Network (ERD)

Elrond is a novel architecture that introduces the State Sharding for practical scalability under the PoS consensus mechanism, which allows the efficient and competitive implementation of dApp and smart contracts for real-world use cases.

Its current price is $ 0.002180 with a positive performance of +1.17% and so far it has achieved the third best performance of the twelve currencies that comprise the Binance IEO, with an ROI of up to 3.31x based on its starting price and a 15.23x on ATH achieved a few days after its departure in July of this year.

351665157-93de6c203dc202e38a04d32543f27e2f0326ee7b389eebd4ce7fd0229eaee2d5.png

Its market capitalization is about $ 13.85M and is located in box 205 of the general cryptocurrency ranking.

The ERD price accumulates in the week a positive performance of +10.84% and part of that recovery is the result of having maintained a positive momentum after the correction of Elliot that began at the beginning of November from the Fibonacci base levels in $ 0.001239.

Now the price has bounced from $ 0.0017 to the key levels of 23.6% of Fb that if broken, could generate a profit of up to +24% if it manages to pass its immediate resistance to $ 0.00245 that allows it to complete the last projected Elliot corrective wave.

351665157-142a5258e29ee12840753851ce26fd7044b1d9942d064772db4b480a3af545d3.png

The worst case scenario could be for ERD not to break the resistance and return to its next support at the $ 0.0020 levels.

The technical indicators for ERD are quite optimistic, as can be seen in the 1D chart for the ERDUSD pair in Binance.

351665157-8146519f7a42372ed8f0383672da16dac8133f64383a71ef8ff2866ceba2ab98.png

  • Parabolic SAR shows a strong bullish projection, with its points below the ERD sails with a long projected positive slope

  • Aroon shows his two signals traveling parallel to the bottom of the graph. However, the fall of its bearish signal is more pronounced, which suggests that the token will continue to grow in its price for a few more days.

  • RSI travels at optimal levels with an average of 60 in the shopping area. Good entry point to get the token.

Celer Network (CELR)

Celer Network is a coherent new technology and economic architecture that brings the Internet scale to existing and future blockchains through out-of-chain scaling techniques. It offers the ability to scale billions of TPS outside the chain without trust, insurance and private.

Its current price is about $ 0.005147 with a profit of +4.24% in the last 24 hours, which has led it to accumulate its market capitalization by about $ 18.05M to remain in box 172 of the general cryptocurrency ranking.

351665157-6e43477297d1be6328944c1e0845c51c3fedfb316d6052418e7a96aad1201358.png

Although its ROI based on its starting price is not among the top five of Binance IEO, its price has grown in the last seven days a negligible +29.71%, after generating a promising ascending channel from the support of $ 0.0033 to Current levels If the price continues its upward trajectory, perfectly CELR could break the final Fb levels at 38.2% located at $ 0.00554, which could expand its current trajectory.

 

351665157-c8fe8aadf925d2bc7299a4d287d1c3d42e35bd1b9758e2a58b258f64421b7f7b.png

The worst scenario for the token would be to generate a setback towards the support levels established in the area of $ 0.00415, however there are no indicators yet that point to the short-term possibility of this behavior.

351665157-89586f3ae373704cfa5a697c2036f2c663a6417f34be358735c113eca72136d9.png

  • Aroon points out that the current upward trend is just beginning for the CELR token, so new highs are possible in the next few days

  • CMF tells us that the entry of money into the token market is expanding, with a strong projection at bullish levels

  • RSI is having a strong buying pressure from investors to enter the CELR market, which could lead to the break up to the overbought area.


daniejjimenez
daniejjimenez

Evangelist Blockchain Technology


Breaking: Bitfinex token IEO $1B USDT
Breaking: Bitfinex token IEO $1B USDT

ZHAO Dong, a stakeholder of Bitfinex (minority shareholder), allegedly revealed that Bitfinex will launch a token through an IEO (Initial Exchange Offering in English), and some leviathans have already subscribed to a value of $ 300 million

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.