• Last week, Bitcoin covered a 4.2% range before closing the week near $25825.21 - about 0.5% lower than the week's opening price.

• The altcoin marketcap dropped with Bitcoin, falling from $537 billion to $530 billion.

• Keep an eye on these three coins with upcoming events as Bitcoin consolidates between the June 2022 monthly gap and the June 13th, 2022 CME week opening gap.

Lemon Juice With Sauce

Render (RNDR), the Render Network asset, increased in price 6% in the last seven days, in the midst of a bear market, as reported by CriptoNoticias.

Last Monday, the token had a price of $1.35, while, during today, September 11, it was trading at $1.51. However, it has fallen in recent hours to $1.40, along with the entire cryptocurrency market.

One of the possible reasons for the increase in this crypto asset may be connected to the growing demand for chips for artificial intelligence and high-performance computing A100 and H100, manufactured by the company NVIDIA.

From our point of view, we see a long 📈 opportunity above $1.4441 and a short opportunity 📉 below the break of $1.4029. It should be noted that the price could fluctuate between $1.4441 and $1.4029, so it is important to do risk management.

Promoting Web 3.0 Technology

Astar (ASTR), the native cryptocurrency of Astar Network, stood out last week for being the one that appreciated the most of the main hundred in the market, while the majority gave losses.

Digital currency went from trading $0.05 to around $0.06 in the last seven days, registering an increase of more than 12%. Such a rise leaves ASTR trading again at levels it had two weeks ago, when it showed resistance in this area.

Astar Network presented on September 7 Astar Tech Stack, a tool for companies and other organizations to create their own networks and products. He detailed that this function has already been used by Japanese technology companies, such as Sony and Toyota in an incubation program on Web3.

At first glance and according to our personal parameters, we see an entry opportunity for Long 📈 well above $0.0829, but the probabilities indicate that it will follow a downward trajectory if it breaks the support of $0.05563 with the possibility of devaluation to $0.05249 📉.

One Of The Most Valued

SafePal Token (SFP), which is used for governance in the eponymous wallet, increased in price by 8% in the last 7 days, as suggested by the current CriptoNoticias report.

Its price went from $0.56 to $0.61 in this period. This made the cryptocurrency re-enter the list of the 100 assets with the highest market capitalization, ranking 99th at the time of this publication, according to CoinMarketCap data.

The news that boosted the price of SFP is related to an update to the wallet backed by the Binance exchange. This is the integration of Linea, a zkEVM rollup to scale Ethereum dApss. In that sense, the wallet now supports Linea's native tokens that will also be compatible with SafePal software, hardware and browser extensions.

Looking at the hourly chart of the cryptocurrency, we can see opportunity for trend continuation above $0.6379 📈. However, it is important to note that above that region there is a high liquidity situation. Contrary to the bullish trend, we see an opportunity to open a short position for the break of $0.5984 and until the support of $0.5357 📉.

Blockchain Outside Ethereum

Enjin (ENJ) is retracing early September's spike and dropped below mid-August's tight consolidation range. The price is testing possible resistance at the bottom of this consolidation range. This level has three overlapping daily gaps containing 9 and 18 EMAs.

It also has confluence with December's monthly rejection of bears. Traders selling after Wednesday's news could help bears to hold this resistance. If the price breaks through this resistance, it might test $0.2524, near the 40 EMA. Bears rejected bulls near this level on the daily chart on August 29th. It's also near the midpoint of last week's long weekly wick inside August 14th's daily gap.

A sizeable daily gap formed on January 17th, 2021, from $0.2265 to $0.2120 and could provide support. Dropping into this level may sweep bulls' stops under the $0.2253 and $0.2146 swing lows. If bulls can't hold this level, their stops under June's low at $0.2096 could be the target. Under these stops, the midpoint of the August 31st, 2020, weekly gap overlaps with a small gap from January 16th, 2021. This confluence might provide a possible target and support.

If you consider opening a long 📈 position amid the furore when the Enjin Blockchain is officially launched, we recommend it be above $0.2459. Otherwise, you are more bearish, for the break of $0.2343 and 0.2301 are average prices that you could consider as a safe entry 📉.

Unknown To Many

Loopring (LRC), is struggling to dig into August 14th's weekly gap, with multiple upward spikes sweeping bears' stops and then rejecting into the local consolidation range. August 17th's daily gap at $0.1871 is providing strong resistance. It contains the 40 EMA, is at the bottom of August 14th's weekly gap, and overlaps with a level showing a weekly bullish rejection of bears during the week of December 26th. Friday's release could prompt a wave of selling originating from this level.

A push upward might aim for bears' stops above the $0.1997 swing high. Above this high, August 16th's daily gap at $0.2028 may halt the potential stop run. It's near the midpoint of August 14th's weekly gap. If bulls break through this daily gap, the high of August 16th's weekly gap near $0.21257 could be the next target. Near the August daily open, this level also shows two overlapping daily gaps from August 15th and August 6th.

A down move might aim for $0.1610, where bulls rejected bears on the weekly chart in the week of December 21st, 2020. The midpoint of this weekly wick at $0.1451 may also provide sensitivity. It's near a level where bulls rejected bears on the monthly chart in October 2020. The December 21st, 2020, week's swing low at $0.1291 has bulls' stops clustered around it and could draw the price below this possible support. It also overlaps with the midpoint of November 2nd, 2020's weekly wick.

Weekly parameters suggest that the digital asset may touch the support of $0.1592 📉 and if there is a strong breakout, its maximum devaluation may reach $0.0983. In the case of bulls 📈, it is important to wait for a reversal of support and consider entry with an average price between $0.2259 and $0.2739.

Technological Integration

UMA (UMA) spiked upward over the weekend to purge bears' stops. It's now testing the midpoint of late August and early September's consolidation. Support could exist between $1.353, where bulls rejected bears on the weekly chart during the week of August 28th, and $1.328, at the midpoint of the rejection week's wick. After Tuesday's release, price action around this level could offer more hints as to whether bulls can hold this support.

If bulls fail to hold their line, no historical price action below suggests clear support. Bulls' stops under the $1.302 and $1.261 swing lows offer reasonable targets. An attack on these lows might find a bottom or some sensitivity near the 50% extension of the September 1st to 9th run on bears' stops.

A move upward may find resistance between $1.402 and $1.445. This zone is the lower half of distribution on September 9th and is near the 40 EMA. If bulls break through this resistance, $1.484 could be next. Bears rejected bulls on the daily chart at this level on September 9th. It also overlaps with two weekly bullish rejections of bears during the weeks of December 26th and June 12th.

Our technical analysis for this cryptocurrency suggests that breaking the daily support of $1.285 can seek the bearish supports of $1.247 and 1,209 respectively. For almost the bulls it is suggested to trade above $1,439, however it is noted that the bears will win this time.

Last article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. Remember that all information presented here is a combination of third party data added to our personal opinion.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Rubikkav.

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