The cryptocurrency market is advancing into the third week of trading in August, Bitcoin is trading very close to the resistance of $ 50,000 and for now everything indicates that the price could rise above that level again. The cryptocurrency market continues to attract retail investors, and according to cryptanalysis firm Chainanalysis, global crypto adoption among retail investors has increased more than 800% since the start of the year: led by India, Pakistan and Ukraine.
In emerging markets, many are turning to cryptocurrencies to save their savings in the face of currency devaluation, send and receive remittances, and conduct business transactions, while adoption in North America, Western Europe, and East Asia was largely driven by institutional investors last year, crypto analytics firm Chainanalysis reported .
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If this positive trend continues, Uniswap UNI / USD, Tezos XTZ / USD and Fantom FTM / USD could be some of the top performers in September. Lyn Alden Investment Strategy founder believes Bitcoin will climb to $ 100,000 and Etheruem to over $ 5,000 in early 2022, while analyst Cathie Woods said Bitcoin could hit $ 500,000 levels in the coming years.
Uniswap (UNI) could move above $ 35 if the uptrend continues
The price of Uniswap (UNI) has been rising since the beginning of August, and for now there are no signs of a trend reversal. Uniswap could move further in the ongoing bull market, and if the price goes above $ 35, the next target could be $ 40 or even higher.
On the other hand, a fall below the $ 25 mark would be a clear sell signal and the path to the $ 20 mark would be clear.
Tezos (XTZ) found strong support above $ 3
Tezos has gone from $ 3 to $ 3.8 since early August 2021, and the current price is around $ 3.7.
The main support levels are $ 3.5 and $ 3; $ 4 and $ 5 are the main resistance levels. If the price rises above $ 4 again, that would be a signal to buy Tezos (XTZ) and the next target could be $ 4.5.
Fantom (FTM) could climb above the $ 0.70 resistance again
The price of Fantom (FTM) is currently around $ 0.50, but the technical picture suggests it could rise above the $ 0.70 resistance again in September.
If the price rises above $ 0.60 it would be a signal to buy Fantom (FTM), but if it falls below $ 0.40 it would be a clear sell signal and a sign of a trend reversal.
August has been a very positive month for the cryptocurrency market so far. Bitcoin is trading very close to the resistance level of $ 50,000, and at the moment all indications are that the price could move back above that level. If this positive trend continues, Uniswap, Tezos, and Fantom could be some of the top performers this September.
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