Autor: dot-traders

• Monero’s is set for a hardfork on August 13

• The network promises anonymity in crypto transactions

• Monero’s native token XRM/USD is consolidating with a promising bullish recovery

Monero XMR/USD is set to undergo a hardfork on August 13th 2022. The hard fork was initially set to be conducted on July 16. The hardfork promises several things, including improved security on the network. It also includes multisig fixes. The hardfork introduces upgraded Bulletproofs algorithms, which will be dubbed “Bulletproofs+.” In short, just like other hardforks, Monero’s upgrade will be beneficial to the community. 

Founded in 2014, Monero promises privacy to its users. Monero is organized to be an opaque blockchain. The blockchain keeps the identity and details of users anonymous, maintaining privacy. The future growth of Monero is two-fold. Crypto users seeking anonymity will adopt the network more. On the flip side, regulatory action could delay Monero. Regulators could be concerned about identity-blocking blockchains.

Monero consolidates ahead of hardfork

Source – TradingView

Technically, Monero’s XRM/USD is consolidating. However, the price has been making slow gains. XRM/USD currently trades at $117, above a low of $98 in June 2022. The 14-day and 21-day moving averages have joined the support for Monero’s token. The MACD line also crossed above the moving average, signaling building bullish momentum. We project some short-term gains on the token, but the price faces potential resistance at $125. Investors buying ahead of the hardfork must be aware of the potential resistance. The token has support at $110.

Concluding thoughts

Monero blockchain undergoes a hardfork on August 13. Despite the recent price recovery, Monero’s token remains subdued. Bullish signs are emerging, but the $125 resistance could limit the short-term surge. Investors should watch the price behavior as long as the crypto token remains above the $110 support. 

The post Monero’s price movement and prediction as hardfork edges closer appeared first on CoinJournal.

• Cosmos is regarded as the internet of blockchains

• Cosmos’s token ATOM has gained by double digits in 24 hours

• The token is recovering but trades below a key resistance

Cosmos native token ATOM/USD is staging recoveries after recent dive. At the current price of $8.13, the token has added more than 11% in one day. The token is also up from a bottom of $5.5 reached on June 18.

Cosmos refers to itself as the internet of blockchains. It achieves the role by enabling an interconnected ecosystem of apps and services. The goal of Cosmos is to build an optimized ecosystem of decentralized blockchains. The independent blockchains, called “zones,” are connected to a main chain, the Cosmos Hub. Developers can add more chains to the hub, creating a network that communicates with each other. 

Cosmos’ native token ATOM/USD recent gains happen amid the bear crypto market. The gains also defy turmoil surrounding Ignite, the company that originally founded Cosmos. Ignite’s CEO said, on Friday, that he was leaving the company. This week, Ignite also announced it was cutting more than half of its employees.

ATOM/USD technical analysis

Source – TradingView

Long-term prediction of any crypto in the current bear market is a challenge. However, we expect Cosmos token to face resistance at $8.7. The level resisted the recent price surge, and bulls are losing power at $8.0. However, the moving averages and MACD indicators suggest a bullish move at the current price. Investors should watch price action, with a price break above $8.7 opening further surges.

Summary

Cosmos token is bullish but faces an immediate resistance at 8.7. Moving averages offer support, while the MACD line also suggests bullish momentum. We recommend watching price behavior at the current level or at the resistance. The price could fall back to $7.0 if it fails to break past $8.7.

The post Cosmos token ATOM forecast as price turns bullish appeared first on CoinJournal.