Veröffentlicht von • Cryptocurrencies remained on edge in the first week of 2023, with Bitcoin consolidating below $17,000 and Ethereum stuck at $1,200.
• Concerns about the industry were exacerbated by the hawkish Fed minutes.
• Crypto price predictions for Tron (TRX), Huobi Token (HT), and VIDT pointed to bearish sentiment, with TRX likely to dip to $0.04.
Cryptocurrency prices remained volatile in the first week of the year, with Bitcoin consolidating below $17,000 and Ethereum stuck at $1,200. The total market cap of all cryptocurrencies also remained below $900 billion, as concerns about the industry were exacerbated by the hawkish Fed minutes. In light of this, crypto price predictions for some of the top trending coins like Tron (TRX), Huobi Token (HT), and VIDT pointed to bearish sentiment.
Tron is a second-generation blockchain project that was started by Justin Sun. It is associated with other blockchain projects like Sun, JustLend, and JustStables, as well as Huobi, BitTorrent Chain, and USDD. As a result, TRX price crashed hard as concerns of its exposure to Huobi continued. It has moved below all moving averages while oscillators like the MACD and the Relative Strength Index (RSI) drifted downwards. Thus, the outlook of TRX during the weekend is bearish, with the next key support level to watch being at $0.04.
Huobi Token is a crypto token issued by Huobi Global, one of the world’s largest cryptocurrency exchanges. HT is used to pay for transaction fees and access special services on the Huobi platform. The price of HT has been trending downwards over the past week, and is expected to continue to do so in the coming days. It is currently trading below all moving averages and oscillators like the MACD and RSI are trending downwards. Thus, the outlook of HT during the weekend is bearish, with the next key support level to watch being at $2.50.
VIDT is a blockchain-based platform that facilitates the secure exchange and sharing of digital content. The platform is powered by the VIDT token, which is used to pay for transactions and access services on the platform. The price of VIDT has been trending downwards over the past week and is expected to continue to do so in the coming days. It is currently trading below all moving averages, while oscillators like the MACD and RSI are trending downwards. Thus, the outlook of VIDT during the weekend is bearish, with the next key support level to watch being at $0.20.
In conclusion, crypto price predictions for Tron (TRX), Huobi Token (HT), and VIDT point to bearish sentiment, with all three coins likely to dip in the coming days. TRX, HT, and VIDT are all trading below all moving averages, while oscillators like the MACD and RSI are trending downwards. Thus, investors should be cautious when trading these coins, and should watch out for key support levels in order to limit potential losses.