As cryptocurrency markets continue to experience volatility this week, investors’ interest may be shifting towards local narratives and specific ecosystem tokens.
Among the standouts are coins with strong developmental ties with China, often referred to as “Made in China” tokens. Includes Huobi Token (HT), Nervos Network (CKB), and Zilliqa (Zil).
Huobi (HT)
HT is a native token for Huobi Global Exchange, one of the largest digital asset platforms originally established in China. Amidst the broader market’s inactive performance, HT has grown 23% over the past week, making it a key to keep an eye on this week.
Key technical indicators confirm optimism around Altcoin. For example, the relative strength index (RSI) of HT is 55.64, which is rising at press, indicating buy-side pressure growth.
The RSI indicator measures the market conditions for asset acquisitions and overselling. It ranges from 0 to 100. Values above 70 suggest that the asset is over-acquired and paid for a price drop, while values below 30 indicate that the asset is over-sold and may witness a rebound.
The RSI measurements of HT indicate that market participants prefer accumulation over distribution. If this trend continues, its price could rise to $0.29.
On the other hand, a decrease in accumulation could reduce the value of HT to $0.21.
Nervos Network (CKB)
The Nervos Network is an open source public blockchain ecosystem. Its native token CKB has spiked 13% over the past week, making it one of the Chinese coins we’re watching this week.
On the daily charts, its Aron Up line is 92.86% at the time of this writing. This means that CKB’s current uptrends are strong, backed by significant demand and not driven by speculative trading.
The asset AROON indicator measures the strength and orientation of trends by tracking the time since the highest and lowest prices over a specific period. It consists of two lines: Aronup, which measures ferocious momentum, and Aron, which tracks bearish pressure, goes down.
Like CKB, if the Aron Up line is 100 or near 100, upward momentum dominates. This suggests that purchasing pressure is high and CKB prices may continue to rise.
In this case, you could trade for $0.0040, above $0.0038.
However, if profits begin, the token price could be immersed in $0.0033.
zilliqa (Zil)
Zil is trading at $0.0108 and has been focusing on a price rise of 4% over the past seven days. That stable gathering has pushed prices above the 20-day index moving average (EMA).
The 20-day EMA measures the average price of assets over the last 20 days, giving weight to recent prices. When prices exceed the 20-day EMA, they show short-term bullish momentum, suggesting that buyers are in control.
If this continues, Zil can extend the rally to the transaction for $0.0116.
However, when you buy a food stall, the token price could drop to $0.0107.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
