Last Week Recap
Our token watch on UNI was pretty spot on with UNI surging from US$29 to US$35. ENJ did not too bad as well. Bitcoin did not manage to break its near term resistance at $62,000 as well.
For this coming week:
- Bitcoin maybe trading range bound between $56,000 to $60,000.
- Key support at $54,000. Any break down would turn sentiment bearish.
- We maintain our near term price resistance at $62,000.
- We continue to like projects which further decentralisation theme such as Ethereum and UniSwap
- We believe the battle for the next blockchain unicorn would depend on the blockchain-of-choice for NFT platforms. So, far contenders seems to be BNB and of course ETH.
- XRP vs SEC lawsuit is worth keeping watch on. XRP remains an opportunistic trade.
- The NFT space is seeing exponential growth. We continue to like Enjin for NFT play.
As usual, trade with care. Trade with what you can afford to lose.