Key Insights:
- Helium (HNT) leads an elite few that have found support despite bearish sentiment across the broader crypto market.
- Zilliqa (ZIL) is enjoying a breakout morning following news of an upcoming game.
- Celsius Network (CEL) continues to fall towards the June and current year low of $0.15.
Helium (HNT) Stands Out from a Bearish Fed-Fuelled Session
Helium (HNT) rose by a modest 2.1% on Tuesday. A choppy session saw HNT fall to a low of $6.4755 before finding support from the broader market to end the day in positive territory. Importantly, HNT avoided the August and current year low of $6.3088.
However, through today’s morning session, HNT is up 9.2% to $7.2733 and leads the crypto top 100. There were no immediate news updates to support today’s breakout session.
Looking at the trends, a move through the August high of $9.4612 would give HNT a run at the June high of $12.5714. From $12.5, HNT would have a free run at the May high of $16.6751.
For the bears, a fall through the August low of $6.3088 would bring the May and current-year low of $6.2440 into play.
Zilliqa (ZIL) Joins Helium (HNT) on the Top Side of the Crypto 100
Zilliqa (ZIL) rose by 1.75% on Tuesday. Recovering from a day low of $0.03603, ZIL struck a final hour high of $0.03747 before easing back. Broader crypto market support delivered the late return into positive territory as investors responded to weak US economic indicators.
This morning, ZIL is up 5.94% to $0.04013. Bucking the broader crypto market trend, ZIL struck a high of $0.04148 before easing back.
On Tuesday, Zilliqa announced the name of its first game, WEB3WAR, a first-person shooter game. While the game will be free to play, there will be ‘seasonal components’ that need tokens to access. The announcement supported the latest ZIL breakout.
Looking at the trends, a ZIL move through the August high of $0.04973 would give the bulls a run at the May high of $0.09849 and $0.10. From $0.10, the bulls would have a free run at the April high of $0.2308.
However, a fall through the August low of $0.03556 would bring the June and current year low of $0.02927 into view.
Celsius Network (CEL) Feels the Frosty Crypto Winter
Celsius Network (CEL) looks set for a troubling period as investors continue to pull the plug.
On Tuesday, CEL fell by 1.89% to $1.6482. While the loss was modest, CEL fell for a fourth consecutive session and visited a low of $1.60 before finding support.
Investor sentiment has not improved this morning, with CEL down by 12.81% to $1.4371. The bearish morning saw CEL become the worst crypto performer.
Looking at the trends, a fall through the August low of $1.088 would bring the June current year low of $0.15 into view. For now, CEL looks set to fall into the Abyss. A fall to sub-$1 may accelerate the process.