As all cryptocurrency markets remain subdued by traders and speculators, there isn\t much to be excited about. However, many users remain bullish on their favorite currencies, as the momentum has to turn around eventually. According to users, the following five assets are still in bullish territory, even though the market momentum shows something very different.
It is never too surprising to see the world’s leading cryptocurrency have a loyal following of bullish individuals. For an asset that went from $41,000 to $33,000 in a few days, that is rather remarkable. Bitcoin is still in the green on much larger time scales; thus, there is no immediate reason for concern. BTC Dominates the social volume, and 63.44% of community members maintain their bullish outlook. If and when a market reversal will occur remains highly doubtful, though.
A remarkable asset to find on this list, as it would appear Dogecoin has had its moment of glory in recent months. With the help of Elon musk, the asset saw its value surge, but all good things come to an end. Or so it would seem, yet 64.17% of traders remain bullish on DOGE. Its overall social volume is only second to Bitcoin, confirming Dogecoin remains an important topic of conversation even today. Keeping the value above $0.25 will be the first challenge, as there is tremendous pressure on all markets at this time.
Whereas some speculators and traders might have expected Uniswap’s UNI to be on the list, it appears PancakeSwap gets a lot more attention lately. The platform on the Binance Smart Chain is a DEX that performs relatively well, as is evident by its $2.7 billion market cap. As 65% of its community expect CAKE to turn bullish again, it will be interesting to see where this market heads next. PancakeSwap also has a relatively impressive social volume, confirming the overall interest in this project.
When the world’s second-largest cryptocurrency by market cap only ranks 4th on LunarCRUSH, something isn’t adding up. Ethereum’s price is slipping toward $2,000 and lower again despite a prominent market position and looming network upgrades. The asset had a good run earlier this year but may not reach that $4,000 level again. The 64.9% of the community that remains expectant of such a reversal will watch the proceedings like a hawk. A social dominance score of 4.69% is relatively low, though.
As the final asset on this list, Safemoon finds itself in an interesting situation. The project has received a lot of [negative] attention due to some code concerns and a lackluster price performance after the recent surge. Despite all of this, the project still has a $2.1 billion market cap and 62.71% of the community members expect the price to go up again shortly. Before that can happen, the major markets – like Bitcoin and Ethereum – will need to recover first. An unlikely development given the current market sentiment.
The post These 5 Crypto Assets Note Bullish Sentiment This Week: BTC, DOGE, CAKE, ETH, SAFEMOON appeared first on CryptoMode.