Token

Horizen

Trust Wallet Token

Bitcoin

<p style="text-align: justify">The majority of cryptocurrencies did not have a great weekend. However, there were exceptions as always. <a href="https://en.coin-turk.com/bitcoin-may-see-a-rise-again-despite-its-recent-dip-below-31000/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://en.coin-turk.com/the-latest-situation-for-usdtry-and-btc-after-the-turkish-election-what-to-expect/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>) today initiated the drop it has been signaling for days. The price dropped to $29,000, and most altcoins continue to remain in the red. So, what happened with the three altcoins that were the exception? Why did they rise and what can we expect next?</p> 
<h2 style="text-align: justify" id="theta-token-theta">Theta Token (THETA)</h2> 
<p style="text-align: justify">It ranks first among the three altcoins and could not escape the general market decline that started this afternoon. The THETA price has been rising along an upward support line since June 10th. During this period, it made several attempts to break out of the $0.82 horizontal resistance area. The price movement, when combined with the rising support line, forms a rising triangle. A rising triangle is considered a bullish formation, which usually leads to breakouts. This is also consistent with the fact that resistances weaken every time they are touched.</p> 
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-239655 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/07/THETA-Coin-Yorum.png" alt="" width="1817" height="838"></p> 
<p style="text-align: justify">For now, the triangle seems to have broken downwards and is targeting $0.7. If it can reclaim the region again, we may see it rise up to $1.2. The above chart represents the latest situation before the breakout.</p> 
<h2 style="text-align: justify" id="horizen-zen">Horizen (ZEN)</h2> 
<p style="text-align: justify">The ZEN price has been rising since June 10th. On June 30th, the price broke out of a descending resistance line. It then returned after ten days to confirm the line as support. However, despite the increase, ZEN could not surpass the $9.40 resistance. It continues to move away from this area with the drop in Bitcoin price. The optimism in ZEN’s price is due to the weakening of its privacy-focused aspect. This reduces the possibility of the token facing the US Department of Justice.</p> 
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-239656 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/07/ZEN-Coin-Yorum.png" alt="" width="1893" height="778"></p> 
<p style="text-align: justify">The target in the upward breakout is $13, but for now, it seems that the support test towards $7.2 will continue. At the time of writing, the price is at $8.85, and if BTC recovers, the bullish scenario may be valid. It wouldn’t be surprising to see a speculative move in the opposite direction as some of the accumulated long positions have been cleared in the king cryptocurrency.</p> 
<h2 style="text-align: justify" id="trust-wallet-token-twt">Trust Wallet Token (TWT)</h2> 
<p style="text-align: justify">Despite having massive gains with <a href="https://en.coin-turk.com/binance-takes-bold-web3-move-with-6-6-million-strategic-investment/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> support, the excitement has waned. The TWT price fell below a descending resistance line since January 29th. This drop led to a test of $0.71 on June 10th. TWT has attempted to break the resistance line for the fourth time, but the overall market decline is preventing it.</p> 
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-239657 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/07/TWT-Coin-Yorum.png" alt="" width="1895" height="773"></p> 
<p style="text-align: justify">We may see the fifth test happening in the coming hours. In this scenario, $1.1 could be visited. If the BTC decline continues, the price could drop to the previous support at $0.71.</p> 
<h5>The post <a href="https://en.coin-turk.com/why-are-theta-zen-and-twt-rising/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Why Are Theta, Zen, and TWT Rising?</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS.</a></h5>

Why Are Theta, Zen, and TWT Rising?

Table of Contents

COINTURK NEWS

Other articles published on Jul 24, 2023

Worldcoin Expands Privacy-Preserving World ID Access Across 35 Cities, Including Dubai

The company behind ChatGPT launches Worldcoin (WLD), gets listed on Binance

How are NFT Airdrops Taxed in 2024?

Vitalik Buterin reflects on Worldcoin’s proof-of-humanity

Korea’s FSS to Collect Public Comments on Financial Statement Guidelines for Virtual Asset Entities

Web3 Digital Music Platform Hibiki Run Hits a High Note with Million-Dollar Seed Funding

Join our free newsletter for daily crypto updates!