End the business week with some big announcements from Theta Network, Stellar Lumens and Neo.

Theta announced today that it has launched ThetaSwap v1, the first DEX for Theta Blockchain. The ThetaSwap is based on an AMM (Automated Market Making) logic, which is similar to UniSwap and enables the seamless exchange of TNT20 – Theta-native tokens based on Theta Network. Theta sees a great opportunity in the use of Theta Network and ThetaSwap for influencers, streamers who build their fan tokens and pools as well as DAOs to fund entertainment and media companies. The Theta team also noted in their announcement post on Medium that the adoption of media / entertainment tokens will be a major topic in 2021 as everyone from the smallest streamer to the largest Hollywood studio is looking for new ways to make their content seamless to monetize and decentralized, free of agent fees.

ThetaSwap currently supports Theta Chrome Wallet. Only TFUEL and TNT20 tokens are available for trading with ThetaSwap v1. However, the team behind Theta assured that several stablecoin issuers are interested in adding their coins to the exchange, and Theta will add more coins to the ThetaSwap.

As the network grows and adds new features, THETA / USD hits new all-time highs. Currently, the ATH of THETA / USD is $ 2.57920 and according to chart analysis there is still plenty of room for growth.

TradingView’s Theta / USDT chart.

Theta is currently testing a very important resistance at $ 2.51 and $ 2.57. The previous high is holding the price back from a continuation of the uptrend, while the resistance at USD 2.57, which is an upper threshold of the ascending channel, signals a correction. RSI and MACD indicators also support the correction upfront and if that happens and the pair does not break above $ 2.57, the price will fall to support at $ 2.23 and psychologically strong support at $ 2.00 to find. The breakout of the current resistance will cause it to rise toward $ 2.80 and toward $ 3.30 above this level.

The main update was introduced by Stellar

Stellar and Circle have completed the minting of USDC on Stellar, thus enabling the integration of USDC Stablecoin into the Stellar blockchain. The USDC (US dollar coin), a stablecoin developed by Circle Internet Financial and supported by Coinbase, has a circulation of $ 6 billion. The circulation of the USDC has doubled since December after a global payments provider, Visa, announced it would add USDC for its 60 million merchants. Circle CEO and Founder Jeremy Allaire praised Stellar, saying that Stellar was designed for payments. Migrating USDC from the Ethereum network to Stellar will greatly improve transaction speed and reduce fees.

The stellar-born token Lumens has responded to the news and with this important partnership and update, Lumens is now considered one of the most promising altcoins.

TradingView’s XLM / USDT chart.

Lumens versus the USD are one of the altcoins that occasionally form large triangles, and most of the time these triangles signal the pair’s imminent uptrend. XLM / USD’s all-time high was sealed on January 7th at $ 0.41194. To hit this level, XLM will need to close above the current resistance of $ 0.36000. Currently the pair is testing the top of the triangle for support and bodes well for the uptrend to continue. However, to consolidate this one should wait for the weekly high to break out. If the breakout is confirmed, XLM will continue the uptrend and test $ 0.37897 and $ 0.39600.

The NGD – Neo Global Development Team announced that it has released the final Preview5 update prior to the NEO 3.0 iteration. The latest update includes various developments and new functions such as the Oracle module, status root, integrated name services and native general ledger contracts. The optimization includes an important update to the block synchronization that is performed based on this update using either hash or index. These updates also signal that the long-awaited Neo 3.0 version will be available shortly.

Regardless of whether it was the release of these updates or a global crypto sentiment, NEO canceled the formation of the improbable chart pattern in its price chart – Head and Shoulders. And the current state of price action draws attention to the pair.

NEO / USD rate on Overbit

NEO / USD is currently being challenged by two major resistances, the dynamic resistance and the static resistance at USD 25. There is a range of resistance at $ 24.70 – $ 25.50. The pair formed a triangle pattern on a 4H chart, and since the distance between the last candle and the bottom edge of the triangle is very tight, we can assume that NEO did the last test of the triangle’s lowered edge yesterday in order to jump higher. Even so, the optimism of this assumption, the confirmation of the next uptrend, will only be seen when NEO / USD breaks above 25.50, which will add strength to another impetus up to $ 27.70 and $ 28.70. MACD is already bullish on NEO / USD, so RSI as MA100 and EMA50 is approaching the overbought zone and correcting.

Next Altcoin News, Cryptocurrency News, Guest Posts, News Kseniia klichovaAuthor: Aziz Kenjaev

Senior Vice President at Overbit. Technical Analyst, Crypto Enthusiast, Former Vice President at TradingView, Medium and Long Term Trader, trades and analyzes the Forex, Crypto and Commodities markets.


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