Top 3 Coins to Watch Today: ZEC, SOL, SLP – April 25 Trading Analysis
Categories: Crypto News US AUSTRALIA
1. Zcash (ZEC)
Zcash ZEC is a decentralised cryptocurrency focused on privacy and anonymity. It uses the zk-SNARK zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions.
ZEC Price Analysis
At the time of writing, ZEC is ranked the 50th cryptocurrency globally and the current price is US$158.86.Last year’s long-term consolidation suggests that the areas near $138.23 may be more likely to cause a longer-term trend reversal. If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $210.32 might provide a ceiling for this impulse.
2. Solana (SOL)
The Solana protocol is designed to facilitate decentralised app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.
SOL Price Analysis
At the time of writing, SOL is ranked the 7th cryptocurrency globally and the current price is US$99.11. Possible support rests near $96.34, which showed sensitivity on the last test. While it could provide support again, the higher-timeframe bearish trend is more likely to propel the price into an inefficient area between $91.10 and $87.54. If the price reaches this zone, the May 2021 swing high near $82.13 might mark a more sensitive level.
3. Smooth Love Potion (SLP)
This digital asset serves as a replacement for experience points. SLP are ERC-20 tokens, and they can be used to breed new digital pets known as Axies. The cost of breeding begins at 100 SLP but increases gradually, rising to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth, and 1,300 for the sixth.
SLP Price Analysis
At the time of writing, SLP is ranked the 420th cryptocurrency globally and the current price is US$0.01547.The higher-timeframe analysis points to the area near $0.02351 as the next substantial resistance. Significant selling has been occurring here on the daily chart. If this level breaks, the swing highs near $0.02827 and $0.03060 may be the next targets.