The crypto analyst, host of Coin Bureau, a crypto channel closely watched by the crypto community, has warned of a number of altcoins that performed well last week but are currently facing headwinds after the crypto markets corrected.
Tron (TRX)
The analyst, known by the pseudonym Guy, hits his 2.03 million subscribers on the smart contract platform in a new YouTube video. of TRON (TRX) He says there isn’t a lot of momentum behind the rallies he’s been through on news of the launch of his new decentralized stablecoin.
“There is TRON, whose TRXcoin is rebounding as a result of the imminent launch of the USDD stablecoin, which will have a mint and burn mechanism similar to Terra’s UST. TRX is also in a long-term uptrend, and while this trend may seem stronger than most other cryptocurrencies at first glance, TRX hasn’t moved that much in percent over the past few years. So before you get too excited, keep that fact in mind.”
Nexo (NEXO)
The analyst also reported local news after a surprise Binance listing. NEXO Crypto loan platform rising token NexoHe draws attention to . While Guy is ultimately bullish on the project, he warns that future limitations on companies like Nexo could limit how far the altcoin can go.
“As far as Nexo is concerned, the NEXO token last week powered by the Binance listing and [kesinlikle sahip olmam gereken] With the recent release of the latest version of the Nexo crypto card, it is rising…
The good thing is that Nexo is in a really strong long-term uptrend, but I wonder how much bigger it can grow given the pressures we’re starting to see on apps that allow you to earn interest on your idle crypto.”
Step (GTM)
Among the cryptocurrencies Guy has his eye on is a booming play-to-win project that has enjoyed parabolic movements in the face of listings in recent weeks, which another analyst warns about. at STEPN (GTM) exists. The analyst says that GMT has a chance to continue its rally, but is facing the weight of the decline taking place in the broader crypto market.
“As for STEPN, the GMT token continues its bullish trend thanks to the Coinbase and Gemini listings, which make the altcoin accessible to more investors. The exponential adoption of STEPN certainly contributes to this.
GMT appears to be forming a strong support zone at the current levels, which will come in handy when trying to set all-time highs. Note that if we go below this zone, GMT may crash by more than 30 percent. Some even think it is only a matter of time before it crashes, given the current state of the market.”
XinFin (XDC)
Finally, Guy aims to be an enterprise-ready blockchain protocol specializing in tokenization for real-world decentralized finance. XinFin (XDC) He also said that traders should pay attention. The analyst warns that limited access to XDC via exchanges and a generally bearish crypto market could pose problems for the altcoin.
“XDC coin is being pumped by news that Panama will be promoting the adoption of this altcoin as part of crypto law in addition to a number of other altcoins including ETH, XRP and ALGO. While XDC coin is still in a long-term uptrend, I will move forward with caution as stock market support is limited at the moment – not to mention the fact that it cannot be pumped against bearish for a long time.”
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.