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Cryptocurrency News Articles

BePro (BEPRO), XYO (XYO), Matrix AI Network (MAN), OriginTrail (TRAC), and Marlin (POND) Are Some of the DePIN Tokens That Promise Gains in the Coming Month

Jun 28, 2024 at 05:29 pm

Decentralized Physical Infrastructure Networks (DePin) are crowd-sourced networks in which individuals contribute physical infrastructure resources

BePro (BEPRO), XYO (XYO), Matrix AI Network (MAN), OriginTrail (TRAC), and Marlin (POND) Are Some of the DePIN Tokens That Promise Gains in the Coming Month

BePro (BEPRO), a task-based marketplace, has seen its value drop to a year-to-date low of $0.00055 on June 18. Since then, BEPRO has recovered, trading at $0.00067 with a 20% gain in the last seven days.

This price uptick is backed by demand from market participants, with readings from BEPRO’s Accumulation/Distribution Line rising steadily with the token’s price in the past few days. This indicator measures the cumulative flow of money into and out of an asset. When it rises, it means there is more buying pressure than selling pressure in the market.

If this trend continues, BEPRO’s value may climb to exchange hands at $0.00068. However, if the bears regain control and force a downtrend, its price will drop to $0.00065.

Built to revolutionize how data is collected and used in the physical world, XYO is a collaborative network where its providers gather and verify real-world data. The value of its native token (XYO) has risen by double digits in the last week.

Currently, XYO trades at $0.0066, having witnessed an 18% price growth in the past seven days. As XYO trends upward, liquidity inflow into its market has also risen.

The token’s Chaikin Money Flow (CMF) has been in an uptrend in the past few days and is poised to cross above the zero line at press time. This indicator measures an asset’s buying and selling pressure by tracking how money flows into its market.

When the indicator trends upward, it is a bullish sign. When it crosses below the zero line, it signals a shift in market trend from negative to positive and confirms an ongoing uptrend.

If the demand for the altcoin continues to surge, its price may rally to $0.0071.

Matrix AI Network claims to be the first AI-optimized blockchain platform. Its native token, MAN, powers it.

MAN’s 15% price hike in the past seven days has led to the gradual formation of an ascending channel. This channel is a bullish signal formed when an asset’s price creates higher highs and higher lows within two parallel trendlines sloping upwards.

At press time, the token’s price is $0.036. Since its uptrend began on June 14, its Advance/Decline Line has also risen. At press time, the indicator’s value is 515.70. It has since climbed by 1.4%.

A rising A/D Line is generally interpreted as a bullish signal. It suggests overall strength and strong positive momentum in an asset’s market.

If MAN’s price maintains its uptrend, it will reach $0.039.

An open-source project building a knowledge infrastructure for artificial intelligence (AI), OriginTrail is powered by its native token, TRAC. It has seen a 17% price hike in the last seven days. It currently trades at its highest price level in seven days.

Readings from its moving average convergence/divergence (MACD) confirm the resurgence in bullish bias toward the token. Furthermore, on June 25, the MACD line (blue) intersected the signal line (orange), a positive sign suggesting that buying pressure outweighs selling activity.

An asset’s MACD indicator tracks its price trends and momentum. When this bullish crossover occurs, traders interpret it as a sign to go long and exit short positions.

If the bulls continue to sustain TRAC’s price rally, it may exchange hands at $0.79. However, if profit-taking activity commences, the token’s price will decline, invalidating the above projection. If this happens, TRAC will trade at $0.074.

Marlin (POND) offers a programmable network infrastructure for decentralized finance (DeFi) and Web3 projects. It is powered by POND, whose price has risen by 10% in the past seven days.

This rally has pushed the token’s price above its 20-day Exponential Moving Average. This measures an asset’s average price over the past 20 trading days.

When an asset trades above this key moving average, it confirms a hike in buying pressure. It is a bullish signal that confirms a current market rally. Traders often consider it a signal that an asset’s price uptrend will continue.

If POND’s uptrend continues, it may rally to $0.02. However, if bearish bias toward the token spikes, its price may fall to $0.01.

News source:beincrypto.com

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