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Cryptocurrency prices experienced some volatility on Tuesday as a risk-off sentiment prevailed in the market. Bitcoin rose to the key resistance point at $53,000 and then pulled back sharply to about $51,000. Most altcoins and American equities also pulled back. This article looks at some of the top tokens like Filecoin (FIL), Monero (XMR), and Bitbot, which has raised over $642k as you can see here.
Bitbot token sale gains steam
Bitbot, an upcoming blockchain network, has continued raising thousands of dollars in the past few months. Data in its website shows that it has raised about $642k in the past few weeks. This is an impressive sum that could continue increasing in the next few months.
Bitbot is a company that aims to become the biggest Telegram bot in the industry. A Telegram bot is a piece of software that provides signals to traders in the crypto, stocks, and forex market. In its case, Bitbot aims to be an alternative to the thousands of bots that exist in the industry.
It will have a few features such as self-custody, decentralization, and major rewards to its users. The token will also have a similar utility with Uniswap’s UNI token. For example, it will have revenue sharing with its holders. This is a situation where the platform shares its revenue with its token.
The other benefit is that Bitbot will have a big community of passionate and seasoned trading experts. These traders will be able to share their experiences among themselves.
Filecoin price forecast
Filecoin, the giant file storage blockchain network, was in the spotlight this week as it integrated with Solana, one of the fastest-growing players in the industry. This integration led to a major jump in FIL price, which jumped to a high of $8.22. This was a strong rally since the token was trading at $4.60 a few weeks ago.
Filecoin has now pulled back sharply as investors start to take profits. It has crashed to the key point at $7.20. On the 4H chart, it remains above the 50-period moving average while oscillators have all pointed downwards.
Therefore, I believe that Filecoin will drop to about $7 and then resume the bullish trend as investors buy the dip and as the ongoing shakeout fades. In this case, a rebound to $8 will likely happen this week.
Monero price prediction
The XMR price bottomed at $109.26 this week. It has now bounced back and is hovering at the 50-period moving average. The Relative Strength Index (RSI) and the Stochastic Oscillator have pointed upwards.
Monero has also risen slightly above the key resistance point at $122.50, its highest point on February 18th. Therefore, the outlook for the token is bullish, with the next level to watch being at $130, its highest point this month.
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