Zilliqa, Bitcoin & Cardano – Asian Wrap 08 Apr.

Zilliqa’s price momentum is slowing and putting new all-time highs on hold

The Zilliqa price broke the clipping of a massive head-shoulder-bottom pattern in November 2020, resulting in a 630% rally at Monday’s high. This rally has received support from the 50-day Simple Moving Average (SMA) on every pullback for the past three months. All trends need to be structurally reset, however, and resistance at the all-time high will likely be the catalyst to initiate a deeper correction.

Bitcoin mining could undermine China’s efforts to reduce carbon emissions

Energy consumption related to cryptocurrency mining is a topic of debate among critics and proponents of these digital assets. Minting a Bitcoin requires a lot of electricity, which goes against the global movement to reduce CO2 emissions.

Cardano price projection: ADA faces a 270% rebound

Cardano price rose 270% in February to the highest total monthly volume since the digital coin was launched in 2017. The correction process through March and early April has formed a pennant continuation pattern that spans two weekly dojis.

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