From the assumption that Bitcoin is unlikely to fall into the bear market to the NFT, which is used to preserve the heritage and culture of Belgian beer, has been recognized by UNESCO. Here are some highlights from the crypto market.

Bitcoin news

Veteran crypto analyst Tone Vays says Bitcoin (BTC) is unlikely to slide into a bear market for now.

In her most recent video, Vays answer Audience asking where BTC could turn into a bear market in the medium to long term?

According to Vays, Bitcoin has to drop below $ 35,000 in the long run for Bitcoin to become bearish in the long run. A fall in the market to this level is currently unlikely.

According to Vays, the only case that could result in BTC’s price dropping at this point would be a massive exponential rally like the one that happened in late 2017 or forming a descending triangle pattern. Usually after a sharp rise there is a sharp correction in the market.

Messages

Aave plans to scale the network in 2022. This has helped grow Aave’s user base and increase on-chain activity on the protocol.

In particular, the Aave development team introduced a cross-chain governance bridge, which means that the protocol can be managed across multiple networks from the governance mainnet. The Aave community is working to enable gas-free voting and to make governance for the users in the network holistic.

Aave has also started work on V3 to increase capital efficiency, reduce risk and create cross-chain bridges.

Additionally, Colin Wu said Aave was working to roll out its mobile wallet in 2022. The project also started working on NFT security protocols.

Trader and analyst Crypto McKenna assessed the Aave price trend and predicted the market could rise much faster than traders expected. DeFi blue-chip projects like Aave are expected to have an impact in the first quarter of 2022.

$ AAVE goes up in the area faster than you think.

Blue chip revaluation comes in the first quarter. pic.twitter.com/YyrmbOKwOW

– McKenna (¤, ¤) (@Crypto_McKenna) December 31, 2021

News Algorand

Algorand outperformed the crypto market. From a weekly low of $ 1.25, it hit a high of $ 1.79, up more than 42%.

Algorand price is currently nearing one of the strongest resistance levels on the weekly Ichimoku chart. The 2021 volume checkpoint and weekly Kijun-Sen are both in the $ 1.80 range. With a rapid rise and no short-term pullback, resistance is likely to be in the $ 1.80 area.

AlGO price table | Source: Internet

However, it is likely that ALGO will break the $ 1.80 zone without a break. Optex belts and composites are starting to rise from the ATL levels. The composite indicator can cross both moving averages at the same time, which is an extremely bullish signal. Additionally, the Relative Strength Index bounced off the oversold (50) level for the first time during the bull market.

The bulls can now push the price above the $ 2.17 weekly conversion line. A close above $ 2.17 will help Algorand initiate the next rally towards the Fibonacci extension of 1005 near the $ 3.25 region.

Litecoin news

Litecoin had a great start to November when it broke the $ 200 mark and climbed to a high of $ 295, but the last six weeks have seen Litecoin pull back to a low of $ 140.

LTC Price Chart | Source: TradingView

According to the chart, the downward momentum from $ 295.7 to $ 129.3 is illustrated by the Fibonacci retracement levels (in white). Currently, the long-term support at USD 143 (in green) has held up. Also, $ 168 is considered a resistance.

In late August, LTC price touched the $ 232 level and coincided with the 61.8% retracement level, which is also a strong resistance right now.

In October, LTC rose from the $ 140 region to $ 180 and up. It then retested the $ 176 area looking for demand. If Litecoin has a similar price action in the coming weeks, it will likely encourage buyers to get into the market and test the $ 176 area again.

The OBV has made lower lows in recent months. However, the OBV has been in a strong downtrend since peaking in November, so the OBV will need to move higher for the bullish scenario to prevail.

The RSI also rebounded from the 37.65 level. In the past (late March, June, late September) the RSI has come out of the 35-37 zone. As recently as December, this area was one of the resistance levels and recently LTC turned this area into support.

Investors will have to wait and see if buyers enter the market for $ 176. A reversal in long-term retracement of 23.6% will cause LTC to head toward the $ 232 and $ 295 regions.

NFT news

Brewers and farmers of the Belgian Barrels Alliance (BBA) have cooperate with Zeromint to provide the NFT that preserves the heritage and culture of UNESCO-listed Belgian beer.

As part of the partnership, Zeromint will exclusively mint and make available NFTs on the GoChain blockchain, which will be made available to international beer lovers via BBA. Starting today, the organization will run a series of BBA NFT collection projects over the next 14 days to increase sustainability and preserve Belgium’s beer heritage.

According to the official statement, the first Belgian NFT Barrels auction will be used to recruit 11 people for a film produced by BBA called Belgian Barrels.

In addition, NFT winners participate in the VIP whitelist and have the right to participate in all BBA events. 80% of the NFT auction proceeds will go to a local charity.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page