The Drip #1
If you've been invested in altcoins this past month you've been rewarded handsomely as Bitcoin continued to range for the past 62 days. While Bitcoin ranges like it has, money tends to cycle out and trickle down the altcoin ladder starting from large caps ($ETH, $BNB, $ADA) to medium caps ($VET, $UNI, $MKR) to small caps ($ERG, $AGI, $SHR), and lastly to micro caps ($SHA, $LTX, $DAG).
If you've been paying attention, Bitcoin has just broken its previous all time high and is moving upwards quickly. Expect altcoins to settle down as big papa covers ground.
Cardano is set to launch the Alonzo Node for the Pioneers testnet in 2 days. This is going to allow projects like Liqwid Finance to begin utilizing smart contracts on Cardano.
The Plutus Pioneers testnet has been underway which has allowed the community to participate on an invite-only basis to utilize the Plutus Playground. Plutus is Cardano's smart contract language based off Haskell (a functional programming language) which is most commonly used for industries like rocket engineering, financial institutions, and large tech companies.
Cardano $ADA has been in a consolidating ascending triangle which is considered a continuation pattern ever since it double topped at around $1.50. We've got confirmation above the previous resistance at $1.30 and are pushing towards the previous all time high.
While that is taking place SingularityNET is working on a multitude of things like a spinoff DeFi project that will run on SNet's platform, SingularityDAO. They are also working on a project launchpad that will help future SingularityNet developers launch A.I. based projects.
They are working on a biomedical A.I. project focused on curing aging and extending life expectancy called Rejuve. They are also developing the SophiaDAO which will be an opportunity for SophiaDAO governance token holders to participate in the development of Sophia the Robot.
Lastly, a company for enterprise financial products called Xccelerando.
SingularityNET has had an absolutely major runup from its previous consolidation at .11 cents back in mid-February to .57 cents in early April. Over 5x in a month and a half. We need to cool off here and establish some support to continue further. SingularityNET remains very bullish in the short term as we approach the launch of SingularityDAO and SophiaDAO. The push for $1 is coming and my call is by May 10th we see a $1 dollar $AGI.
Ergo has been in the works on multiple projects simultaneously including:
- AgeUSD Protocol
- Ergo DEX (Decentralized Exchange)
- Ergo Wallet dApp connector
- Autolykos 2
While this is all absolutely incredible and goes to show how hard the Ergo team is working, many new community members are unsatisfied with the lack of adoption. These members have been calling for marketing initiative and new exchange listings for months. Well guess what? Ergo answered.
They have also just hired a new marketing secretary, Angie Har, a previous CoinTelegraph editor. Adoption incoming.
Ergo $ERG has been consolidating for the past 45 days from its previous $4.13 high and has broken out to the upside. MacD oscillator looks good and is well above the baseline. Price action bounced perfectly off the 10 day moving average and is heading to $3.40 previous local high. That will be our next target for resistance.