HomeBlockchainEthereum (ETH) and ApeCoin (APE) threatening a breakout, Will HedgeUp (HDUP) increase...

Ethereum (ETH) and ApeCoin (APE) threatening a breakout, Will HedgeUp (HDUP) increase in price again?

SPONSORED POST*

Although Gary Gensler is hounding Ethererum, and the crypto industry has recently faced additional regulatory issues, Ethereum and most of the market is going up, in part due to the uncertainty regarding banks, after the recent collapses and bailouts.  ApeCoin, on the other hand, appears to be lagging behind. HedgeUp (HDUP) posts a tidy profit of 44% in the last few days, as the startup develops its plan to bring all large alternative asset classes to the crypto market.  HedgeUp (HDUP) is in stage 2 of presale.

ApeCoin (APE) – not the world’s favorite memecoin

When it comes to crypto, sometimes memecoins like Dogecoin (DOGE) or ApeCoin (APE) are big winners.  At other times the market favors tokens with more utility. ApeCoin(APE) is intended to be used in various web3 apps but its main announcement was the integration with Otherside, Yuga Labs’ BAYC metaverse. 

ApeCoin (APE) has been steadily decreasing in price since the end of January, and the technical indicators suggest that the short to medium term outlook is not positive, recommending a strong sell. The Moving Averages are also suggesting a sell for ApeCoin (APE) making a breakout possible but unlikely unless the price makes a sudden upswing.

ApeCoin (APE) is currently trading at $3.97 and is down by 4.5% over the last month, can  ApeCoin (APE) play catch up?

Will Ethereum (ETH) price break out from the descending wedge?

For those looking for something more serious than ApeCoin (APE), Ethereum (ETH) is a great choice.

For approx the last 2 weeks Ethereum (ETH) has been in a descending wedge pattern.  However, ostensibly it seems that the uncertainty around the traditional banking system, combined with ever rising interest rates and inflation, has brought institutional and private money into crypto, as a safe haven against devaluing currencies.  

This pushed Bitcoin (BTC) to over $29k where it failed to hold, and Ethereum (ETH) to $1825.  Ethereum consolidation has been occurring and will continue to do so until Ethereum’s falling wedge pattern is intact.  This configuration represents a well-known bullish continuation pattern that amplifies the buying momentum once the resistance trendline is breached. 

At time of writing Ethereum (ETH) is hovering just above $1800, if it can break out, we could see the psychological barrier of $1900 being met and surpassed.

HedgeUp (HDUP) offers new asset classes to invest in, using tokenized NFTs

DeFi is about accessibility to financial products that don’t rely on banks and allow investors who may not have to gain high yields or be able to participate in certain activities that may not be possible for citizens of many countries.  

HedgeUp (HDUP) seeks another way to encourage the DeFi economy, by tokenising alternative assets such as diamonds, gold, watches and other luxury products, then selling fractions to investors for as little as $1.  

HedgeUp (HDUP) know that the market for alternative assets is forecasted to quadruple from $4 trillion to $17 trillion by 2025, and so they believe investing in different asset classes is potentially a profitable way to diversify a portfolio.

HDUP is the native token of HedgeUp (HDUP) and the company intends to collaborate with a digital bank to enhance the utility of HDUP tokens, enabling HedgeUp (HDUP) token holders to purchase, sell, and exchange goods and services. 

HedgeUp (HDUP) plans to have a learn to earn scheme to help educate users on the best way to make use of the platform, whilst earning some money that they can spend or use to invest in some jewelry or any other asset on the platform. 

HDUP is for sale on the HedgeUp (HDUP) website at $0.013, with a minimum launch price of $0.09.

Find out more about the HedgeUp presale here:

*This article was paid for Cryptonomist did not write the article or test the platform.

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