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The ZetaChain price has plunged by 16% in the last 24 hours to trade at $1.22 as of 8:30 a.m. EST.
This steep correction comes after the token surged 121% in the past seven days.
ZetaChain Price Prediction: Will ZetaChain Recover?
Analyzing 1-hour ZETA/USDT charts, we see a downtrend as indicated by the red candlesticks and the SuperTrend indicator, which is in the bearish zone, with its line above the price action. This demonstrates selling pressure showing a bearish short term on the ZetaChain price.
Additionally, the Average Directional Index (ADX) is at 40.70, which indicates a strong downward trend. On the other hand, the Klinger Oscillator values are negative, with the reading at about -47.904K, suggesting bearish momentum. The Klinger Oscillator is used to predict the direction of the trend. A negative value often indicates downward momentum.
1-hour ZETA/USDT chart | Source: TradingView
ZetaChain Price Prediction: What are the Chances of a Bullish Reversal?
The Relative Strength Index (RSI) is around 31.96, which is near the oversold threshold of 30. This could suggest that the asset might be undervalued or that a potential trend reversal could occur if the RSI starts to move upwards.
Looking long-term, Zetachain’s remarkable rise in TVL over the last few days to $642K could also see the token re-enter a bull run as it shows increasing investor confidence.
ZetaChain TVL Stats Snap | Source: DefiLlama
Meanwhile, as the ZetaChain price plunges, a Solana outage was the talk of the day.
Solana Mainnet-Beta is currently experiencing performance degradation as mentioned by @laine_sa_.
Validators and core engineers are investigating the situation; we're keeping a close eye to keep you updated. https://t.co/VSzOAAvIXV
— SolanaFM (@solanafm) February 6, 2024
With the Solana network down, many projects were affected and several exchanges paused transactions involving Solana. Such an event underscores the need to invest in tokens that run on robust blockchains, with Ethereum-based projects like Bitcoin Minetrix serving as an example.
Bitcoin Minetrix is witnessing an increasing number of investors entering the BTCMTX token presale as it surpasses $10.3 million in funding, and the Ethereum blockchain boasts 9 years without any downtime.
It could also be that investors worried about the latest Solana outage start redirecting their investments to Ethereum-hosted applications
A Promising Alternative To ZETA?
Bitcoin Minetrix is a brand-new cloud mining startup that analysts rank among 2024’s top crypto projects. Thanks to Bitcoin Minetrix’s cloud mining and staking integration, expensive mining gear is no longer necessary, and everyone can afford to mine Bitcoin.
Users can control every facet of their cloud mining using Bitcoin Minetrix’s stake-to-mine function. Without the risk of fraud associated with third-party cloud mining services, you may use the cloud mining credits you earn by staking your BTCMTX tokens to participate in decentralized Bitcoin mining.
Staking BTCMTX is an additional passive method to earn platform tokens with the current annual return standing at 65%. A total of over 642 million tokens have been staked.
By taking part in its Minedrop contest, you may earn BTCMTX tokens in another method. The entire prize pool for this event is $30,000 with ten winners each getting $3,000.
🎉 #BitcoinMinetrix $30,000 Minedrop Is Now Live! 🎉
Get ready for your chance to win a share of $30,000 in $BTCMTX!
Follow the steps in the link below for the chance to win one of ten $3,000 $BTCMTX Prizes! 💰
➡️ https://t.co/v1UKskxi4Y pic.twitter.com/nseOBTNO9N— Bitcoinminetrix (@bitcoinminetrix) October 5, 2023
With the ZetaChain price now facing a correction, investors who missed the entry still have a chance to earn massive capital gains and lucrative rewards from the Bitcoin Minetrix presale.
Jacob Bury, an influential cryptocurrency expert with over 27,000 YouTube followers, has given his stamp of approval to Bitcoin Minetrix, predicting that it has the potential to 10x on launch.
So far, the BTCMTX presale has raised $10.3 million as it closes on its goal of $11.2 million. BTCMTX tokens are currently priced at $0.0133 but the price will increase in less than four days. .
So, move quickly if you are interested to invest at the lowest possible price. BTCMTX tokens may be bought using USDT, ETH, or a credit card.
Visit the official website here.
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