ZetaChain Price Prediction: ZETA Plunges 16% as Analysts Say Bitcoin Cloud Mining Project Could Increase 10X.

adminFebruary 7, 2024

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ZetaChain price has traded down 16% in the last 24 hours. $1.22 8:30 AM EST.

This sharp correction comes after the token surged 121% over the past seven days.

ZetaChain Price Prediction: Will ZetaChain Recover?

Analyzing the 1-hour ZETA/USDT chart, we can see the downtrend indicated by the red candle and the SuperTrend indicator in bearish territory, with the line above the price action. This shows short-term bearish selling pressure on ZetaChain price.

Additionally, the average directional index (ADX) is 40.70, indicating a strong downward trend. On the other hand, the Klinger oscillator value is negative, around -47.904K, suggesting bearish momentum. The Klinger Oscillator is used to predict trend direction. Negative values often indicate 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, close to the oversold threshold of 30. This could suggest that the asset is undervalued or that a potential trend reversal could occur if the RSI starts to rise.

Looking longer-term, the notable rise in Zetachain’s TVL to $642,000 over the past few days could see the token re-enter a bull market as investor confidence increases.

ZetaChain TVL Statistics Snap | Source: DefiLlama

Meanwhile, Solana’s outage became a hot topic as ZetaChain price plummeted.

Solana Mainnet-Beta is currently experiencing performance degradation as mentioned. @laine_sa_.
Our verifiers and core engineers are investigating the situation. We’re keeping you posted. https://t.co/VSzOAAvIXV
— Solana FM (@solanafm) February 6, 2024

The Solana network outage affected many projects, and several exchanges suspended Solana-related trading. These events highlight the need to invest in tokens running on powerful blockchains through Ethereum-based projects such as: Bitcoin Minetrix I am using this as an example.

Bitcoin Minetrix is witnessing an increasing number of investors participating in its BTCMTX token presale as its funding exceeds $10.3 million.The Ethereum blockchain boasts 9 years without any downtime.

Investors worried about the recent Solana outage may begin to shift their investments to Ethereum-hosted applications.

A promising alternative to ZETA?

Bitcoin Minetrix is a new cloud mining startup evaluated by analysts. Best Cryptocurrency Projects of 2024. Thanks to Bitcoin Minetrix’s cloud mining and staking integration, you no longer need expensive mining equipment and anyone can afford to mine Bitcoin.

Users can control all aspects of cloud mining using Bitcoin Minetrix’s stake-mining feature. You can participate in decentralized Bitcoin mining using cloud mining credits earned by staking BTCMTX tokens without the fraud risks associated with third-party cloud mining services.

BTCMTX staking is an additional passive way to earn platform tokens with a current annual return of 65%. A total of over 642 million tokens have been staked.

Another way to earn BTCMTX tokens is by participating in Minedrop contests. The total prize money for this event is $30,000, with 10 winners receiving $3,000 each.

🎉 #Bitcoin Metrics $30,000 Minedrop is now available! 🎉
Get ready for your chance to win $30,000 worth of prizes $BTCMTX!
For your chance to win one of 10 $3,000 prizes, follow the steps in the link below. $BTCMTX Goods! 💰
➡️ https://t.co/v1UKskxi4Y pic.twitter.com/nseOBTNO9N
— Bitcoin Minetrix (@bitcoinminetrix) October 5, 2023

With ZetaChain price currently undergoing a correction, investors who missed out still have the opportunity to reap massive capital gains and lucrative rewards through the Bitcoin Minetrix pre-sale.

Jacob Bury, an influential cryptocurrency expert with over 27,000 YouTube followers, has the following endorsement: Bitcoin MinetrixWe predict it has 10x potential at launch.

To date, BTCMTX presales have raised $10.3 million, meeting the $11.2 million goal. The price of BTCMTX token is currently $0.0133, but the price is expected to increase within 4 days. .

So if you want to invest at the lowest possible price, move quickly. BTCMTX tokens can be purchased using USDT, ETH or credit cards.

Visit the official website here.