Bitcoin (BTC) has bounced dorsum above the $32,000 level today, just Guggenheim chief investment officer Scott Minerd believes that the current institutional need is non sufficient to proceed the price above $30,000 for long. Despite this view, Minerd continues to believe that the electric current downturn does not modify the long-term bullish story of Bitcoin.

Crypto market place data daily view. Source: Coin360

While several institutional investors are turning positive on Bitcoin equally a store of value, BlackRock CEO Larry Fink does not seem impressed. Fink pointed out the volatility and chosen Bitcoin "a very small-scale market" that is affected by small-dollar investments. Although Fink said that "some form of a digitized currency is going to play a bigger role in the future," he was unsure if it would be Bitcoin.

A cryptocurrency that has a potent use case and can go along up with the e'er-growing demands of crypto users may have good future prospects. The tokens selected today are strong contenders that make full each of these criteria.

RSR/USD

The Reserve protocol aims to reach the unbanked, aid people transact and preserve wealth against the devaluation of a currency past using a stablecoin. This is a stiff utilise instance, especially in countries that suffer from the clutch of hyperinflation.

The team is currently mainly operating in Venezuela and Argentina, where the local fiat currencies have rapidly lost their purchasing ability. Initially, the team wants to concentrate on streamlining the process. Diverse incentive measures for growth are planned for the subsequently part of the twelvemonth.

In a recent ask-me-anything session, Reserve co-founder Nevin Freeman said the protocol aims to do a mainnet launch in 2021 but refrained from putting a timeline to it. The protocol wants to expand its team to speed up the process, and information technology'southward on the lookout for new engineers. The mainnet's launch may also open arbitrage opportunities for Reserve Rights (RSR) tokenholders.

The squad is also in discussion with PayPal about allowing users to cash out using the platform. Reserve expects the results of the deliberation in the get-go quarter of this year.

RSR corrected from an intraday high at $0.04941 on Jan. eighteen to a depression at $0.03086 on January. 27, a fall of 37% in the past 10 days. The price has currently rebounded off the breakout level of $0.030, which suggests the previous resistance has flipped to support.

RSR/USDT daily chart. Source: TradingView

If the bulls can push the price in a higher place the 20-twenty-four hour period exponential moving average ($0.036), a motion to $0.042 and so a retest of $0.04977 is possible. A breakout of this resistance will resume the uptrend, with the adjacent target objective at $0.065.

On the other paw, if the cost turns down from the 20-day EMA, it will propose the sentiment has turned bearish and traders are looking to sell on rallies. If the bears tin can sink the price beneath the 50-24-hour interval simple moving boilerplate ($0.0297), the pair could drop to $0.025.

Such a motion volition bespeak the bullish momentum has weakened and bears have fabricated a improvement.

ZRX/USD

As the crypto market matures, the popularity of decentralized exchanges is on the rise, and 0x is one of the beneficiaries. The community recently voted to upgrade the protocol to version iv, which promises several improvements to its users.

This upgrade is expected to result in gas savings of up to 70% for requests on quote and 10% for limit orders, compared with the previous version. The protocol also highlights that the upgrade has fabricated information technology cheaper for users to merchandise on Uniswap and SushiSwap using 0x version four rather than on their native platforms.

Users seem to be impressed with the new features, and the exchange recorded a 24-hour trading volume tape of $200 one thousand thousand recently. The latest version is also machine-upgradable, allowing time to come changes to exist incorporated hands.

0x's ZRX token has risen from an intraday depression at $0.4337 on Jan. 22 to an intraday loftier at $0.6688 today, a 54% rally in seven days. The cost is currently forming a rounding bottom design, which points to a possible trend reversal.

ZRX/USDT daily nautical chart. Source: TradingView

The 20-day EMA is sloping up and the relative force index (RSI) is in the positive territory, indicating bulls are in control.

The buyers pushed the cost higher up the $0.6310 resistance today, signaling the resumption of the uptrend. In that location is a minor resistance at $0.6784, but if that level is crossed, the ZRX/USD pair could rally to $0.75 and then to $0.85.

This bullish view volition invalidate if the price turns downwards from the electric current level or the overhead resistance and dips beneath the 20-twenty-four hour period EMA ($0.52). Such a move will suggest that supply exceeds demand. That may result in a fall to the 50-day SMA at $0.044.

KNC/USD

The decentralized finance space has evolved over the past few months, and a surge in transaction volumes has followed. To proceed upwards with the latest trends, Kyber Network has announced an upgrade to its protocol. The Kyber iii.0 upgrade will transition Kyber from a single protocol to a network of specialized liquidity pools, catering to diverse DeFi utilise cases.

A new automatic Dynamic Market Maker will allow permissionless liquidity contribution and enable the liquidity puddle creators to accommodate their pricing curves. The upgrade also attempts to reduce the damage from impermanent loss past automatically adjusting trading fees, which will exist increased during periods of loftier volume and decreased when the volume is low.

The Kyber DAO and the Kyber Network Crystal (KNC) token will be upgraded to a new token contract that aims to add to the token'southward governance power and create multiple streams of token utility. The upgrade is expected to be completed by the third quarter.

KNC corrected from $1.492 on Jan. 21 to an intraday low at $1.145 on Jan. 27, a 23% correction in seven days. Even so, the price has rebounded off the 20-twenty-four hours EMA ($1.22) today, indicating demand at lower levels.

KNC/USDT daily chart. Source: TradingView

The upsloping moving averages and the RSI in the positive territory suggest bulls take the upper hand. If buyers can push the price to a higher place the $1.36 to $1.50 resistance zone, the KNC/USD pair will complete a double lesser pattern, which has a target objective of $ii.02.

It may not be a straight dash to $2.02 because the bears are likely to defend the $one.80 resistance. If the price rebounds off $1.50, it will propose the sentiment remains positive and that bulls are buying the dips.

Contrary to this assumption, if the price turns down from $1.36 or $1.fifty and breaks below the 20-twenty-four hours EMA, it will signal selling at college levels. Such a move could continue the pair range-spring for a few more than days.

The views and opinions expressed hither are solely those of the writer and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a conclusion.