Two "Chinese Circle" tokens worth following in July: CKB and ZIL ecological narrative interest increases.
As the cryptocurrency market continues to experience fluctuations this week, investors’ interest may shift towards regional narratives and tokens belonging to specific ecosystems. Among these, the most prominent are tokens closely related to the development of the Chinese community. Typical examples include Nervos Network (CKB) and Zilliqa (ZIL).
CKB
CKB is an open-source public chain ecosystem. Its native Token CKB has increased by 13% in the past week, making it one of the “topics of interest” tokens in the Chinese community this week.
On the daily chart, the Aroon Up Line indicator for CKB is at 92.86% at the time of writing. This indicates that the current upward trend of CKB is very strong, supported by actual demand rather than speculative trading.
The Aroon indicator measures the strength and direction of a trend by tracking the time it takes for the price to reach the highest and lowest points within a given period. It consists of two lines: the Aroon Up line indicates bullish momentum, while the Aroon Down line indicates bearish pressure.
Taking CKB as an example, when the Aroon Up approaches 100, it reflects that bullish momentum is dominant. In other words, buying pressure is strong, and the price of CKB may continue to rise.
If the current trend continues, CKB may break through the level of 0.0038 USD, aiming for the level of 0.004 USD.
However, if profit taking begins, the price may drop to $0.0033.
(Source: Trading View)
ZIL
The current trading price of ZIL is $0.011, with a 4% increase over the past week. The steady rise has pushed the price above the 20-day Exponential Moving Average (EMA 20).
The 20-day moving average measures the average price of an asset over the past 20 trading days, with more weight given to recent prices. When the price is above the 20-day moving average, it indicates a strong short-term bullish momentum and suggests that buyers are in control.
If this trend continues, ZIL may extend its upward momentum and reach a price of $0.0116.
However, if buyers stagnate, the Token price may fall below 0.0107 dollars.
(Source: Trading View)
