With the cryptocurrency market continuing to experience volatility this week, investor interest may be shifting toward regional narratives and specific ecosystem tokens.
Among the standouts are coins with strong development ties to China, often dubbed “Made in China” tokens. They include Huobi Token (HT), Nervos Network (CKB), and Zilliqa (ZIL).
Huobi (HT)
HT is the native token of the Huobi Global exchange, one of the largest digital asset platforms originally founded in China. Amid the broader market’s lackluster performance, HT is up 23% over the past week, making it a key made in China coin to look out for this week.
Key technical indicators confirm the growing optimism around the altcoin. For example, HT’s Relative Strength Index (RSI) is at 55.64 and rising at press time, showing the growth in buy-side pressure.
The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.
HT’s RSI readings indicate market participants prefer accumulation over distribution. If this trend continues, its price could climb to $0.29.
On the other hand, a decline in accumulation could send HT’s value down to $0.21.
Nervos Network (CKB)
Nervos Network is an open-source public blockchain ecosystem. Its native token CKB has recorded a 13% spike over the past week, making it one of the made in China coins to watch this week.
On the daily chart, its Aroon Up Line is at 92.86% as of this writing. This means CKB’s current uptrend is strong, backed by significant demand and not driven by speculative trades.
An asset’s Aroon Indicator measures the strength and direction of a trend by tracking the time since the highest and lowest prices over a given period. It comprises two lines: Aroon Up, which measures bullish momentum, and Aroon Down, which tracks bearish pressure.
As with CKB, upward momentum is dominant when the Aroon Up line is at or near 100. This suggests that buying pressure is high, and CKB’s price may continue rising.
It could break above $0.0038 to trade at $0.0040 in this case.
However, if profit-taking commences, the token’s price could dip to $0.0033.
Zilliqa (ZIL)
ZIL trades at $0.0108, noting a 4% price uptick in the past seven days. Its steady rally has pushed the price above the 20-day exponential moving average (EMA).
The 20-day EMA measures an asset’s average price over the past 20 trading days, giving weight to recent prices. When price trades above the 20-day EMA, it signals short-term bullish momentum and suggests buyers are in control.
If this continues, ZIL could extend its rally to trade at $0.0116.
However, if buying stalls, the token’s price could fall under $0.0107.
Disclaimer
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