5 DePin Coins to Add to Your Portfolio in September 2024

BE[IN]CRYPTO08-28

Bittensor (TAO), Livepeer (LPT), Edge Matrix Computing (EMC), MultiversX (EGLD), and Arweave (AR) are set to perform strongly in September. TAO and AR trade in bullish patterns, while LPT and EGLD ...

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Since the start of the month, the altcoin has been trading within an ascending channel.However, if profit-taking activity ensues, TAO will change its course and trend toward support. Should the bulls fail to defend support, the DePin token’s price may trend toward its August 5 low of $163.70.Edge Matrix Computing  is a decentralized AI computing power application network, and its EMC token has seen a surge in ","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4135":"资产管理与托管银行","TAO":"中国房地产指数ETF-Guggenheim","BK4150":"赌场与赌博","CMF":"iShares California Muni Bond ETF","RSI":"Rush Street Interactive, Inc.","EMC":"GLOBAL X EMERGING MARKETS GREAT CONSUMER ETF","LPT":"Liberty Property Trust","AR":"Antero Resources Corp","BK4585":"ETF&股票定投概念","SAR":"Saratoga Investment Corp","BK4213":"石油与天然气的勘探与生产","BK4588":"碎股"},"translate_title":"2024年9月将5枚DePin代币添加到您的投资组合中","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AR":1,"CMF":1,"EMC":1,"LPT":1,"RSI":1,"SAR":1,"TAO":1},"content_text":"Bittensor (TAO), Livepeer (LPT), Edge Matrix Computing (EMC), MultiversX (EGLD), and Arweave (AR) are set to perform strongly in September. \nTAO and AR trade in bullish patterns, while LPT and EGLD show strong momentum above key moving averages. \nEMC leads with a 163% surge, but overbought conditions may cause a pullback if demand weakens.\n\nTokens that power Decentralized Physical Infrastructure Networks (DePIN) are gaining traction, making them assets that investors should watch closely.\nAs September nears, key DePIN coins to prioritize include Bittensor (TAO), Livepeer (LPT), Edge Matrix Computing (EMC), MultiversX (EGLD), and Arweave (AR).\nBittensor (TAO) Trends in an Ascending Channel\nTAO, the altcoin powering Bittensor’s decentralized machine learning network, has seen its price rise by over 15% in the past week. Since the start of the month, the altcoin has been trading within an ascending channel.\nThis bullish pattern forms when an asset’s price moves between two upward-sloping parallel lines, with the upper line acting as resistance and the lower line serving as support.\nCurrently, TAO is nearing the upper line of this channel. A successful break above this resistance would indicate that the uptrend is likely to continue, fueled by increasing buying pressure. If this breakout occurs, TAO’s price could rally to a four-month high of $578.30.\nRead more: What Is DePIN (Decentralized Physical Infrastructure Networks)?\nBittensor Price Analysis. Source: TradingView\nHowever, if profit-taking activity ensues, TAO will change its course and trend toward support. Should the bulls fail to defend support, the DePin token’s price may trend toward its August 5 low of  $163.70.\nLivepeer (LPT) Climbs Above Key Moving Averages\nLPT, the token powering Livepeer, a decentralized video infrastructure network, has seen its value surge by 28% in the last week. This double-digit gain has pushed the altcoin’s price above both its 20-day exponential moving average (EMA) and 50-day simple moving average (SMA), indicating strong bullish momentum.\nLPT’s 20-day EMA, which tracks its average price over the past 20 trading days, currently stands at $13.73. Meanwhile, its 50-day SMA, a longer-term moving average reflecting the average closing price over the past 50 days, is at $13.35. \nLivepeer Price Analysis. Source: TradingView\nTrading at $14.45, LPT is currently positioned higher than both its 20-day EMA and 50-day SMA. When an asset’s price surpasses these averages, it indicates growing momentum and a likely continuation of the uptrend. Should LPT decline, these levels may act as support, enhancing the chances of a rebound.\nEdge Matrix Computing (EMC) Sees Surge in Demand\nEdge Matrix Computing (EMC) is a decentralized AI computing power application network, and its EMC token has seen a surge in demand over the past week. Trading at $0.22, EMC has experienced a 163% price increase, making it the DePin asset with the most growth during this period.\nThe token’s technical setup indicates that this price hike is driven by genuine demand. For example, its Chaikin Money Flow (CMF), which measures the flow of money into and out of an asset, is currently in an uptrend and sits at 0.13, indicating significant liquidity inflow.\nAdditionally, EMC’s Relative Strength Index (RSI) is at 68.90, suggesting that buying pressure is strong and outweighs sell-offs among market participants.\nEdge Matrix Computing Price Analysis. Source: TradingView\nIf demand for EMC remains high, its price could rise to $0.48, a level it last reached in May. However, with the RSI approaching the overbought zone (crossing above 70), the token may be nearing a point of buyer exhaustion, potentially leading to a pullback. If this occurs, EMC’s price could drop toward $0.07.\nMultiversX (EGLD) Witnesses Spike in Bullish Bias\nEGLD has experienced strong bullish sentiment over the past week, resulting in an 11% price increase. Several technical indicators suggest that this bullish trend may continue, potentially leading to further gains.\nFor instance, the Parabolic Stop and Reverse (SAR) indicator shows dots positioned below EGLD’s current price, signaling an ongoing uptrend. The SAR tracks an asset’s price direction and helps identify potential reversal points; when the dots are below the price, it suggests that the asset is in an upward trend, with the potential for continued growth.\nAdditionally, EGLD’s Awesome Oscillator (AO) is displaying green histogram bars, which typically indicate a bullish trend or the possibility of an upward reversal.\nMultiversX Price Analysis. Source: TradingView\nIf the current bullish momentum holds, EGLD could target a price of $33.80, representing a 10% increase from its current value of $30.75. However, if market sentiment shifts from bullish to bearish, EGLD’s price could decline to $21.77, its lowest level since the August 5 market drawdown.\nArweave (AR) Shows Strong Accumulation, Trades on an Ascending Trendline\nArweave, a decentralized storage network, has seen its AR token rebound after hitting a six-month low of $16.10 on August 5. The price has since rallied, following an ascending trendline that indicates increased accumulation of AR over the past few weeks. Currently trading at $25.22, AR’s price has surged by 56%.\nThe Moving Average Convergence Divergence (MACD) indicator supports the potential for an extended rally. At press time, the MACD line (blue) is above the signal line (orange) and is attempting to cross above the zero line.\nThis suggests that the shorter-term moving average is rising faster than the longer-term one, which traders interpret as a bullish signal to go long and exit short positions.\nRead more: Top 10 Web3 Projects That Are Revolutionizing the Industry\nArweave Price Analysis. Source: TradingView\nIf AR continues its uptrend, its price could reach $28.88. However, if buying pressure weakens, the DePin token may retrace and revisit its August 5 low.\n\n\n\n\nTop crypto platforms | August 2024\n\n\n\nAlgosOne\nExplore\n\n\n\n\n\n\nBYDFi\nNo KYC\n\n\n\n\n\n\nM2 Exchange\nExplore\n\n\n\n\n\n\nExodus\nExplore\n\n\n\n\n\n\nСoinex\nExplore\n\n\n\n\n\n\n\n\n\nTop crypto platforms | August 2024\n\n\nAlgosOne\n\n\n\n\n\n\n\n\nBYDFi\n\n\n\n\n\n\n\n\nM2 Exchange\n\n\n\n\n\n\n\n\nExodus\n\n\n\n\n\n\n\n\nСoinex","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2462574103"}