Altcoins

These Altcoins are expected to outperform the crypto market in May!

Published

3 months ago

8 May, 2024

These Altcoins are expected to outperform the crypto market in May!

The cryptocurrency sector managed to register a bullish reversal in its chart as major altcoins saw significant gains in their respective portfolios over the past seven days. In addition, the market leader, BTC Pricereclaimed the $65,000 mark, highlighting strong bullish sentiments.

With investors’ growing interest in mid- and small-cap altcoins to maximize profits, the crypto market is poised to see significant price action in May. In this article, we have covered 4 altcoins that have the potential to outperform major cryptocurrencies this month.

Ethena (ENA):

THE Ethena Price posted significant price action adding 11.89% to its portfolio in the last 24 hours and a 24-hour trading volume of $331.92 million. Additionally, the price broke through its resistance level of $0.90, highlighting the positive outlook for the altcoin in the times to come.

TradingView: ENA/USDT

Additionally, the altcoin has added 16.73% over the past seven days and its year-to-date return (YTD) stands at 34.13% in valuation. With the increasing bullish influence, the ENA coin prices is poised to hit a new ATH over the next few months.

The technical indicator, MACD, is showing a steady rise in the green histogram with its averages showing bullish price action. Additionally, the simple moving average (SMA) supports ENA price, indicating a strong positive influence on the altcoin in the crypto market.

If the market sustains the price above the $0.90 support level, the bulls will prepare to test its upper resistance level of $1.325 this month. However, a bearish trend reversal could pull Ethena price towards its crucial support level of $0.70 in the coming times.

AIOZ Network (AIOZ):

The AIOZ network is a DePin for Web3, which allows faster, more secure decentralization. It has attracted considerable attention from the crypto industry following the artificial intelligence (AI) hype.

TradingView: AIOZ/USDT

AIOZ price increased by 12.04% over the past day and a trading volume of just over $10 million. Additionally, it has gained 24.63% in the last seven days and has added 448.56% year-to-date.

The Relative Strength Index (RSI) managed to break above the midpoint by showing a significant rise on its chart over the past week. However, the averages are moving closer to the neutral point, highlighting the uncertainty over the future price movement of this altcoin.

If the market continues to trade under bullish influence, AIOZ price will prepare to test its upper resistance level of $1.029. Conversely, if the bears dominate the bulls, the price will fall towards its support level of $0.684 in the coming week.

Hedera (HBAR):

After trading in bearish sentiment for a brief period, the Hedera Price posted a strong bullish reversal adding around 10% over the past day. Additionally, this altcoin has added 13.59% over the past 30 days and has a year-to-date gain of 39.87%, suggesting bullish power in the crypto space.

TradingView: HBAR/USDT

The Moving Average Convergence Divergence (MACD) displays a consistent green histogram in the 1D timeframe, highlighting increased buy-on-sell pressure in the crypto space. Additionally, the averages show a bullish rise suggesting a positive outlook for the altcoin this week.

If the market holds the HBAR Price above the $0.120 support level, the bulls will regain momentum and prepare to test its upper resistance level of $0.160 in the coming weeks. Negatively, a downtrend reversal could pull the price towards its low of $0.10.

Ondo (ONDO):

After its launch on January 18 at a price of $0.08355, this year ONDO price attracted considerable attention in the market, which allowed the Ondo crypto to add around 700% in a few hours.

TradingView: ONDO/USDT

Positively, the altcoin added 8.19% over the past day and 13.04% over the past seven days. Moreover, its return stood at 941.94% since its inception at the time of writing this article.

The MACD is showing strong bullish price action, with its averages successfully recording an uptrend in its chart. On the other hand, the SMA supports the price chart, which suggests that ONDO price will continue to gain value in the coming times.

If the bulls continue to gain momentum, the Ondo token will prepare to test its upper resistance level of $1 by next weekend. On the other hand, if the bears take control of the market, the price will lose momentum and test its crucial support level of $0.736 this month.

Also discover: Top Altcoins with High Chances of Relief Rally Next Week

Fuente

Altcoins

Best Altcoins for the Next Bull Cycle: Santiment’s Recommendations

Published

3 hours ago

27 July, 2024

TokenTalk Staff

Best Altcoins for the Next Bull Cycle: Santiment’s Recommendations

As Bitcoin (BTC) approached the $67,000 mark on Friday, the altcoin market, led by Ethereum (ETH)has shown strong bullish signals. Many altcoins are reaching the peak of a multi-week consolidation phase that began earlier this year. On-chain data also indicates that institutional investors have been actively buying crypto assets, preparing for the next phase of the bull market.

Additionally, several altcoins have recently retested the bullish breakout of the overall downtrend. With Bitcoin dominance set to decline, focusing on the altcoin market could be a smart move to maximize returns.

Expert advice: What should you pay attention to?

According to market intelligence platform Santiment, investors should keep an eye on the average trading returns of different assets.

After critically analyzing market data, Santiment believes that Shiba Inu (SHIB), Uniswap (UNI), Polygon (MATIC), Chainlink (LINK), Cardano (ADA), and Ripple-backed XRP are the best large-cap altcoins to buy now to maximize profits in the future.

Meanwhile, Santiment pointed out that Toncoin (TONNE), Bitcoin, Ethereum (ETH), and Dogecoin (DOGE) present a higher risk to maximize profits in the planned alternative season.

Market Outlook: Volatility Ahead?

With the Federal Open Market Committee (FOMC) expected to deliver its policy statements next week, increased volatility in the cryptocurrency market is likely. Furthermore, historical data suggests that August could bring a bearish trend for the sector.

Despite this, the cryptocurrency market is expected to turn bullish again in the fourth quarter, driven by the US elections and anticipated interest rate cuts.

Invest smart. The future of cryptocurrencies is bright.

Fuente

Altcoins

Analyst Says Ethereum-Based Altcoin “Looks Strong As Hell,” Outlines Path Ahead For Bitcoin And Solana

Published

4 hours ago

27 July, 2024

TokenTalk Staff

Analyst Says Ethereum-Based Altcoin “Looks Strong As Hell,” Outlines Path Ahead For Bitcoin And Solana

A widely followed crypto analyst and trader believes a memecoin is headed for the next leg higher.

Pseudonymous crypto trader Altcoin Sherpa tell his 216,400 followers on the social media platform X that Pepe (PEPE) market fundamentals appear solid.

“PEPE: I never got a chance to add $0.00001111, but I’m still in it. He seems pretty strong. I’m still a big fan of memes in general.”

Source: Altcoin Sherpa/X

Pepe is trading at $0.00001128 at the time of writing, down 8% in the last 24 hours.

Then the analyst said Ethereum (ETH) rival of Solana (GROUND) has greater upside potential due to network activity.

“SOL: Go long on Solana. Why? Because SOL memes continue to take off and everyone is denominated in Solana. Being in the trenches of crap money really helps you understand this stuff better. I expect a pullback soon, but this would be the bottom to buy in my opinion.”

Source: Altcoin Sherpa/X

Looking at the analyst’s chart, he suggests that SOL could eventually reach $205.

Solana is trading at $166 at the time of writing, down 6.7% in the past 24 hours.

Finally, the analyst said that Bitcoin (Bitcoin) appears to be in an uptrend but could retest the $63,000 level.

“BTC: Price still looks pretty strong to me. If you really want a dip to get in, look for $63,000 around the 200 four-hour exponential moving average (EMA). For now, things should continue in my opinion.”

Source: Altcoin Sherpa/X

At the time of writing, Bitcoin is trading at $64,596, down nearly 2% in the past 24 hours.

Don’t miss a thing – Subscribe to receive email alerts directly to your inbox

Check Price action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated image: DALLE3

Fuente

Altcoins

XRP, ADA, and Other Altcoins to Accumulate Ahead of Trump’s Nashville Speech

Published

5 hours ago

27 July, 2024

TokenTalk Staff

XRP, ADA, and Other Altcoins to Accumulate Ahead of Trump's Nashville Speech

Bitcoin has recovered most of its losses from the week as traders eagerly await former U.S. President Donald Trump’s appearance at the Bitcoin 2024 conference in Nashville, Tennessee. Interestingly, Bitcoin gained over 1% today as Trump appears to have changed his stance on digital currencies this election cycle.

Analysts Buzz About Altcoins said that this week, crypto whales have been quietly accumulating several altcoins, showing confidence in their short-term potential despite recent performance declines. Here are the top altcoins:

Arbitration:

Current price: $0.72

Whale activity:Despite its significant decline since the start of the year, Arbitrum has seen an 87% increase in net inflow from large holders over the past week. This suggests that whales believe in the token’s long-term potential. Arbitrum, a Layer 2 scaling solution for Ethereum, aims to improve transaction speeds and reduce costs on the Ethereum network. The recent accumulation of whales could indicate confidence in its technology and future adoption.

XRP:

Current price: $0.59

Whale activity:According to Santiment, the number of addresses holding between 100 million and 1 billion XRP tokens has increased since July 23. This shows that the supply has increased from 38% to 40%, which is a sign of growing confidence among large holders. XRP has benefited from recent legal victories and market sentiment, making it an attractive option for whales.

Cardan:

Current price: $0.41

Whale activity:Cardano saw a staggering 10,878% increase in large holder inflows in a single day, surpassing the 5 billion mark. This indicates a significant level of confidence among whales in ADA’s recovery potential. Cardano’s recent upgrades and continued development have been positively received by the market, contributing to its attractiveness.

Chain link

Current price: $13.55

Whale activity: Chainlink recently integrated its Cross-Chain Interoperability Protocol (CCIP) with TrueFi on the Ethereum and Arbitrum blockchain platforms. TrueFi, backed by Coinbase and Chainlink, provides transparent and real-time financial data, improving the decentralized finance (DeFi) ecosystem. This integration could drive increased adoption and usage of Chainlink, making it a popular choice among whales.

Fuente

Altcoins

Ethereum (ETH) ETF Fails to Spark Altcoin Season, Market Rebounds Above $1 Trillion

Published

6 hours ago

27 July, 2024

TokenTalk Staff

The rebound in altcoin market cap to $1 trillion slightly changes the positive dynamics for the much-anticipated altcoin season in Q3 2024.

Bulls took control of today’s session, pushing the total cryptocurrency market cap to $2.39 trillion, up 4% in 24 hours at press time. Total trading volume stands at $82.2 billion, up 4.4% in 24 hours, at the time of writing.

The Ethereum ETF was supposed to be the flagship of the altcoin season, but the response so far suggests nothing in its favor.

Altcoin market cap is moving in a flag pattern, a steady rise above $1.56T could trigger the altcoin rally and lead to the altcoin season with favorable market conditions.

Ethereum ETF Potential Stabilizes

The Ethereum ETF got off to a strong start with $1 billion in trading volume on its first day with massive inflows and outflows. This activity attracted a lot of money to Ethereum but failed to circulate among other altcoins.

With the launch of Ethereum, market sentiments were poised to trigger the altcoin season, but the cooling volume of the ETH ETF and the distributed interest in the BTC ETF could not muster enough power.

While the price of Ethereum (ETH) is yet to react, experts predict that the price will see a massive surge between $4,000 and $7,000. At the time of writing, ETH is trading at $3,271 with a 24-hour growth of 3.08%.

Altcoin Season Indicator Kills All Hopes.

The required demand for the altcoin season has not been met by the cryptocurrency markets and this can be seen in the Altseason Season Index indicator which is below the threshold of 25.

A push above 75 will mark the start of altcoin season.

Source Blockchain Center

Furthermore, analyzing the performance of the top 50 assets in 90 days shows that only 11 of them have outperformed BTC.

To kick off the official altcoin season, at least 75% of assets must outperform Bitcoin.

An increase in inflows and the return of investors in September and October could potentially trigger the altcoin season we have all been waiting for.

Fuente