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Altcoins

Top Trader Says New Altcoin Project Expected to Go Much Higher Amid “Reliable Setups” in Market

TokenTalk Staff

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Top Trader Says New Altcoin Project Expected to Go Much Higher Amid “Reliable Setups” in Market

A widely followed crypto analyst believes that an Ethereum (ETHThe )-based decentralized finance (DeFi) token is being set up for a big rally.

According to pseudonymous trader The Flow Horse, Ethena’s governance token (ENA) is one of many new altcoins presenting opportunities, but requires patience for reward.

“There are a few pairs I’m looking at that are relatively new and have had their first longer withdrawals, similar to the ENA below.

Almost all new alts offer a very basic and reliable diagonal spread setup if you are patient enough.

I think it will go much higher. Unlocks are still a year away.

Source: The flux horse/X

According to another crypto analyst called Altcoin Sherpa, ENA appears it is likely to extend its bullish momentum after retesting the Fibonacci retracement level at $0.76.

“ENA: I came out of that one but I think it looks solid. .618 Fibonacci + support/resistance level and the market looks okay.

Source: Altcoin Sherpa/X

Looking at the altcoin markets as a whole, another pseudonymous trader known as Rekt Capital tell its 461,000 followers on social media platform 250 billion dollars.

Based on his chart, the analyst appears to be initially targeting the $315 billion level before hitting old highs near $425 billion.

“Altcoin market cap still holds the $250 billion support, positioning itself for future upward movement via the dark path.”

Source: Rekt Capital/X

ENA is worth $0.885 at the time of writing, up 8% on the day.

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

Featured image: Shutterstock/NextMarsMedia/Natalia Siiatovskaia



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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Altcoins

Now is the ‘best’ time to stack Altcoins as it’s the final ‘bottom’: Analysts issue warning

TokenTalk Staff

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

Altcoins have begun to confuse analysts and investors, lacking clear guidance and seemingly stuck in a rut. Let us nevertheless examine the point of view of analysts wishing to decipher what is happening.

Analyst Mustache voiced optimism on its bullish outlook. Mustache cautioned against influencing short-term market fluctuations, viewing them as simply a retest, in his view.

Defi analyst Wolf dives into X and said it’s frustrating that people are complaining about RUNE’s price when all altcoins are struggling. He reminded everyone that RUNE went from $0.8 to $11 in seven months. Despite the current low interest in altcoins, RUNE’s fundamentals are at their best. He believes altcoins will soon shine again and RUNE will be one of the best performers. “We will see each other at new historic heights,” he concluded. This says a lot about what the analyst thinks about the altcoin rally.

Analyst Michael Van De Poppe wrote on You rode the wave. You wish you could have shopped here just three months ago. You will be happy for the 3-6 months you occupied during these periods.

Virtual Bacon suggested that altcoins could be about to bottom out, advising against selling at this point. For those looking to enter the market, he suggested now would be an opportune time to start taking action.

On the other hand, Poseidon highlighted that Bitcoin’s dominance respected the weekly ema21 without breaking this trend. If weekly closes begin to drop below this trend and the critical support/resistance level of 53.5%, it could pave the way for altcoins to flourish, potentially entering a phase of major gains.

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Altcoins

Shiba Inu Eyes Recovery, Analyst Eyes Rise to $0.0001

TokenTalk Staff

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Shiba Inu Eyes Recovery, Analyst Eyes Rise to $0.0001

Shiba Inu (SHIB) is currently eyeing a recovery surge as it slides into the oversold region, with one market analyst predicting an imminent rise to $0.0001.

The recent market bloodbath claimed many lives, and Shiba Inu was one of them. In particular, the Crypto Basic confirmed that the turmoil, which analyst Mike Deutscher attributed to “altcoin dispersion,” led to a loss of $137 billion in the combined market capitalization of the top 125 altcoins in two weeks.

Specifically, Shiba Inu lost $4.21 billion in valuation during this period, as its market cap fell to $10 billion. This is due to a fall from a high of $0.00002633 on June 5 to the current value of $0.00001820, representing a massive collapse of 31% in just two weeks.

Shiba Inu now extremely oversold

Although this decline has left many investors in a losing position, some technical indicators have slipped into bullish regions. For example, the Shiba Inu Relative Strength Index (RSI) has since fallen to an all-time low of 15, according to the market. data from CryptoQuant.

Shiba Inu RSI oversold CryptoQuantShiba Inu RSI oversold | CryptoQuant

This extremely low value indicates that SHIB is significantly oversold. This low RSI value suggests that selling pressure is very high and Shiba Inu may be undervalued. The current position of the RSI is generally interpreted as a potential buying opportunity, with market analysts expecting a price reversal or rebound soon.

With Shiba Inu Eyeing a recovery from recent lows, market participants are increasing their holdings in anticipation. Santiment data shows that small investors holding between 100,000 and 1 million tokens purchased 2 billion SHIB this month, while large whales holding at least 1 trillion SHIB accumulated nearly 500 billion tokens .

Shiba Inu addresses Santiment 4Shiba Inu addresses Santiment 4Shiba Inu Addresses | Feeling

An imminent recovery

Interestingly, market analyst Sam_TCR predicted this rally in a previous TradingView. analysis. The analysis was carried out when Shiba Inu had not fallen to this level, trading at $0.000022. With SHIB now below the $0.00002 level, the analyst’s projection of a resistance point at $0.00002320 remains valid.

According to him, if Shiba Inu manages to cross the $0.00002320 level, its next resistance will be at $0.00002550. He predicted that a push above the $0.00002550 roadblock would pave the way for an imminent rally towards the coveted $0.0001 price. Michael, another analyst, also waits a rally to the $0.0001 level.

Meanwhile, at its current price of $0.00001820, SHIB faces more formidable resistance on the way to $0.0001. The token must first break through the psychological $0.00002 level before using it as a launchpad for significant upside.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.

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Altcoins

Arthur Hayes Doubles Down on Dogecoin (DOGE) and One DeFi Altcoin Amid Crypto Downturn

TokenTalk Staff

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Arthur Hayes Doubles Down on Dogecoin (DOGE) and One DeFi Altcoin Amid Crypto Downturn

BitMEX Co-Founder Arthur Hayes Increases His Bullish Sentiment on Dogecoin (DOGE) and Pendle (PENDLE) despite the sudden slowdown in crypto.

Hayes tell its 524,900 followers on social media platform

“I love this choppy downward trend in shitcoin prices. I add PENDLE and DOGE to my bags.

DOGE is trading at $0.12 at the time of writing, up more than 2% in the last 24 hours. Meanwhile, PENDLE is trading at $5.65 at the time of writing, up almost 13% on the day.

Hayes, who is also an advisor to the Pendle project, was recently spotted will lock $8.4 million worth of PENDLE tokens until September 5 this year.

PENDLE, the platform’s native token, can be used to earn rewards by those who provide liquidity to the protocol. The PENDLE token lock can last up to two years and allows users to vote on governance proposals while earning 3% of all yield accrued by its Yield Bearing Tokens (YT).

Another project that Hayes said he is optimistic about is Ethereum (ETH) competitor Aptos (APT). Hayes predicted that the Aptos layer 1 (L1) smart contract blockchain will surpass Solana (GROUND) this market cycle in one to three years.

Aptos is trading at $6.81 at the time of writing, up more than 2% in the last 24 hours.

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

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Altcoins

The ALTcoin market has an incomplete impulse cycle

TokenTalk Staff

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The ALTcoin market has an incomplete impulse cycle

https://news.google.com/./articles/CBMiXWh0dHBzOi8vd3d3LmJhcmNoYXJ0LmNvbS9zdG9yeS9uZXdzLzI2OTM3NDcyL2FsdGNvaW4tbWFya2V0LWhhcy1hbi1pbmNvbXBsZXRlLWltcHVsc2l2ZS1je WNsZdIBAA?hl=en-US&gl=US&ceid=US%3Aen

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Copyright © 2024 TOKENTALK.TOP. All rights reserved. This website provides educational content and highlights that investing involves risks. It is essential to conduct thorough research before investing and to be prepared to assume potential losses. Be sure to fully understand the risks involved before making investment decisions. Important: We do not provide financial or investment advice. All content is presented for educational purposes only.