4 Altcoins Called Explosion This Week and Predictions! – TechnoPixel

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READING NOW 4 Alt­coins Called Explo­sion This Week and Predictions!

Bitcoin’s ral­ly improved the sen­ti­ment and attract­ed pur­chas­es in sev­er­al alt­coin projects. The strong recov­ery in Bit­coin sur­prised sev­er­al ana­lysts who were skep­ti­cal of the ral­ly. While some believe the cur­rent ral­ly is a dead cat bounce that will reverse direc­tion sharply, oth­ers see sim­i­lar­i­ties between the cur­rent ral­ly and the 2018 bear mar­ket rebound. On the oth­er hand, accord­ing to ana­lyst Rakesh Upad­hyay, the con­tin­ued recov­ery of Bit­coin may encour­age buy­ing in cer­tain alt­coins. Here are the alt­coin projects that show strength accord­ing to the analyst…

At the top of the alt­coin list is ApeCoin

ApeCoin has been fluc­tu­at­ing between $7.80 and $3 for the past few months. As the bears fail to push the price below the range, the bulls are try­ing to make a come­back. Accord­ing to the ana­lyst, they will try to push the price to the resis­tance of the range. The upward slop­ing mov­ing aver­ages and RSI in the over­bought zone sug­gest that the buy­ers have the upper hand. There is a minor resis­tance near $6.40, but if buy­ers can clear it, the APE/USDT pair could rise to $7.80. This lev­el could be the scene of aggres­sive sell­ing by the bears. The pos­i­tive view may be inval­i­dat­ed in the near term if the price declines and breaks below the 20-day EMA ($4.80). This could push the price down to the 50-day sim­ple mov­ing aver­age ($4.17).

The four-hour chart shows that the pair is in a strong uptrend. The bears are try­ing to stop the upside move at $6, but a pos­i­tive sign is that the bulls haven’t left much ground. This indi­cates that every lit­tle drop is bought. The bulls will now try to push the price above $6 and con­tin­ue the uptrend. On the con­trary, the bears will try to push the price below the 20-EMA. If they are suc­cess­ful, the pair can prof­it from short-term bulls. The pair could drop to $5 later.

What are the prospects for Decen­tra­land (MANA)?

MANA/USDT rose from $0.28 on Decem­ber 30 to $0.78 on Jan­u­ary 21, indi­cat­ing strong momen­tum in favor of the bulls. The bears sold above $0.74 after the Jan­u­ary 17 break­out, but the bulls stepped in and bought the dip at $0.61. This shows that sen­ti­ment remains pos­i­tive and traders see the dips as a buy­ing oppor­tu­ni­ty. The bulls will have to hold the price above $0.74 to sig­nal the start of the next leg of the recov­ery. Accord­ing to the ana­lyst, the MANA/USDT pair could rise to $0.87 and then to the psy­cho­log­i­cal bar­ri­er at $1.

“If the bears want to gain the upper hand, they will have to push the price below $0.61,” Upad­hyay said. If they do, the pair could start a deep­er cor­rec­tion towards $0.53.” The four-hour chart shows the for­ma­tion of an invert­ed head and shoul­ders pat­tern. If buy­ers push the price above the neck­line of the pat­tern, the set­up will com­plete and the pair could sky­rock­et towards its tar­get tar­get of $0.93. On the con­trary, if the price breaks down from the cur­rent lev­el and breaks below the mov­ing aver­ages, it will show that the bears are fierce­ly hold­ing the $0.74 resis­tance. The pair could lat­er decline to the $0.61 to $0.55 sup­port zone.

What’s next for AAVE/USDT?

Aave broke above the down­trend line on Jan 17, sig­nal­ing a poten­tial trend rever­sal. The bears tried to push the price below the down­trend line on Jan. 18, but the bulls held their ground. The ris­ing 20-day EMA ($74) and the RSI in the over­bought zone sug­gest that the bulls have the advan­tage. This advan­tage could be strength­ened fur­ther with a break above $92. The AAVE/USDT pair could then rise to the psy­cho­log­i­cal­ly impor­tant $100 level.

This lev­el can again pose a strong chal­lenge for buy­ers, but if they break this hur­dle, the pair could sky­rock­et to $115. Con­trary to this assump­tion, if the price turns down and breaks below the down­trend line, it will sig­nal that the bears are active at high­er lev­els. The advan­tage could tilt in favor of the bears with a break below the 20-day EMA.

The four-hour chart shows that the bears are defend­ing the zone between $88 and $91, but have not been able to push the price below the mov­ing aver­ages. This sig­nals a bull­ish sen­ti­ment where traders are buy­ing the lows. The bulls will make one more attempt to clear the upper zone. If they can achieve this, the pair could resume its uptrend. Instead, if the bulls fail to push the price above $91, the bears will attempt to push the pair below the mov­ing aver­ages. The pair could decline fur­ther to $78 and then to $73.

Last alt­coin on the list: Filecoin

File­coin, which is the stor­age alt­coin project, as we report­ed as Kriptokoin.com, broke above the down­trend line on Jan­u­ary 14 and retest­ed the break­out lev­el on Jan­u­ary 18. This indi­cates that the bulls have turned the down­trend line to sup­port. The mov­ing aver­ages have com­plet­ed a bull­ish crossover and the RSI is in the over­bought area, indi­cat­ing that the bulls are in con­trol. The FIL/USDT pair could ral­ly to $6.50 where the bears can put up a strong defense again. If the bulls push the price above this lev­el, the upside could reach $9 with a short pause around $7.

The 20-day EMA ($4.24) is impor­tant sup­port to watch out for on the down­side as a drop below it could turn the advan­tage in favor of the bears. The bears tried to stop the relief ral­ly at $5 but the bulls over­came this resis­tance and start­ed the next leg of the recov­ery. The upward slop­ing mov­ing aver­ages and the RSI in the over­bought zone sug­gest that the bulls are def­i­nite­ly in the driver’s seat. Buy­ers will try to push the pair towards $6.50 and then towards $7.

But if we look at the neg­a­tive fac­tors, the 20-EMA is the crit­i­cal sup­port to watch out for. If the price bounces back from this lev­el, it will indi­cate that the uptrend remains intact. On the oth­er hand, if the bears pull the price below the mov­ing aver­ages, the pair could drop to $4.20.

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