Category Archives: Altcoin
Ethereums price teeters: What about its bullish prediction? – AMBCrypto News
According to Whale Alert, a whale sent 14,610 Ethereum [ETH] tokens to the Coinbase exchange on the 30th of December. The transaction was the second one within 12 hours after an initial transfer involving 9,991 ETH.
As of this writing, the value of the transaction was worth $33.50 million. The move is a sign that the altcoin might be at risk of selling pressure.
If the cryptocurrency keeps experiencing a high inflow into exchanges, then the price could drop from $2,220.
Interestingly, the last week of 2023 has given the ETH a turnaround. On the 28th of December, the value of ETH hit $2,415 as AMBCrypto reported.
This increase gave the Ethereum community a glimmer of hope that the ETH price season to shine was close.
However, the past few days indicated that ETH holders might need to wait a little longer for an extended rally. But what do traders think of the price action?
AMBCrypto analyzed ETHs funding rate via the crypto analysis tool Santiment.
Funding rates show if long are paying a funding fee to shorts. It also indicates if its the other way around. If the Funding Rate is positive, then most traders are bullish. Also, a negative Funding Rate suggests more short positions than longs.
At press time, ETHs Funding Rate was 0.031%. This reading suggested that traders were bullish on the price at press time.
Another metric to consider in assessing market perception toward ETH is the Weighted Sentiment. From the chart above, the Weighted Sentiment had dropped from 2.47 to 0.48.
The decline suggested the broader market was being careful in betting on the Ethereum native cryptocurrency.
Regarding the Open Interest, Coinglass showed that the indicator had risen to $8.40 billion. Open Interest measures market sentiment and strength behind price trends.
So, the increase means that money was flowing into contracts related to ETH. However, it could also be a sign of strength for the downward trend ETHs price was going through.
From the ETH/USD 4-hour chart, the altcoin had felt the impact of the sell-offs as the price decreased to $2,290. A look at the Awesome Oscillator (AO) also showed that the momentum around the coin was bearish.
At the time of writing, the AO was -10.45.
Should the indicator remain that way, then ETHs price might plunge further. Another indicator to consider was the Fibonacci Retracement. At press time, the 0.786 Fib Retracement level was at $2,215.
Is your portfolio green? Check out the ETH Profit Calculator
This position indicated that ETH might drop to the region as long as selling pressure remained.
However, $2,215 could be a good entry. This is because ETH has the potential to rebound, since the price was a previous support level for the altcoin.
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Ethereums price teeters: What about its bullish prediction? - AMBCrypto News
Altcoins May Soon Fall Into the Sell the News Trap: Did the Bears Diffuse the Santa Rally? – Coinpedia Fintech News
The altcoins have gained extreme strength since the middle of October, which has lifted the markets close to the crucial resistance levels. With a nice push beyond the levels, the altcoins are expected to trigger a fresh upswing, which may even trigger a strong AltSeason. The markets appear to be allowing reloading and accumulating, as the biggest wave seems to be fast approaching.
A popular analyst, anonymously known as Stockmoney Lizards, points towards the altcoin market cap, which is heading towards the 2.618 FIB Extension level. The levels are expected to hold on around these levels for a few more days, and the ETF news is likely to lead to a short spike to achieve the levels around $235 billion. However, the analyst believes the levels could face rejection as they may fall into the trap of buy the rumour, sell the news..
Besides, Bitcoins dominance drops heavily and breaches the ascending trend line that it held since December 2022. The levels continue to mark fresh lower lows, and a weekly close below or within the levels may confirm the potential breakdown of the uptrend. This may offer the altcoins a great opportunity to propel and lay down a fresh upswing ahead.
The BTC dominance hit the yearly ATH of 55.26% a few days ago, and since then, the levels have continued to drop heavily. The dominance has dropped by over 6.5% and enters the crucial support zone between 51.69% and 52.03%. A weekly close below these levels that appears to be very likely may set the foundation for a strong AltSeason.
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Altcoins May Soon Fall Into the Sell the News Trap: Did the Bears Diffuse the Santa Rally? - Coinpedia Fintech News
Top Analyst Flips Bullish on Ethereum Layer-2 Altcoin, Says Clear Skies Ahead for One DeFi Crypto – The Daily Hodl
A crypto strategist who nailed the top of the Bitcoin (BTC) bull market in 2021 believes that one Ethereum (ETH) scaling solution thats trading under the radar will see a burst to the upside.
Pseudonymous crypto strategist Pentoshi tells his 727,200 followers on the social media platform X that hes bullish on Arbitrum (ARB).
According to the analyst, ARB will likely receive a shot in the arm if it manages to take out its immediate resistance at $1.70.
I think it needs to get over $1.70 to really get anyone excited. Has a great shot at trading up there near term.
At time of writing, ARB is trading for $1.38.
The analyst is also keeping an eye on Injective (INJ), a decentralized exchange that aims to offer a variety of financial products including spot trading and futures. According to Pentoshi, its clear skies for INJ as there is no resistance left to stop the altcoin from price discovery.
This is one of the craziest charts in the entire space, and currently in price discovery. So right now its clear skies. I dont know if you get it, but I think under $30 is a buy if given the chance.
At time of writing, INJ is trading for $42.14.
The analyst is also looking at Optimism (OP), another layer-2 altcoin. According to Pentoshi, OP also has no known resistance left after breaking its recent all-time high at around $3.29.
About to begin price discovery Often around discovery is a great time to buy as its likely to have continuation after some consolidation.
At time of writing, OP is worth $3.42.
Generated Image: Midjourney
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Top Analyst Flips Bullish on Ethereum Layer-2 Altcoin, Says Clear Skies Ahead for One DeFi Crypto - The Daily Hodl
Solana is up 95% in December But why are AVAX, INJ, NEAR surging even higher? – Cointelegraph
Solana (SOL) is up a whopping 95% in December, outperforming its top layer-one (L1) blockchain token rival, Ether (ETH), which rose merely 9.5% in the same period.
SOL outperformed ETH for several reasons this month. But it isn't the only L1 token to have attained attractive returns in the month. Let's take a closer look at three major tokens that are even beating Solana as the year winds down.
Avalanche (AVAX), the tenth-largest crypto by market cap, has outperformed Solana in December, rising 104.75% month-to-date (MTD) to around $44.
Interestingly, Avalanche's MTD rally follows the unlocking of 9.54 million AVAX tokens in late November, indicating that markets absorbed the additional token supply without hurting its valuation.
That suggests a strong underlying demand for AVAX, particularly against the backdrop of Ethereum's rising gas costs in December. For instance, at the beginning of the month, Avalanche's median gas cost was $0.051 per transaction compared to Ethereum's $4.66.
From a technical outlook, there exists a visible divergence between AVAX's rising prices and falling momentum.
Notably, AVAX's price has formed higher highs, and its daily relative strength index (RSI) has made lower highs throughout December, indicating a bearish divergence. In other words, the cryptocurrency's bull run could be nearing exhaustion.
As a result of this divergence, AVAX's price could drop toward the support confluence comprising of its 0.383 Fib line near $33 and 50-day exponential moving average (50-day EMA; the red wave) near $31.50 by New Year's or in January 2024.
Near Protocol (NEAR) has surged over 125% MTD to $4.20. The ascent occurred simultaneously with a 350% rally of NEKO, a memecoin project associated with the Near Protocol, which gained considerable traction in December.
Strategic partnerships, such as the one with Polygon Labs for developing zkWASM and with US-based IDS Inc., have further bolstered the Near Protocol project.
Technically, NEAR's weekly RSI stands overbought, indicating bullish exhaustion that may result in a consolidation or a correction.
So, NEAR price may correct toward its June-October 2022 support level of around $2.90 by early January 2024. A decisive close below $2.90 could have bears test the 50-week EMA (the red wave) nar $2.18 as their next downside target.
Injective Protocol (INJ) has jumped over 108% MTD to $38.30, a rally partly fueled by the broader boom in artificial intelligence (AI) tokens, given Injective, as a layer-1 blockchain, integrates AI with decentralized finance (DeFi).
The surge in the price of Injective Protocol's INJ token can also be linked to a trend among airdrop farmers. These individuals actively move between different blockchains to collect newly-issued token airdrops.
Analyst Crypto Kaduna highlighted multiple projects built on Injective Protocol, noting that these projects have confirmed plans for airdrops.
This anticipation of new airdrops has contributed to the rising interest in INJ tokens.
Like NEAR, INJ risks correction due to its excessively overbought status.
Related:Bitcoins third straight month of gains fuels altcoin comeback
Notably, the cryptocurrency's three-day RSI reading has been above 70 throughout December. At the same time, its price is treading near a mult-month ascending trendline resistance near $42, raising its possibilities of undergoing a correction or consolidation course next.
A pullback from the ascending trendline resistance could have traders eye a decline toward INJ's ascending trendline support near $18. This level, down more than 50% from current price levels, has served as resistance in November 2023 and September 2021.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Solana is up 95% in December But why are AVAX, INJ, NEAR surging even higher? - Cointelegraph
Altcoins Price Prediction for 2024 – CoinGape
The crypto market is known for its volatility and altcoins play a crucial role in this dynamic ecosystem. As we look ahead to 2024, predicting the price movements of altcoins becomes a speculative exercise based on various factors such as technological advancements, market sentiment, regulatory developments, and macroeconomic trends.
In this article, we will explore some key altcoins and offer predictions for their potential performance in 2024.
Ethereum has a very robust legacy in the crypto industry, ranking next only to Bitcoin, and boasts of a market capitalization of $275,825,443,724.
While Ethereum has faced enormous criticism from top market analysts this month, its legacy as the first and biggest smart contract network can fuel a major increment in its adoptionand ultimately price shortly.
With its thriving ecosystem, Ethereum maintains a price target of $3,500 by the end of 2024.
If Polkadot, currently trading at $7.97 successfully positions itself as a hub for cross-chain communication, analysts predict its value may climb to $8.37 next year. The plans to sunset parachain auctionson the Polkadot network could be a key driver for DOTs price in 2024.
On the weekly time frame, Polkadot is currently trending bullish with the 50-day moving average currently sloping up and below the current Polkadot price, which could act as a support the next time it interacts with it.
Solana has gained prominence for its high output and low transaction costs. Notably, Solana is back on the rise after flipping the resistance at $70 and turning it into its medium-term support. The protocols growth came despite exposure to the bankrupt exchange FTX and the accompanying selloffs.
The well-acclaimed Ethereum killer has steadily climbed in value this year, reaching a yearly high of $96.69 after plummeting to $8 following the crash of FTX.
Solana has seen 17/30 (57%) green days and 12.15% price volatility in the past 30 days and if the Solana ecosystem continues to attract developers and projects, analysts project that SOLs price could climb to $150 in 2024.
XRP, which is closely associated with Ripple Labs Inc has increased 68% in the last year and is currently trading at $0.622 as of the time of writing.
XRPs bullish resurgence started with Ripples landmark win against the US Securities and Exchange Commission (SEC) in July. Although the case is likely to be resolved in 2024, the historical victories Ripple has had against the SEC show that the coin has a bright future.
Based on past XRP price movements and BTC halving cycles, the yearly low XRP price prediction for 2024 is $ 0.423835. Meanwhile, the price of XRP is expected to reach $ 1.707555 next year if the expected market boom truly emerge
Chainlink, with a market cap of $8.76 billion, has performed remarkably well in the 2023 market rebound. It presently ranks 13th in terms of market capitalization in the crypto industry. However, LINK prices are 70% lower than their all-time high of $54.40.
The token, native to one of cryptos most sought-after Oracle protocols, is trading at $15.42 at the time of writing. The recent increase in LINK price suggests a bullish breakout of a rounding bottom pattern in the daily chart, with a target of $16.56.
As projected, if LINK price rises above $20, the released trapped momentum will enhance the altcoins value. The breakout rally, combined with the highly anticipated altcoin season of 2024, will drive LINK prices to a new all-time high of $60. However, if there is a decline in mid-2024, a retest to $20 is also possible.
Chainlink has the right fundamentals and adoption spree to record the projected $60 price target.
Avalanche has had a stunning reversal after rising to new heightswith a promising start in 2023. The coins price, currently trading at $44.97 is a major showcase of resilience seeing AVAX drop as low as $9.11 for the year
While the current scenario for AVAX shows anything is possible, a more shiny silver lining is ahead. If the market starts a bullish cycle, the AVAX coin price might rise. In this case, AVAX can swing high to $80 by the end of 2024. This would be a big comeback and a source of hope for investors.
In contrast, if the market remains dominated by sellers and bearish sentiment persists, AVAX may experience additional downward pressure. If that were to happen, the coins price might plummet to a dangerous low of $22.
These 3 Lesser-Known Altcoins May Increase in January 2024 – BeInCrypto
Bitcoin (BTC), large and lesser-known altcoins experienced substantial growth in December, with many altcoins achieving new yearly or all-time highs.
This analysis by BeInCrypto focuses on lesser-known altcoins exhibiting bullish patterns, suggesting the potential for significant gains in the coming month. The examination specifically targets coins ranked between 150th and 300th in market capitalization.
The RSR price had fallen under a descending resistance trend line since April 2021. The decrease led to a low of $0.0016 in August. The price began an upward movement afterward and broke out from the trend line in October. At the time of the breakout, the trend line had been in place for 924 days.
Traders utilize the Relative Strength Index (RSI) as a momentum indicator to assess whether a market is overbought or oversold and whether to accumulate or sell an asset.
If the RSI reading is above 50 and the trend is upward, bulls still have an advantage, but if the reading is below 50, the opposite is true.
The weekly RSI legitimizes the breakout since the indicator moved above 50 (green icon) while the price broke out.
If the altcoin continues its ascent, the price can increase by 200% to the next resistance at $0.0100.
Despite this bullish RSR price prediction, a close below the minor support at $0.0025 will invalidate the breakout. If that happens, RSR can fall by 50% to the closest support at $0.002.
Read more: Reserve Rights (RSR) Explained For Beginners
The SNT price had fallen under a descending resistance trend line since the start of 2021. The decrease led to a low of $0.018 in December.
Afterward, the altcoin began a slow upward movement and broke out from the trend line in October 2023. At the time of the breakout, the trend line had been in place for 900 days.
Similarly to RSR, the RSI legitimizes the upward movement by breaking out above 50 (green icon).
After the breakout, the altcoin reclaimed the $0.041 horizontal area, validating it as support last week. If the upward movement continues, the price can increase by 150% and reach the next resistance at $0.115.
Despite this bullish SNT price prediction, a close below the $0.041 level will invalidate the increase. Then, SNT could fall 50% to the closest support at $0.022.
Read More: 9 Best AI Crypto Trading Bots to Maximize Your Profits
COM is a BRC20 token, a narrative that enjoyed significant success this year with the Ordinals (ORDI) and SATS increases.
In December, COM made six unsuccessful attempts at breaking out from a descending resistance trend line (red icon). Since trend lines get weaker each time they are touched, an eventual breakout from the trend line is expected.
This is further supported by the COM price moving above the $3.60 horizontal area and the RSI above 50 (green icon).
If a breakout occurs, the COM price can increase by 60% to the next resistance at $6.10, close to the all-time high of $7.20.
Despite this bullish COM price prediction, a close below $3.60 will invalidate the possibility of a breakout. Then, COM can call by 20% to the closest support at $3.
Read More:What Are BRC-20 Tokens?
For BeInCryptos latest crypto market analysis,click here.
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that ourTerms and Conditions,Privacy Policy, andDisclaimershave been updated.
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These 3 Lesser-Known Altcoins May Increase in January 2024 - BeInCrypto
3 Altcoins Poised to Outperform Bitcoin (BTC) in January 2024 – BeInCrypto
These three altcoins show bullish patterns compared to Bitcoin (BTC) and have the potential to outperform it in January 2024.
Despite Bitcoin experiencing significant growth in the second half of 2023, these altcoins demonstrate even more favorable price trends. Is it possible for them to exceed the gains observed in BTC during January 2024?
The AXS price had fallen under a long-term descending resistance trend line since October 2021. The decrease led to a low of 13,400 satoshis in October 2023.
The AXS price has increased since and broke out from the resistance trend line last week. At the time of the breakout, the trend line had been in place for more than 800 days. With the RSI as a momentum indicator, traders can determine whether a market is overbought or oversold and decide whether to accumulate or sell an asset.
Bulls have an advantage if the RSI reading is above 50 and the trend is upward, but if the reading is below 50, the opposite is true. The weekly RSI supports the breakout since the indicator moved above 50 (green icon) the same week the price broke out from the trend line.
After the breakout, AXS reached the minor resistance at 24,500 satoshis and fell slightly. If it breaks out, the price can increase by 145% and reach the next resistance at 60,000 satoshis.
Despite this bullish AXS price prediction, failure to close above the 24,500 satoshi resistance area can trigger a 30% decrease to the descending resistance trend line at 16,000 satoshis.
Read more: Axie Infinity (AXS) Explained for Beginners
The BNB price has fallen under a long-term descending resistance trend line since November 2022. The decrease led to a low of 0.0051 in December.
BNB began an upward movement afterward and is now breaking out above the resistance trend line. While the altcoin reached a high of 0.007 and moved above this trend line, it has not reached a close above it yet, which will confirm the breakout.
Also, the RSI is increasing, has broken out from its resistance (green), and has moved outside of its overbought territory. However, it has not increased above 50 yet.
If the breakout continues, BNB can increase by another 25% and reach the next resistance at 0.0088.
Despite the bullish BNB price prediction, a close below the trend line will invalidate the breakout. Then, BNB can decrease by 25% to its December low of 0.0051.
Read More: How to Buy BNB and Everything You Need to Know
The final altcoin that could outperform Bitcoin is ARB. Similarly to the other two, the ARB price broke out from a descending resistance trend line last week.
The breakout preceded a bullish divergence in the weekly RSI, legitimizing the upward movement.
After breaking out, ARB reached a high of 3,350 satoshis before falling slightly. In any case, the price did close above the resistance trend line.
If the upward movement continues, ARB can increase by another 15% and reach the next resistance at 3,700 satoshis.
Despite this bullish ARB price prediction, a close below-the-trend line can lead to a 20% decrease to the closest support at 2,600 satoshis.
Read More:What is Arbitrum?
For BeInCryptos latest crypto market analysis,click here.
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that ourTerms and Conditions,Privacy Policy, andDisclaimershave been updated.
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3 Altcoins Poised to Outperform Bitcoin (BTC) in January 2024 - BeInCrypto
Crypto market outlook: key developments to consider in January week one (2024) – InvestorsObserver
2023-12-31 04:39:31 ET
Bitcoin (BTC) hovered at the $42K vicinity during this publication. Meanwhile, the significant dip in open positions suggests an upcoming volatility wave. Market participants have likely sold the potential spot exchange-traded fund approval news.
That has seen the altcoin market slowing down. Meanwhile, what should we expect from the digital assets sector in the upcoming week?
The week opens with the New Year Holiday, and Optimism (OP) and DYDX could dominate alt trends as they intend to unlock $1.23M and $100M in tokens, respectively.
The United States will announce the US Manufacturing PMI on 2 January. Analysts expect a lower number of 48.2 from the previous 49.4. Further, Reuters suggest that a notice for the spot BTC ETF might come on Tuesday or Wednesday.
Investors will check how the market reacts to the Fed Minutes, Turkey inflation, US JOLTS, and SUIs $27.95M unlock on 3 January. Meanwhile, US ADP, unemployment claims, and services PIM will come out on Thursday.
The week will close with Eurozone Inflation data, US hourly earnings, US NFP, and the United States unemployment rate.
Possible ETF notice in the coming week remains vital in setting the tone for the market early in 2024. Also, Wednesdays Federal minutes could signal a shift from what the regulator did in early 2022. Investors should watch Fridays US employment data as it will be crucial in determining the potential rate cut by the Federal Reserve.
Meanwhile, experts trust the cryptocurrency market will flourish in the upcoming year.Analyst Michael van de Poppe stated that a spot BTC exchange-traded fund approval would be a vital development for digital coins.
He sees Bitcoin flying swiftly to the $48,000 $52,000 range before recording range-bound and sideways price movements until it claims new all-time highs in 2024. A Bitcoin run to ATH will mean explosive surges in the altcoin market.
The post Crypto market outlook: key developments to consider in January week one (2024) appeared first on Invezz
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Crypto market outlook: key developments to consider in January week one (2024) - InvestorsObserver
Ripple rally to $0.66 likely with bullish developments in the altcoin – FXStreet
Ripple price sustained above the $0.59 level, on Friday, close to its $0.62 local top. On-chain indicators reveal a rising demand for XRP tokens among market participants. Rising trade volume and daily active addresses are indicative of brewing interest among traders.
The altcoin yielded 10.70% gains over the past month. The altcoin has been in a consistent uptrend for the past three days. The US Federal Reserves interest rate decision failed to sway the bullish outlook of retail traders and XRP price continued posting gains.
Also read: Ripple makes comeback to $0.60 after XRP held by retail traders notes a significant increase
Whale transaction count (>$100,000) vs XRP price
XRP trade volume, daily active addresses vs XRP price
Payment remittance firm Ripple announced that the Dubai Financial Services Authority (DFSA) has approved the digital asset XRP for use within the Dubai International Financial Centre (DIFC).
Virtual asset firms within the DIFC will now be able to incorporate XRP into their virtual asset services. XRP is the first virtual asset to be approved by the regime. Bitcoin, Ethereum, and Litecoin rank in the list of assets previously approved under the DFSAs virtual assets regime.
The legal and regulatory clarity is likely to benefit XRP. The asset will be used by institutions located in the DIFC for value exchange, boosting its utility.
XRP price is $0.5980 on Binance at the time of writing. As seen in the price chart below, there is a Fair Value Gap between $0.6682 and $0.6758. The lower level, $0.6682, is expected to act as a resistance for the altcoin as the XRP price rally continues.
The bullish developments in XRP are likely to support the assets uptrend. A successful break past $0.6682 will send XRP to the upper boundary of the FVG, at $0.6758. The move from $0.5980 (current price) to $0.6682 (FVG) marks a 12% gain from the current price.
XRP/USDT one-day price chart on Binance
On the downside, the 10-day Exponential Moving Average (EMA) at $0.5769, could act as a support.
Ripple is a payments company that specializes in cross-border remittance. The company does this by leveraging blockchain technology. RippleNet is a network used for payments transfer created by Ripple Labs Inc. and is open to financial institutions worldwide. The company also leverages the XRP token.
XRP is the native token of the decentralized blockchain XRPLedger. The token is used by Ripple Labs to facilitate transactions on the XRPLedger, helping financial institutions transfer value in a borderless manner. XRP therefore facilitates trustless and instant payments on the XRPLedger chain, helping financial firms save on the cost of transacting worldwide.
XRPLedger is based on a distributed ledger technology and the blockchain using XRP to power transactions. The ledger is different from other blockchains as it has a built-in inflammatory protocol that helps fight spam and distributed denial-of-service (DDOS) attacks. The XRPL is maintained by a peer-to-peer network known as the global XRP Ledger community.
XRP uses the interledger standard. This is a blockchain protocol that aids payments across different networks. For instance, XRPs blockchain can connect the ledgers of two or more banks. This effectively removes intermediaries and the need for centralization in the system. XRP acts as the native token of the XRPLedger blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz.
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Ripple rally to $0.66 likely with bullish developments in the altcoin - FXStreet
October Altcoin Gainers – These Five Altcoins Paved the Way – BeInCrypto
October was a bullish month for the cryptocurrency market, filled with altcoin gainers. Bitcoin (BTC) and several other cryptocurrencies reached new yearly highs.
As Halloween ushers an end to October, BeInCrypto looks at 5 altcoins that made October frighteningly profitable. The five October altcoin gainers are:
The POLYX price has increased quickly since October 13. The upward movement has been parabolic, leading to an all-time high price of $0.43 on October 30.
The increase caused a breakout from the $0.29 horizontal resistance area, which had been in place since April.
The all-time high was close to the 1.61 external Fib level of the most recent decrease. Once the price is at an all-time high, the Fib level often acts as the area for the top.
If POLYX breaks out above it, it can increase by 75% to the 2.61 external Fib level at $0.66.
Despite this bullish prediction, failure to close above the $0.44 resistance can lead to a 25% drop to the $0.29 horizontal area, which is expected to provide support.
The TRB price has increased alongside a parabolic ascending support line since the beginning of September. The upward movement led to a new yearly high of $125 yesterday.
Currently, TRB trades slightly above the 0.618 Fib retracement level of the entire previous decrease at $105. Whether the price moves above it or gets rejected can determine if the future trend is bullish or bearish.
A successful close above this area can lead to a 50% increase to the next resistance at $165.
On the other hand, a rejection and breakdown from the parabolic ascending support line will mean the upward movement is complete. In that case, a 40% drop to the closest support at $66 will be likely.
The SOL price has increased alongside an ascending support trendline since the beginning of the year. More recently, it bounced above the line in September (green icon), accelerating its rate of increase.
The next month, SOL broke out from the $28 horizontal area. This was a crucial area since it had been in place since November 2022.
Today, SOL reached a new yearly high of $37. If the price continues upwards, it can increase by another 46% and reach the next resistance at $47.
Despite this bullish SOL price prediction, failure to sustain the increase can cause a 25% drop to the $28 area, validating it as support.
The INJ price increased by 50% last week, breaking out from the $9 horizontal resistance area. The price reached a new yearly high of $14.50 today. This was the highest price since November 2021.
Currently, INJ trades inside the $13.50 horizontal resistance area. This is the final resistance before the all-time high region.
So, if INJ breaks out, it can double in price and reach the all-time high of $27.
Despite this bullish prediction, a rejection from the $13.50 horizontal resistance area can trigger a 35% drop to validate the $9 support area again.
The MINA price has increased swiftly since its $0.36 low on October 11. On October 24 alone, the price increased by 110%, leading to a high of $0.98.
However, the upward movement could not be sustained. Rather, MINA created a long upper wick (red icon) and fell below the $0.88 horizontal resistance area.
Now, MINA trades just above the $0.58 horizontal support area. Whether it bounces or breaks down can determine the future trends direction.
A bounce can lead to a 40% increase to the next resistance at $0.88. On the other hand, a breakdown can cause a 40% drop to $0.37.
For BeInCryptos latest crypto market analysis,click here.
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.
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October Altcoin Gainers - These Five Altcoins Paved the Way - BeInCrypto