Altcoins

AI Altcoins Are The Best Performers: Which Ones To Buy Or Sell In July?

Published

7 months ago

1 July, 2024

As we enter July, the cryptocurrency landscape is experiencing a significant shift. After a recent stock market crash, Bitcoin Price climbed to $63,000, and the broader AI token sector became a notable player. With the crypto-ai coins collectively increasing in market capitalization from 7.5% to around $30 billion, the focus has shifted to assessing which top performers – NEAR Protocol (NEAR), Render Token (RNDR), and Bittensor (TAO) – deserve attention particular for the purchase or sale.

1. NEAR Protocol (NEAR)

The NEAR protocol has seen a strong rebound, priced at $5.34, showing a 9.25% increase in the last day and a 3.03% growth in the last week. This layer-one blockchain is praised for its ability to quickly handle large amounts of transactions and its user-friendly development environment.

It solves transaction speed and throughput issues commonly found in other blockchains.

Technical Analysis Overview:

Exponential moving averages (EMAs) present a mixed outlook. Short-term indicators suggest a buy signal, while longer-term EMAs indicate a bearish trend. EMA closely aligns with current price, hinting at a potential resistance point.

The MACD level suggests potential upward momentum for the AI altcoin, which is a positive sign.

RSI at 43.15, the RSI is in a neutral zone, reflecting the balanced market sentiment.

Recommendation:

Given the mixed signals, it’s best to approach NEAR with caution. If you hold NEAR, it might be a good idea to continue to monitor price action closely. For new investors, it might be prudent to wait for a clearer uptrend or confirmation of a breakout above resistance levels.

Overall, NEAR has a neutral to cautiously optimistic outlook for July.

2. Render Token (RNDR)

Render Token has been one of the best performing altcoins among AI altcoins, trading at $7.85 with a 10.62% increase in the last 24 hours and a robust 13.61% gain. over the past week. Render is designed to connect artists to GPU computing power providers, leveraging a decentralized network for GPU rendering.

Technical Analysis Overview:

Short-term EMAs suggest a buy, while longer-term EMAs signal a sell. Despite this, the 200-day EMA indicates a buy, hinting at strong long-term support. MACD the level aligns with a buy signal, indicating potential upward momentum.

At 47.19, the RSI is approaching oversold conditions, suggesting that RNDR may be undervalued.

Recommendation:

With strong short-term buy signals and overall bullish momentum, RNDR is a promising candidate for July. Investors may consider buying or holding RNDR, especially if the price shows further positive trends. Monitoring a break above resistance levels could enhance gains.

3. Bittensor (TAO):

Bittensor The current stock price is $278.91, up 10.57% in the past day and 4.68% in the past week. TAO operates a distributed machine learning platform that compensates participants based on the quality of the information they provide.

Technical Analysis Overview:

The EMAs are mainly indicating a sell signal. The short-term EMA is slightly above the current price, suggesting short-term resistance. The MACD level is providing a buy signal, which could be indicative of a potential bullish move. At 39.29, the RSI suggests that TAO is approaching oversold territory, indicating possible undervaluation.

Recommendation:

TAO presents a mixed technical outlook. Sell signals from EMAs and proximity to key support levels suggest caution. Investors who currently hold TAO may want to consider holding it if they believe in the protocol’s long-term value.

For new investors, it may be advisable to wait for confirmation of a bullish reversal or a stronger signal.

Conclusion

As the month of July unfolds, the AI altcoin sector demonstrates strong recovery and strong performance. NEAR Protocol, Render Token, and Bittensor each present unique opportunities and risks. NEAR shows a balanced outlook with mixed signals, RNDR stands out with upside potential and TAO offers a cautious approach with mixed signals. Investors should consider this information and closely monitor market trends to make informed decisions about buying, selling, or holding these top-performing AI altcoins.

Fuente

Altcoins

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Published

6 months ago

29 July, 2024

CoinFlix Staff

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Popular crypto analyst Michael van de Poppe has highlighted his altcoin portfolio approach in light of the new Ethereum ETF. In a recent Youtube videoThe analyst explained the measures he would take for this major market event.

The Ethereum ETF was listed on the stock exchange and it took time to get approval and so far there has been no significant change in price. The analyst pointed out that the long-term effect could be quite significant, comparing it to the situation of the Bitcoin ETF where the initial decline was followed by large inflows.

According to Van de Poppe, the Ethereum ETF’s trading volume on the first day of trading was about 25% of the volume Bitcoin ETF He noted that the first day of trading was marked by low inflation, and said there was a net inflow of $150 million to $160 million, which reduced the available supply.

Altcoins are poised for growth

The analyst said that as Ethereum adoption increases in the future, the supply of Ethereum will decrease, which is a deflationary model. Ethereum is up about 15% since the ETF approval, the broader market reaction has yet to happen as several sell-offs have taken place, including the Grayscale Trust.

Van de Poppe also mentioned other important market events, including the end of Mount Gox The process of repaying creditors initially caused tensions in the markets, but had little effect subsequently. It also highlighted the role of macroeconomic factors, which can lead to Fed rate cuts, which can affect markets.

In this regard, looking at van de Poppe’s strategy, he is still keen to trade within the altcoins of the Ethereum ecosystem. He stated that there is a possibility of short-term price fluctuations that may discourage many people, but the long-term still looks good due to the improvement and adaptation that has been made to Ethereum and its environment.

According to the analyst, substantial inflows could propel Ethereum towards new historic highs with estimates ranging from $5,000 to $7,000. Despite the current market fluctuations, he is confident that macroeconomic changes and greater liquidity will be favorable for altcoins.

He explained that his broad approach to altcoins, especially those associated with Ethereum, will be beneficial because the market will react differently to these events. The basis for his optimism comes from the fact that he believes that Ethereum and all associated projects are still extremely undervalued and have the potential to skyrocket as sentiment changes.

Looking ahead and market adjustments regarding the Ethereum ETF and other macroeconomic factors, the analyst remains bullish on altcoins. He suggested investors stay informed and believe that in the ever-changing world of crypto, they will eventually be rewarded.

Fuente

Altcoins

Altcoins Are Severely Undervalued, Awaiting Ethereum Move | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

IntoTheBlock Releases Report on Institutional DeFi Trilemma

Disclaimer

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Fuente

Altcoins

Altcoins Correct Amid ETH Decline, Grayscale Outflows | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

Disclaimer

Fuente

Altcoins

Epic Altcoin Rally Expected for August and September

Published

6 months ago

28 July, 2024

CoinFlix Staff

Crypto analyst predicts massive altcoin rally similar to Q1 2024, urging patience and accumulation.
Bitcoin’s potential as a reserve asset and its technical patterns suggest that it will drive the rise of the cryptocurrency market.

Captain Faibik, a renowned crypto analyst, has created excitement in the cryptocurrency sector with his latest prediction. He indicated that we are on the cusp of a massive altcoin rally, similar to the one we saw in Q1 2024.

We are on the verge of a massive Altcoin rally, similar to Q1 2024📈

Keep accumulating and hold with patience. (Patience will be rewarded)

The majority of #Altcoins have already hit rock bottom and are about to escape.

In my opinion, August-September is going to be epic for Altcoins.🚀🚀#Crypto pic.twitter.com/cMdHagiaYc

— Captain Faibik (@CryptoFaibik) July 24, 2024

Accumulating and Holding Altcoins: The Path to Potential Profits

He stressed the need to accumulate altcoins and hold them patiently, as it will eventually pay off. According to him, the majority of altcoins have already bottomed out and are about to break it. He believes August and September will be epic months for altcoins.

In a chart posted by Captain Faibik, the overall crypto market cap, excluding Bitcoin and Ether, known as TOTAL3, is approaching the upper boundary of a descending channel pattern.

This context suggests a potential breakout and a significant rally towards the $1 trillion mark. Technically, the decline since mid-March is interpreted as a corrective trend for the value of TOTAL3, signaling a preparation to enter a rally structure.

Bitcoin’s influence and legislative developments suggest good prospects for the future

Furthermore, based on sentiment and technical patterns, Bitcoin, the world’s leading cryptocurrency, appears poised to lead the charge in the cryptocurrency market. Bitcoin’s performance often sets the tone for the market as a whole, and a strong move in BTC could trigger a significant rally in altcoins.

Previously, as we have already said reportedSenator Cynthia Lummis said she plans to introduce a bill at the upcoming Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a reserve asset.

If this law passes, the US will treat BTC as a long-term investment rather than selling huge amounts infrequently, which could disrupt the market.

In addition, asset management firm VanEck has proposed a bold scenario in which Bitcoin Price Could Reach $2.9 Million Per BTC By 2050based on its fundamental outlook. Matthew Sigel, head of digital assets at VanEck, and senior investment analyst Patrick Bush noted that their estimate is based on Bitcoin’s adoption as a global medium of exchange and reserve asset.

As Bitcoin price increases, altcoins are expected to gain popularity, indicating the start of a bullish rally shortly after the BTC halving event.

Meanwhile, at the time of writing, the price of BTC was hovering around $67,007.99up 4.67% over the past 24 hours following a short-term correction.