Altcoins

Buy These Altcoins Now Before Solana ETF Approval Triggers Massive Gains

Published

7 months ago

29 June, 2024

Buy These Altcoins Now Before Solana ETF Approval Triggers Massive Gains

A bull run and altcoin season is on the horizon, poised to ignite any day now. The market remains calm, paving the way for explosive growth in the coming weeks. Many altcoins are still undervalued, presenting a golden opportunity for savvy investors. With the potential approval of a Solana ETF imminent, the stage is set for big gains. This article will reveal the top altcoins poised to rise as the market heats up. Plot ? Stay tuned to find out which coins to consider before they skyrocket.

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Aptos (APT) remains stable with room for improvement

Aptos (APT) is currently trading between $6.07 and $7.66, suggesting a consolidation phase. The bulls appear stable as the current price is holding above the 10-day and 100-day moving averages of $7.02 and $6.89, respectively. With an RSI of 52.08, there is potential for growth. If it breaks the nearest resistance at $8.58, it could climb another 17% to the second resistance level at $10.16. Conversely, if the price declines, strong support at $5.41 and $3.83 could cushion the fall. Recent price changes suggest a balanced fight between the bulls and bears, but a break beyond resistance could trigger a new rally.

Optimism (OP) shows potential for upside growth amid current price challenges

Optimism (OP) is currently trading in a range of $1.53 to $1.99, signaling mixed sentiment in the market. Bulls are facing challenges near the $2.28 resistance level, while support remains firm at $1.35. Despite a recent 30% decline over the past month, the coin’s growth potential remains strong. If Optimism manages to break above $2.28, it could rally to $2.75, representing a possible gain of over 40%. The Relative Strength Index at 47.31 hints at balanced buying and selling pressures, but with the right momentum, a bullish rally could be on the horizon. Keep an eye on these key levels for potential upside action.

Solana braces for potential breakout as Bulls aim for higher goals

Solana (SOL) is looking promising as it remains rangebound between $120.66 and $144.15. The coin has seen a weekly rally of over 8%, indicating that bulls are building strength for a breakout. If SOL can break above the key resistance level at $159.66, it could further climb to the next target at $183.15, a potential gain of around 30% from current levels. With the 10-day simple moving average around $147, breaking above this point could be a good sign for bulls. Despite the recent monthly decline, the six-month gain of almost 42% shows strong growth potential. Keep an eye on the support at $112.68 if the bears return.

Avalanche (AVAX) Takes Out Bears, Eyes Major Rally

Avalanche (AVAX) is trading between $22.69 and $28.89, showing signs that the bulls could dominate the bears. With its price almost touching the 10-day moving average of $27.99, AVAX is aiming to break above the resistance level at $32.71. If successful, it could further climb to the $38.91 mark. This potential upside translates into gains of over thirty-five percent from current levels. With an RSI of 66.38, momentum is on its side, suggesting more room for growth. Recent price action indicates resilience, showing a small increase of almost two percent over the past week despite a tough month. AVAX could be heading for a strong uptrend as the bulls take charge.

Conclusion

APT, OP, SOL, and AVAX show potential, but their short-term gains could be modest. The standout contender here is BLASTUP. This project shines with its unique concept and integration within the Blast ecosystem. It should make the most of this bullish phase, making it a top pick.

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Please note that The Crypto Basic does not endorse or support any content or products on this page. We strongly advise readers to conduct their own research before acting on any information presented here and to take full responsibility for their decisions. This article should not be considered investment advice.

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. The Crypto Basic is not responsible for any financial losses.

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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.