Altcoins
Hidden Altcoins That Can Generate Gains in July
The crypto market is full of many digital assets, so it’s no surprise that many promising altcoins remain under the radar.
BeInCrypto highlights three underappreciated assets that stand out in their respective categories.
MANTRA (OM) – the oppressed of RWA
MANTRA is a layer 1 Security Real World Asset (RWA) Blockchain. Among its many other features, the most notable is its ability to provide a permissionless network for permissioned applications.
During the first two weeks of June, the altcoin saw a remarkable growth of 55%, reaching just under $1.04. However, it failed to break through this level and subsequently experienced a massive drop, wiping out all the gains made.
Despite this setback, the price of OM maintained a crucial support level at $0.64, stable for three and a half months. This level of support offers the OM a chance to rebound, especially since the Relative Strength Index (ROI) is approaching bullish territory.
Learn more: How to Invest in Real World Crypto Assets (RWA)?
OM price analysis. Source : TradingView
However, if this support were to disappear, MANTRA investors could suffer substantial losses. The price of OM could fall below $0.50, wiping out half of the profits recorded at the end of March.
Wemix (WEMIX) — Blockchain-based gaming platform
Although Wemix price hasn’t seen an impressive run over the past month, gaining just 7%, it presents a bullish opportunity. In the past week alone, the altcoin has increased by over 35% to trade at $1.38.
WEMIX broke crucial resistance at $1.38, a level that has been tested as support in the past. Turning this resistance into support will strengthen Wemix’s rally, potentially sending it towards $2.00 and pushing the altcoin towards consolidation.
Learn more: WEMIX3.0 Explained: A Guide to the Borderless Web3 Ecosystem
On the other hand, if investors decide to sell their WEMIX to make a profit on their holdings, the price could take a hit. The most likely outcome will be a drop to $0.98, invalidating the bullish thesis and erasing all gains recorded in June.
Raydium (RAY) – a ray of liquidity
Raydium price has performed surprisingly well despite largely negative signals from the market. Having hovered between $1.82 and $1.45 for the past three and a half months, the altcoin is now eyeing a breakout.
The Moving Average Convergence and Divergence (MACD) indicator has highlighted a bullish crossover over the past three days. The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. Analyzing the convergence and divergence of these moving averages helps identify potential buy and sell signals.
Based on this, RAY is considering a possible exit from the consolidation zone. Upward momentum would push the altcoin to $1.99, which would also help break through this barrier.
Learn more: What is Raydium (RAY)
But if the breakout fails and Raydium price remains consolidated, the sideways momentum will continue, which may invalidate the bullish thesis.
Disclaimer
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