Altcoins

These Altcoins are expected to outperform the crypto market in May!

Published

9 months ago

8 May, 2024

The cryptocurrency sector managed to register a bullish reversal in its chart as major altcoins saw significant gains in their respective portfolios over the past seven days. In addition, the market leader, BTC Pricereclaimed the $65,000 mark, highlighting strong bullish sentiments.

With investors’ growing interest in mid- and small-cap altcoins to maximize profits, the crypto market is poised to see significant price action in May. In this article, we have covered 4 altcoins that have the potential to outperform major cryptocurrencies this month.

Ethena (ENA):

THE Ethena Price posted significant price action adding 11.89% to its portfolio in the last 24 hours and a 24-hour trading volume of $331.92 million. Additionally, the price broke through its resistance level of $0.90, highlighting the positive outlook for the altcoin in the times to come.

TradingView: ENA/USDT

Additionally, the altcoin has added 16.73% over the past seven days and its year-to-date return (YTD) stands at 34.13% in valuation. With the increasing bullish influence, the ENA coin prices is poised to hit a new ATH over the next few months.

The technical indicator, MACD, is showing a steady rise in the green histogram with its averages showing bullish price action. Additionally, the simple moving average (SMA) supports ENA price, indicating a strong positive influence on the altcoin in the crypto market.

If the market sustains the price above the $0.90 support level, the bulls will prepare to test its upper resistance level of $1.325 this month. However, a bearish trend reversal could pull Ethena price towards its crucial support level of $0.70 in the coming times.

AIOZ Network (AIOZ):

The AIOZ network is a DePin for Web3, which allows faster, more secure decentralization. It has attracted considerable attention from the crypto industry following the artificial intelligence (AI) hype.

TradingView: AIOZ/USDT

AIOZ price increased by 12.04% over the past day and a trading volume of just over $10 million. Additionally, it has gained 24.63% in the last seven days and has added 448.56% year-to-date.

The Relative Strength Index (RSI) managed to break above the midpoint by showing a significant rise on its chart over the past week. However, the averages are moving closer to the neutral point, highlighting the uncertainty over the future price movement of this altcoin.

If the market continues to trade under bullish influence, AIOZ price will prepare to test its upper resistance level of $1.029. Conversely, if the bears dominate the bulls, the price will fall towards its support level of $0.684 in the coming week.

Hedera (HBAR):

After trading in bearish sentiment for a brief period, the Hedera Price posted a strong bullish reversal adding around 10% over the past day. Additionally, this altcoin has added 13.59% over the past 30 days and has a year-to-date gain of 39.87%, suggesting bullish power in the crypto space.

TradingView: HBAR/USDT

The Moving Average Convergence Divergence (MACD) displays a consistent green histogram in the 1D timeframe, highlighting increased buy-on-sell pressure in the crypto space. Additionally, the averages show a bullish rise suggesting a positive outlook for the altcoin this week.

If the market holds the HBAR Price above the $0.120 support level, the bulls will regain momentum and prepare to test its upper resistance level of $0.160 in the coming weeks. Negatively, a downtrend reversal could pull the price towards its low of $0.10.

Ondo (ONDO):

After its launch on January 18 at a price of $0.08355, this year ONDO price attracted considerable attention in the market, which allowed the Ondo crypto to add around 700% in a few hours.

TradingView: ONDO/USDT

Positively, the altcoin added 8.19% over the past day and 13.04% over the past seven days. Moreover, its return stood at 941.94% since its inception at the time of writing this article.

The MACD is showing strong bullish price action, with its averages successfully recording an uptrend in its chart. On the other hand, the SMA supports the price chart, which suggests that ONDO price will continue to gain value in the coming times.

If the bulls continue to gain momentum, the Ondo token will prepare to test its upper resistance level of $1 by next weekend. On the other hand, if the bears take control of the market, the price will lose momentum and test its crucial support level of $0.736 this month.

Also discover: Top Altcoins with High Chances of Relief Rally Next Week

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

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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.