Altcoins
Top 2 Altcoins to Buy in This Week’s Cryptocurrency Trading
After resuming the uptrend from the support at $66,000, Bitcoin price moved closer to the crucial $70,000 mark. US CPI data reinforced the upward trend, which remained unchanged from the previous month. Although BTC corrected below $68,000 on Thursday, the path of least resistance is still up. Meanwhile, altcoins to buy like GameStop (GME) and Terra Classic (LUNC) have shown immense potential to continue the rally.
GME coin price hovered around $0.0191 during European business hours on Wednesday, an increase of 12% in 24 hours and 107% in 7 days, according to CoinGecko data.
GameStop Price Chart
Gamestop price has been trading above the 50-day and 200-day simple moving averages, but has come dangerously close. After the initial price surge that saw the meme coin hit an all-time high of $0.032, the price of GME collapsed to $0.014, a drop of over 50% in less than 24 hours.
Nonetheless, the asset started making higher lows and higher highs, typical of a symmetrical triangle formation. GME price action is heading towards the end of the triangle, and it will soon be decision time. These types of market structures have a 50/50 chance of breaking up or down. However, when you add other factors into the mix, the odds may tilt in favor of one side over the other.
One factor is that GME price is still in an uptrend despite the recent significant crash, since the price action has not fallen below the previous low. An upside breakout could see the coin surpass the previous all-time high and reach $0.034. Key resistance exists around $0.023. On the other hand, GME price could find support around the $0.015 area.
2. Terra Classic (LUNC)
Terra Luna Classic Price Prediction Chart | Commercial view
Terra Classic bulls have an uphill battle to defend the most critical support at $0.0001. So far, the price has rebounded from this level on the daily chart, but with the Relative Strength Index (ROI) falling to 38, the descending leg could extend further.
The RSI shows a growing bearish divergence likely to make things difficult for the bulls. A continued decline below 30 to the oversold level would reveal two things: stronger bearish grip and a weakening of the downtrend.
Therefore, traders would do well to pay attention to price behavior around $0.0001, as highlighted by the lower ascending trendline. An immediate rebound will support Terra Classic Price An incoming uptrend while closing the day below the same level could cause some nervousness among investors, paving the way for a price decline to $0.00009, the next support level.
A potential rebound from the lower trendline would mark a trend reversal. Nevertheless, LUNCH may remain under the influence of the bears until it breaks above the upper broken trendline and, importantly, the resistance in red at $0.00012. From there, the move to $0.0002 could happen quickly, supported by FOMO and a generally bullish market.
Conclusion
Cryptocurrency trading requires patience, but also the ability to adapt to an ever-changing landscape. THE Bitcoin Price the drop to $66,000 on Tuesday was immediately followed by a rise above $69,000, implying that trends are changing quickly. If the uptrend continues, investors may find it convenient to purchase key Bitcoin alternatives such as LUNC and GME to reduce risks and maximize gains.
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