The next Bitcoin halving event has sparked talk of a potential massive spike in its value, with some predictions as high as $200,000. In the wake of this major event, attention has also turned to other cryptocurrencies that may follow suit. As these so-called altcoins gain attention, curiosity is growing about which currencies will take the lead in the coming year. As experts weigh in on the altcoins poised to dominate in 2024, learn about the top contenders set to make waves in the digital currency space.
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Avalanche Price Analysis: Uptrend Potential
Avalanche is likely to rise higher, with the current price near $53 and below the 10-day simple moving average (SMA) of $54.44. The market is showing room to move higher towards the nearest resistance level at $67.85, and possibly even a second resistance level at $81.59. Investors can consider these levels as targets for the period ahead. With the 100-day moving average sitting at $41.63, an upward trend is likely in the long term. If buyers step in, we could see a strong move higher.
However, prices are likely to fall as MACD and the 10-day moving average give sell signals. It could test the nearest support level at $37.89 or even drop to the second support level at $21.67. These levels indicate that the recession may be stabilizing, which represents an important area for decision-making. In the short term, these signals suggest investors should pay close attention to any changes in price action.
Solana’s Price Resistance and Moving Averages
Solana is currently trading above $197, with nearest resistance at $238.49. If broken, we could see a second level of resistance at $274.30. This trend is supported by SMAs, with the 10-day SMA at $189.75 indicating buys and the 100-day SMA at $123.12 also indicating strength. This momentum could drive prices higher in the short term. However, MACD indicates sell and caution is advised. There is growth potential, but the market is giving mixed messages.
Solana’s long-term outlook shows strong support at $138.40. If prices fall, this could provide a springboard for future gains. For those with a long-term perspective, even a further drop to the second support level at $74.12 could be an opportunity to buy at lower prices. However, it’s important to remember that Solana is affected by broader market trends, which can have a significant impact on its trajectory.
Cardano Price at $0.63, Growth Potential
Cardano’s current price is $0.63, showing growth potential, with the nearest resistance level being $0.78. If momentum continues, we could even test the second resistance level at $0.92. This uptrend can be supported by the 10-day moving average, which is just above the current price of $0.65, indicating slight bullish sentiment in the short term. However, the long-term outlook remains cautiously optimistic, given that the 100-day moving average is just below $0.60, suggesting that the rise will be more stable and gradual.
On the downside, if Cardano fails to sustain current price levels, we could see it drop to the nearest support at $0.54. A move below this level could lead to a further decline towards the second support level at $0.44. This suggests that there are risks in the market that could affect its value if a negative trend occurs. Therefore, investors should be aware that these support levels are potential areas where prices may stabilize in the face of downward pressure, while still paying attention to overall market trends and broader economic factors that may affect prices in the longer term.
Chainlink price expected to rise
Chainlink’s price at $18 is likely to climb towards the nearest resistance at $22.63 in the short term as it is currently above the 100-day moving average at $17.54. If this momentum continues, a break through the second resistance level at $26.07 may be imminent. On the downside, if the price slides lower, we may find support near $16, which may prevent a further drop to $12.83. This balance indicates neutrality, with the potential for an upward move or retest of support.
In the longer term, Chainlink’s stability above the 10-day moving average of $18.99 could indicate an underlying strength in the market, which could help it steadily rise over time. However, the market can be difficult to predict, and a break below the $16 support could lead to a deeper correction. A closer look at price action near these important levels is critical in gauging the market’s potential for long-term growth and pullback.
in conclusion
The Bitcoin halving inspired the $200,000 dream and laid the foundation for altcoins to shine, with TRUE leading the GameFi revolution. With the cryptocurrency wave on the rise, the TRUE team launches Loyalty NTO, a golden ticket to epic growth and earnings. With a massive $3.45 million raised in funding and an army of 4 million players ready for the iGaming virtual universe, TRUE doesn’t just exist in the game; It is set to redefine it.
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Place: https://truefuture.io/true-nto/
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