22.8 C
Manchester
July 18, 2024
BTC Hunts
Image default
Bitcoin

Top Altcoins to Accumulate While Crypto Markets Consolidate Ahead of Bitcoin Halving

The post Top Altcoins to Accumulate While Crypto Markets Consolidate Ahead of Bitcoin Halving appeared first on Coinpedia Fintech News

The crypto markets are trying hard to recover after facing an acute pullback in the past few days. Bitcoin’s price had fallen below $65,000, bringing the entire cryptocurrency market to its knees. Among them, there are some altcoins which are displaying acute strength and may go along with a minor change in the trade dynamics within the space. 

Fantom (FTM) 

  • The Fantom price has been displaying acute strength since the previous trading month and after undergoing a huge upswing, it is facing a minor pullback
  • However, after withstanding excessive pressure, the bulls are trying hard to validate a bullish rebound as the price is about to hit the crucial support at the 50-day MA at around $0.76
  • Besides, the RSI is also trying to validate a bullish reversal but it still appears to be another lower high. Hence, a rise above the average levels may certify a breakout from the bearish claws
  • Meanwhile, the volume has dropped to rock-bottom levels, suggesting a breakout could be imminent as a result of extreme compression 
  • With this, the price is believed to test the lower support at the 50-day SMA, revive a strong reversal and soar high to reach the upper resistance of the expanding channel at $1.3, shortly.

Aptos (APT) 

  • The Aptos price in the long term was undergoing a parabolic recovery but tried to reach the neckline ahead of time
  • As a result, the bears got triggered and are trying their level best to drag the levels lower towards the support of the curve
  • However, the support at $13.1 offers a significant base and hence a rebound could materialize, which may lead the rally beyond $14.7
  • If the bulls fail, then a bearish pullback could lead the levels to drop close to $11, which may be extended below $10
  • Therefore, the weekly close may be extremely crucial for the APT price, as the possibility of a rebound may arise if the levels close above $14, paving the way for a healthy upswing towards $18 

Myro (MYRO) 

  • Myro has been displaying enough potential since the start of March and despite a pullback, the recovery phase has been quick and strong enough
  • The levels at 0.5 FIB have triggered a healthy rebound previously and hence a similar breakout is expected in th next few hours are the bulls are trying out a similar trade
  • Besides, the stochastic RSI is close to undergoing a bullish crossover which substantiates the bullish claim
  • Therefore, with a bullish close, the MYRO price is believed to trigger a healthy upswing and reach 0.78 FIB levels at $0.343 in a while

Related posts

Polygon (MATIC) Displays a Bullish Continuation-Is it Heading for a Breakout Beyond $1.3?

David Bradley

XRP Price Preparing to Plunge; Here Are the Levels to Watch Closely

David Bradley

Apart from Solana, This Popular Altcoin in the Top 10 is Heating Up: When Can a Breakout Be Expected?

David Bradley