Bitcoin's impending halving hints at a possible major uptick in the coin’s value. Some experts even forecast a surge to a staggering $200,000. Amidst such optimism, the question on everyone's mind is which other cryptocurrencies might follow suit and see a significant rise. Analysts provide insights on the potential candidates poised for a 500% growth in the coming quarter. Discover which cryptos could be on the brink of a breakout.
TRUE Token: Harness the Power of Crypto in iGaming for Unmatched Gains
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Polygon Price Analysis: Support Levels & Indicators
Polygon's current price, hovering near $0.97, shows it's sitting below the 10-day Simple Moving Average (SMA) of $1, hinting at a dip in the short term. However, the coin has support at $0.85 and more at $0.69, suggesting the presence of levels where the price could stabilize and even bounce back. With the MACD indicating 'sell', it points to a possibly bearish period ahead, but the contrasting 'buy' signal from the 100-day SMA at $0.94 suggests underlying strength.
Looking towards the higher price levels, Polygon faces its first hurdle at $1.23 with another challenge set at $1.45. Breaking past these resistances could signal a stronger upward momentum in the wake of positive market sentiments. Long-term prospects depend on how Polygon weathers short-term volatility and if it can capitalize on bullish trends to maintain a price trajectory above key averages. The RSI and Stochastic’s neutrality indicate no clear trend, so it's a game of watching for either a breakout above resistance or a drop towards support.
Avalanche Price Analysis: Potential Upward Swing
Avalanche hovers around $53, not far from the 10-day SMA of $54.44, a sign that it could swing upward with ease. Should momentum gather and it breaks past $67.85, eyeing the second resistance at $81.59 is practical. Emboldened by solid foundations, AVAX could captivate interest, pushing its valuation towards this level, hinting at a progressive trend with a strong foothold above $50.
On the flip side, sensing the gravity below, if Avalanche were to slide, it would find a cushion at $37.89. A further dip could test the resolve of holders at $21.67. These figures sketch a floor that, while daunting, also presents accumulation chances for those who believe in AVAX's resilient core and long-term potential.
Chainlink Price Analysis: Potential Growth Towards $22.63 and Beyond
Chainlink's current position at above $18 holds potential for growth as it eyes the nearest resistance level at $22.63. A sustained push beyond this point suggests a path towards the second resistance level at $26.07. Observing the 10-day SMA at $18.99, a consistent trade above this average may usher in buying pressure that supports an upward trajectory. However, vigilance is advised since falling below the $18.99 SMA could signal a short-term pullback.
Looking at the lower spectrum, should Chainlink retreat, the nearest support level stands at $16.00, serving as a potential cushion to downward movements. Should this level give way, further support lies a distance away at $12.83, which might attract buying interest at lower prices. With the 100-day SMA seen at $17.54, it offers near-term stability; dipping below it may alert cautious investors while a strong hold above could hint at longer-term resilience.
Aptos Price Analysis: Growth Potential & Risks
Aptos is currently priced at roughly $17.4, with a near-term resistance at $20.69, suggesting potential room for growth if positive momentum continues. The second resistance at $24.31 could serve as a target for bulls in the market, reflecting investor confidence. However, with the nearest support at $12.12 and further down at $7.16, there's a risk of downside if the market sentiment shifts. The 10-day and 100-day SMAs at $17.14 and $11.09, respectively, offer a mixed view, which indicates that while there's short-term stability, long-term prospects remain uncertain, requiring careful monitoring of market trends.
In the longer term, Aptos could witness significant price movements. The present stability around the 10-day SMA aligns closely with the current price, hinting at a potential equilibrium. Yet, the 100-day SMA, considerably lower than the current price, may point to a more cautious outlook for the longer-term trajectory. It's relevant for investors to remain aware of both the support levels, which suggest points where buying might increase, and the resistance levels, which can indicate where selling pressure could intensify, shaping the paths Aptos might take in varied market situations.
Conclusion
As Bitcoin halving approaches, speculated to cause the crypto summer to arrive sooner than expected, jump on the TRUE token wave now! With the GameFi world buzzing, TRUE's NFT Token Offering (NTO) unlocks unmatched gains. Forget small-cap limits; TRUE is set to explode with its leap into iGaming's future. Grab your NFTs, score exclusive perks, and get ready for the TRUE World metaverse to skyrocket your crypto portfolio.
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Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
