During the time this piece was written, OAX, AKRO, and FIRO Coin experienced significant surges on the Binance exchange. These three cryptocurrencies saw increases of 72%, 29%, and 24% respectively, despite no significant movement in altcoin BTC prices. While some investors are away on vacation leading to reduced trading volumes, a group of traders is capitalizing on these market movements. What specific price points are these traders focusing on?
Observation of OAX Coin
After a year since being listed on Binance, the price of OAX Coin is approaching an all-time high (ATH) once again. Despite current sales above $0.35, the price is well above the critical breakout level of $0.25. Bulls are aiming to push past the record high of $0.549, but a failure could result in a return to the breakout area. Potential drops to $0.219 and $0.182 are risks investors should consider due to a 200% increase in the coin's value over 14 days.
Examination of AKRO Coin
Similar to OAX, the price of AKRO Coin has rebounded from recent lows and is moving towards a strong peak. With a 121% increase, a close below $0.00930 may hint at a rally stall. Signs of intense profit-taking are evident from long upper wicks. A potential drop back to $0.00782 is possible, while surpassing $0.02077 could lead to a target of around $0.04.
FIRO Coin Analysis
Following the BTC drop on March 20, FIRO Coin has begun recovering, showing a 70% gain for the day. Absence of long upper wicks suggests a possible continuation of the rally. A close above $2.75 could see the coin aiming for $3.5 and potentially $4.35 for a higher peak. Caution is advised for investors dealing with speculative altcoins known for rapid fluctuations.
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