News and Analytics

Top Altcoin Watchlist - Weekly Update
0

Top Altcoin Watchlist - Weekly Update

Jun 29, 2024

The beginning of 2024 has been a remarkable period for the crypto world, witnessing significant events such as Bitcoin achieving new all-time highs, Ethereum gaining attention with ETF advancements, and altcoins experiencing unexpected fluctuations in value.

The past week in the cryptocurrency market was marked by a mix of gains and losses. Bitcoin's price fluctuated between $60K and $62K, Ethereum faced uncertainties, new meme coins stirred interest, and emerging sectors like AI tokens and RWA tokens started to gain traction.

Amidst this volatile market environment, it becomes crucial to identify projects that can withstand market corrections and potentially make profitable rebounds. Here is a curated watchlist for the upcoming week:

1. Kaspa (KAS): $0.25 Target

Kaspa, a proof-of-work Blockchain, has shown a solid performance, with its value increasing from $0.149 to $0.18, indicating a growth of 22%. The asset has surpassed all long-term moving averages, projecting a positive sentiment moving forward.

Technical indicators like the Awesome Oscillator hint at a possible short-term correction near the $0.183 resistance level, with a promising outlook for the next week, expecting to reach above $0.25.

Furthermore, the Elder-Ray Index showcases a positive trend, suggesting a bullish movement in the near future, indicating strength among both buyers and sellers.

2. Brett (BRETT): Target $1.7 to $1.9

Brett, the leading meme coin on the Base network, has gained popularity among traders since its inception. In the week of 23-29 June, Brett surged from a low of $0.1278 to the current price of $0.16, marking a 26% increase. Despite a minor correction post a 36% surge to $0.17, Brett is now consolidating.

While the price metrics are positive towards overcoming the $0.17 barrier, Brett has yet to surpass $0.2, with its all-time high at $0.192. The coin's team is actively making strategic moves like listings on SuperEx and the upcoming SeamlessFi launch, which could influence buyer interest.

The BRETT/USDT chart indicates a consolidation phase, with the price above all moving averages, albeit with bearish technicals. The MACD signals neutrality, positioned above the histogram but below the trend line.

Moreover, the Alligator indicator reflects a period of stability, with trend lines converging, suggesting a more definitive price movement in the upcoming week.

3. Akash Network (AKT): Target $3.8 to $4.2

Akash Network garnered investor confidence during the past week, experiencing a substantial spike from $2.71 to $3.64, a remarkable 34% increase within four days. The price has demonstrated consistency above $3.60, showing reduced profit-booking and increased buyer interest.

Currently, AKT price is defending the SMA & EMA 30 levels, with anticipation of a bullish rally upon crossing the EMA 200 mark. However, a downside scenario could drag the price to $2.75, and further down towards $2 if sellers dominate.

Technical indicators like RSI at 44 indicate a slowdown in oversold conditions, while the MACD presents a favorable golden cross signal, signifying a strengthening trend for AKT.

Investors are advised to closely monitor these cryptocurrencies in the upcoming week, considering the potential price movements and underlying fundamentals.

Comments

Latest analytics

RLUSD - new stablecoin...

RLUSD - new stablecoin from Ripple Labs

Revolutionizing...

Revolutionizing Decentralized Finance with DefiLlama

Show more

Latest Dapp Articles

Show more

You may also like