With Bitcoin at $100K, Analysts Predict a Potential Correction and Altcoin Boom—5 Coins to Watch!
Bitcoin’s surge to the $100,000 mark has transformed the crypto landscape. Analysts suggest that while this peak may lead to a market correction for Bitcoin, it opens doors for altcoins poised for significant gains. Investors are shifting their focus to alternative digital assets that could offer substantial returns in this evolving environment.
Among these, XYZVerse (XYZ) stands out, uniting sports fans in a memecoin that blends athletic enthusiasm with crypto trends, aiming for exponential growth in the altcoin arena.
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NEAR Protocol (NEAR)
NEAR Protocol (NEAR) has seen significant price movement recently. Over the past month, its price surged by an impressive 119.38%. In the last week alone, it climbed another 16.24%. This upward trend shows growing interest in the coin.
Currently, NEAR trades within the $6.17 to $7.46 range. It is approaching its nearest resistance level at $8.01. If it breaks through this point, the next target could be $9.30. However, if the price falls, it might find support at $5.42, with a secondary support at $4.12.
Technical indicators suggest a potential continuation of the upward trend. The Relative Strength Index is at 64.50, indicating momentum but not yet overbought. The MACD level is positive at 0.1374, supporting bullish sentiment. However, the Stochastic at 88.77 suggests caution as it enters overbought territory. Investors might see potential for growth, but should watch for signs of resistance near $8.01.
Shiba Inu (SHIB)
Shiba Inu (SHIB) has seen significant movement recently. Over the past week, its price increased by 22.17%. In the past month, it surged by 86.48%. However, over six months, the price change is 32.80%. The current price range is between $0.00002509 and $0.00003493.
The Relative Strength Index is at 52.62, which is close to neutral territory. The Stochastic indicator stands at 23.53, suggesting the coin might be oversold. The MACD level is positive at 0.0000002951, hinting at bullish momentum. The 10-day Simple Moving Average is $0.00003166, slightly above the 100-day SMA of $0.00003011, indicating a short-term upward trend.
If SHIB continues its upward trend, it may test the nearest resistance level at $0.00003897. Breaking this could lead to the second resistance at $0.00004881, which would be an increase of about 40% from the current upper price range. On the downside, if the price falls, it might find support at $0.00001929. Dropping to the second support at $0.000009456 would represent a significant decrease.
Kaspa (KAS)
Kaspa (KAS) has been on an interesting journey lately. Over the past week, its price has increased by 5.78%, showing modest growth in the short term. Looking at the monthly picture, KAS has surged by an impressive 56.58%, indicating strong upward momentum. However, when extending the timeline to six months, the price change is relatively flat, with a slight decrease of 0.47%. This suggests that recent gains may be recovering from previous declines.
The current price range for KAS is between $0.15 and $0.18, aligning closely with both the 10-day and 100-day simple moving averages of $0.16. The Relative Strength Index (RSI) stands at 57.82, which is in the neutral zone but leaning towards bullishness. The Stochastic indicator is at a high 86.63, suggesting that the asset might be nearing overbought conditions. The MACD level of 0.0004472973 indicates subtle bullish momentum.
Considering these technical indicators, KAS may continue its upward trend in the near term. The nearest resistance level is at $0.19; breaking through this could pave the way toward the second resistance at $0.22, representing a potential increase of around 22%. On the other hand, if the price faces downward pressure, the nearest support level is at $0.13, with a drop to the second support at $0.10 equating to a decrease of about 33%. Traders will be watching these levels closely as they could signal significant price movements.
Avalanche (AVAX)
Over the past month, Avalanche (AVAX) has seen significant growth. The price jumped by 135.44%, moving between $39.80 and $49.22. In the past week, it surged another 22.00%. This strong momentum suggests increased interest in AVAX.
Over the last six months, AVAX’s price increased by 59.66%, indicating steady long-term growth. The RSI is at 57.29, below the overbought level, suggesting potential for more gains. However, the Stochastic at 87.38 approaches overbought territory, hinting at possible consolidation.
Resistance levels are at $53.29 and $62.70. Breaking above $53.29 could lead to a 27% rise to $62.70. Support levels are at $34.46 and $25.04. A drop to $34.46 would mean a decrease of about 30%. The 10 and 100-day SMAs are $52.81 and $50.61, so the price is below these averages.
Conclusion
NEAR, SHIB, KAS, and AVAX are strong options. However, XYZVerse unites sports fans, aims for 20,000% growth, and offers a unique, community-driven ecosystem with sustainable growth strategies.
You can find more information about XYZVersus (XYZ) here:
Site, Telegram, X
Disclaimer: This is a sponsored press release 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.
