Price Analysis

These Altcoins May OutPerform Bitcoin in the Short-Term! Is it the Good Time to Hold?

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Apr 29, 2022

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Article Highlights
  • Apecoin poised in the past 12 hours has witnessed extreme volatility which kept the traders on their toes but eventually failed to reach close to its ATH

  • On the other hand, STEPN(GMT) price is preparing for the next move which may easily surpass $5 with a single leg up

Will Apecoin(APE) Price Smash $30 This Weekend?

Apecoin price yet again gets rejected from its way towards the ATH. But eventually, after a small retest, the price appears to be poised to hit $30 at the earliest. The APE price was following a rising channel which was assumed to drop with a high magnitude. However, a fake breakout nullified the possibilities of a drastic plunge. 

apeprice

Now when the price has rejected the wedge, the next thing the asset could do is clear the next crucial level at $23.96. Moreover, if the price successfully rallies above $25, the path towards $30 may not be very tough. However, the price has not yet been confirmed with a breakout from the pattern. And hence if it re-enters the pattern, it may hit the lower support close to $20 before undergoing a massive rebound. 

How High can STEPN(GMT) Price May Rally Before this Weekend?

GMT price on the other hand maintained a significant consolidated trend within a wedge. The price soon broke out from the pattern and raised gigantically. After smashing the highs above $4, the asset quickly dropped hard to the current levels. Despite multiple attempts to halt the descending trend, yet price appears primed to hit the lower support around $3.28.

gmtprice

The RSI is on the verge to hit the lower bottom, while the selling pressure may get eased very soon. And hence displaying a significant chance of a rebound, the GMT price could ignite a strong rebound, but may only reach the middle band of the channel. However, it may face yet another rejection before achieving the crucial $4 level. 

No doubt the popular crypto-assets like Bitcoin, Ethereum, Cardano, etc may remain quite consolidated, but newly launched coins may turn the tables. These tokens are expected to undergo a serious upswing which may outperform the BTC price rally and also the ETH price rally. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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