The cryptocurrency market is poised for excitement with whispers of a significant altcoin surge. With the anticipated 2024 bull run underway, attention shifts to strategic movements likely to precede a notable rally. This article delves into four essential tactics that could signal the onset of the next big altcoin wave. For investors tuned into market cycles, understanding these pivotal moves could be crucial for staying ahead of the curve.
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Render’s price movement shows significant growth, catching investors’ attention with a 20.97% jump this past week. Over the past month, RNDR has gained a modest 1.81%, while the six-month overview reveals an impressive 295.51% increase, indicating a strong upward trend. Currently, RNDR trades between $7.23 and $9.22. The coin is hovering near its short-term, 10-day average of $9.54 but still outpaces the 100-day average of $8.28, suggesting that momentum may be building towards the resistance at $10.48.
The RSI positioned at 71.94 and Stochastic value at 84.03 both point to potential overbuying, while the positive MACD value indicates continuing bullish sentiment. Given these indicators, Render seems to be in an impulsive move, pushing upwards with the potential to test further resistances if the current support at $6.50 holds firm.
Cosmos (ATOM) has seen a recent upswing, with the price moving up by 9.49% this past week. However, the monthly view shows a 16.46% dip despite a 5.18% rise over the last six months. ATOM is currently trading between $7.72 and $8.95. The upward move looks tiring as the resistance at $9.71 holds strong, and the RSI at 71.32 suggests we might be nearing overbought territory, which often precedes a slowdown or pullback.
The coin is moving in a phase that may suggest a short-term impulsive trend losing steam, as the latest prices are near the 10-day average of $9.04 suggesting a shift toward corrective moves. With the second line of support at $6.00, ATOM holders should watch if the current support of $7.24 can hold in case of a retracement.
Immutable’s current price is moving between $1.90 and $2.38. This week, the coin went up by almost 5%. But over the last month, it has dropped by around 20%. If we look at the past six months, the price has really gone up, by more than 144%. The Immutable coin is near the 10-day average of $2.24 and above the 100-day average of $2.18. With an RSI around 53 and a Stochastic number over 69, IMX is neither oversold nor overbought.
The MACD is barely above zero, hinting at a possible increase in momentum. Right now, the price seems to be doing a mix of going up and correcting itself as it interacts with various support and resistance levels. The nearest resistance is at $2.66, and support is at $1.70. If the price moves up, it could try reaching the second resistance at $3.14, but a fall could bring it down to the second support at $1.22.
The anticipated altcoin surge suggests that coins like RNDR, ATOM, and IMX may see less movement in the short term. Attention is turning towards BlastUP, which shows the most promise for growth. Its innovative concept stands out within the Blast ecosystem, positioning it as the coin with the highest potential in the current market shift. Investors are looking at BlastUP’s unique proposition as a significant factor for potential gains.
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