The volatility in the cryptocurrency market is on a constant rise, highlighting increased price action. However, top tokens have failed to gain momentum, resulting in them recording significant corrections in their respective portfolios.
With the current market situation, investors have expressed increased concerns about the upcoming bull rally, and questions like “Is cryptocurrency market going to rise again?” and “Will crypto recover in 2024?” have recorded increased traffic. Planning on investing in altcoins for the upcoming Bull Run?
Scroll down as, in this article, we have covered market sentiments, price analysis, and short-term price targets of the top 4 altcoins that have the potential to record massive price action during the upcoming week.
Beldex (BDX):
Despite recording a correction of 10.37% within the past 24 hours, the BDX price has recorded a jump of 14.95% over the past seven days. Furthermore, the altcoin has added 11.83% within the past 30 days, indicating a long-term bullish sentiment for the altcoin in the coming time.
With a trading price of $0.03842, a circulating supply of 6,447,708,970 BDX, and a total supply of 9,925,088,970 BDX, the Beldex crypto has successfully secured the 254th spot in the global crypto market list with a capitalization of $248.033 Million.
The technical indicator, RSI, is headed toward its mid-point after recording a sharp drop above the overbought range. Moreover, the average trendline displays a high possibility of a bearish convergence, suggesting uncertainty in future price action.
If the bulls regain momentum, the Beldex price will prepare to test its upper resistance level of $0.050 in the coming time. However, if the bears continue to dominate the market, the BDX coin price will plunge toward its lower support level of $0.032.
BakeryToken (BAKE):
After trading under a closed range between $0.2225 and $0.3630 for a brief period, the BAKE coin price has regained momentum and broke out of its resistance level, highlighting an increase in the buying pressure for BakeryToken in the crypto market.
The Cross EMA 50/200-day shows a bullish rise in the 1D time frame, suggesting an increase in the buying-over-selling pressure for the altcoin.
The Moving Average Convergence Divergence (MACD) displays a constant rise in the green histogram, indicating an increase in the bullish sentiment in the market. Furthermore, the averages show a positive trend, suggesting the price will continue gaining value in the coming time.
If the bulls continue to gain momentum, the BAKE price will head toward its upper resistance level of $0.6115 in the coming time. Conversely, in case of a bearish reversal, BakeryToken will plunge to its lower support level of $0.2225 this month.
Dimitra (DMTR):
Despite increased price volatility in the crypto market, the Dimitra token continues to trade in a closed range between $0.0940 and $0.1377. Moreover, the altcoin has recorded a correction of 3.83% within the past day but has added 20.89% over the past week, and has a YTD of 217.59%.
The technical indicators, SMA and MACD display a bullish price action in the 1D time frame, suggesting an increase in the buying pressure for the DMTR token in the cryptocurrency market.
If the market pushes the Dimitra price above the resistance level, the bulls will regain momentum and prepare to test its upper resistance level of $0.180. Negatively, if the bears gain power, the DMTR crypto will test its crucial support level of $0.0940.
Maneki (MANEKI):
Built on the Solana Chain, the name Maneki originates from a Japanese beckoning cat. It is known as the legendary leader with the wisdom of ages and the power to bring fortune to those who rally under its banner. The project is supported by its native token “MANEKI”.
The Maneki price has recorded a correction of 5.11% within the past day but has added 6.36% over the past week. Furthermore, the altcoin has surged 48.71% within the past 30 days, highlighting a long-term bullish sentiment for the crypto token in the market.
With a trading price of $0.011, a circulating supply of 8,422,887,212 MANEKI tokens, and a total supply of 8,888,887,212 MANEKI tokens, the altcoin has successfully secured the 456th position with a market capitalization of $92.545 Million.
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Coinpedia – https://coinpedia.org/price-analysis/top-altcoins-to-watch-for-the-next-week/
