Altcoins
Analyst Says One Memecoin Setting the Stage for Stronger Rally, Names Altcoin Presenting Opportunity After Dip
Published
2 weeks agoon
By
adminAn analyst known for making timely altcoin calls says one Dogecoin (DOGE) rival will make a huge comeback after the crowd takes their attention elsewhere.
Pseudonymous analyst The Flow Horse tells his 210,100 followers on the social media platform X that he’s long-term bullish on the memecoin dogwifhat (WIF).
According to the top trader, WIF will likely see sideways price action in the coming months, which he thinks will prepare the meme token for a big upside move in the second half of 2024.
“I think the dog is going to take off the hat for a bit.
Across every timeframe, WIF looks like it needs to see a vet. It probably ranges for some time, enough to get people moving on and doubting its long-term place in this market (it stands with DOGE now, in my opinion)…
The next pump is stronger though. I want to rebuy the summer dip.”
At time of writing, WIF is worth $2.40, down nearly 9% in the last 24 hours.
The trader is also keeping a close eye on Ethena (ENA), a governance token launched by Ethena Labs for the project’s decentralized finance (DeFi) protocol. According to The Flow Horse, ENA is one of the fastest altcoins to rise amid the current dip.
“Obviously, ENA the dip to buy during liquidations.”
At time of writing, ENA is trading for $1.06, up nearly 18% from its 24-hour low of $0.90.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Source link
You may like
Ethereum Flashes Bullish Signals, Can It Rally 50% From Here?
Consensys Takes Legal Action Against SEC to Safeguard U.S. Ethereum Community – Blockchain News, Opinion, TV and Jobs
Billion-Dollar Bank Paying $700,000 Penalty for Illegally Freezing Accounts, Transferring Customers’ Cash to Debt Collectors
MetaWin Founder Launches $ROCKY Meme Coin on Base Network – Blockchain News, Opinion, TV and Jobs
Forget Meme Coins And NFTs, RWA And DePin Are The Next Big Things – Blockchain News, Opinion, TV and Jobs
Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’
Altcoins
Most Altcoins in ‘Historic Position’ to Rally As Traders Realize Heavy Losses Over the Past Month: Santiment
Published
21 hours agoon
April 29, 2024By
adminAnalytics firm Santiment says the majority of altcoins look set to ignite rallies after a month-long crypto correction.
Santiment says that the ongoing marketwide pullback has driven many altcoin traders to unload their stacks and incur heavy losses.
“According to our model, the mid-term gains and losses by average wallets indicate heavy realized losses across most altcoins. Over 85% of assets we track are in a historic opportunity zone when calculating the market value to realized value (MVRV) of wallets’ collective returns over one-month, three-month and six-month cycles.”
The MVRV is an on-chain indicator used to assess whether a crypto asset is undervalued or overvalued.
With the MVRV hovering at prime opportunity zones across multiple time frames for most altcoins, the analytics firm says that alts may be in a “historic position” to witness rallies.
“It may be justified to buy while there is growing fear seeping in from the crowd after all of these market cap dips.”
Amid the setup for a potential rally, Santiment notes that traders are starting to ignore volatile altcoins like Dogecoin (DOGE) in favor of crypto assets that have held up well amid choppy conditions.
“The total amount of non-empty Bitcoin wallets is rapidly growing despite choppy prices. Altcoin wallets for assets like Dogecoin have flattened after enormous rises earlier this year. Cardano is one of the few networks to see active wallets drop.”
At time of writing, DOGE is trading for $0.149, down over 34% from its 2024 high of $0.228. Meanwhile, Bitcoin is worth $64,000, a 13% decrease from its 2024 high of $73,650.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Doremi/Sensvector
Source link
Render (RNDR), the cloud-based rendering network, is stirring excitement in the crypto market with technical indicators and analyst predictions hinting at a substantial price surge in the coming weeks or months.
Render Breaks Free From Technical Chains
Technical analysis paints a bullish picture for RNDR. The token has recently broken out of a bullish technical pattern known as the Dragon Pattern, also referred to as the supply line. This breakout historically signifies a potential shift in momentum, with prices likely to trend upwards.
RNDR 24-hour price action. Source: Coingecko
Adding fuel to the fire, analysts are observing the formation of Three Rising Valleys on RNDR’s chart. This pattern suggests a potential market bottom has been established, indicating a reversal from previous downward trends.
Furthermore, a bullish divergence on the four-hour chart hints at weakening selling pressure. In simpler terms, sellers are struggling to push prices down, failing to break below previous lows.
$RENDER – It’s looking bullish in my opinion.
Here is why 👇
• Dragon pattern aka the supply line which broke out already.
• Potential 3 rising valleys in the making while we established a potential bottom.
• 4 hour bullish divergence which means that sellers had a hard… pic.twitter.com/jMBzXWyG81
— Doji 🥷 (@SatsDoji) April 25, 2024
DoJi, a prominent crypto analyst, sees these technical indicators as a recipe for a price surge. Based on his analysis of the Three Rising Valleys, DoJi has set a price target of around $13 for RNDR. He even goes as far as suggesting a price explosion beyond $20 if historical price movements repeat themselves.
According to DoJi, surpassing a key resistance level of $9.20 could be the catalyst that ignites this bullish momentum.
RNDR Up 250% In 6 Months – But Can It Break Resistance?
In the previous half-year, RNDR’s value rose by an astounding 250%. The pattern of impulsive and corrective moves in the price fluctuation points to a turbulent market.
Forecasting the price trajectory of RNDR in the future offers both cautious and optimistic options. There is expected to be resistance at $10.90 and a larger barrier at $13.30.
If the price drops, $6.18 or even lower, $3.79, may provide support. RNDR network adoption rate and general market trends could drive price fluctuations, but long-term indications like the 100-day average point to a possible stabilization around $8.92.
RNDR market cap currently at $3.1 billion. Chart: TradingView.com
Analyst Chimes In With Optimistic Predictions
Meanwhile, DoJi isn’t the only crypto expert bullish on RNDR. Inspector Crypto, another well-respected analyst, has identified a bullish Inverse Head and Shoulders Pattern on RNDR’s chart. This pattern typically precedes a price increase, and Inspector Crypto has projected a target range of $14-$16 for RNDR based on this pattern.
$RNDR | Inverse Head and Shoulders pattern target: $14-$16#RENDER #Solana #Bitcoin #AltCoinSeason2024 #Bullrun2024 #ADA #Xrp #AKT pic.twitter.com/VRO8gcTAiH
— Inspector Crypto🕵🏻♂️📈 (@1nspector_G) April 26, 2024
The combined optimism from DoJi and Inspector Crypto reflects a broader sentiment of anticipation surrounding RNDR. While the token has experienced a slight dip in price recently, many analysts are closely monitoring its performance, waiting for the upswing signal.
Featured image from Pexels, chart from TradingView
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Source link
Altcoins
Solana Witnessing ‘Dramatic Increase’ in Investor Allocations This Year, According to New CoinShares Survey
Published
2 days agoon
April 28, 2024By
adminEthereum (ETH) rival Solana (SOL) is seeing a “dramatic increase” in professional investor allocations this year, according to a new survey conducted by the digital assets manager CoinShares.
CoinShares polled 64 investors worldwide who cover a combined $600 billion worth of assets under management.
The respondents include different investor types including wealth managers, hedge funds, institutions, family offices, financial advisors and individual investors.
Explains CoinShares,
“Investors have been broadening their exposure to altcoins, with Solana seeing a dramatic increase in allocations. Looking through the survey responses, this is due to a few large investors allocating, carrying more weight in the survey.
XRP has seen a significant decline, with none of the survey respondents holding it now.”
Digital assets represented an average of 3% of the respondents’ portfolios, the highest weighting since CoinShares’ survey began in 2021.
Explains the firm,
“Unsurprisingly, some of the largest contributors to this were allocation from institutional investors who finally had the ability to gain exposure to bitcoin via the US ETFs.”
CoinShares notes that investors who have refrained from purchasing digital assets cite regulation as the number one factor in their choice not to invest.
“We had expected this to fall, but it is clear from the survey there remain significant barriers to entry to the asset class for specific cohorts of investors – these are typically in the wealth management or institutional space.
Fewer investors believe digital assets lack a fundamental investment case.”
SOL is trading at $135.12 at time of writing. The fifth-ranked crypto asset by market cap is down over 6% in the past 24 hours.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Source link
Ethereum Flashes Bullish Signals, Can It Rally 50% From Here?
Consensys Takes Legal Action Against SEC to Safeguard U.S. Ethereum Community – Blockchain News, Opinion, TV and Jobs
Billion-Dollar Bank Paying $700,000 Penalty for Illegally Freezing Accounts, Transferring Customers’ Cash to Debt Collectors
MetaWin Founder Launches $ROCKY Meme Coin on Base Network – Blockchain News, Opinion, TV and Jobs
Forget Meme Coins And NFTs, RWA And DePin Are The Next Big Things – Blockchain News, Opinion, TV and Jobs
Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’
Legendary Trader Predicts When Bitcoin’s Bull Run Will End
JPMorgan Chase CEO Warns Multiple Headwinds Threaten US Economy, Urges Investors To Avoid ‘False Sense of Security’
Ethereum Price Reverse Gains, Can ETH Bulls Save The Day?
Most Altcoins in ‘Historic Position’ to Rally As Traders Realize Heavy Losses Over the Past Month: Santiment
Analyst Predicts Potential Climb to $16
US National Debt Surges $273,859,000,000 in Two Months As Billionaire Leon Cooperman Warns Nation Heading Toward Financial Crisis
Bitcoin Daily Transactions Just Hit A New ATH
Bitcoin Could Witness Repeat of November 2020 Parabolic Rally Amid Max Price Compression, Says Analyst
Analyst Says Prepare For 700% Jump To $4, Here’s When
Bitcoin Dropped Below 2017 All-Time-High but Could Sellers be Getting Exhausted? – Blockchain News, Opinion, TV and Jobs
What does the Coinbase Premium Gap Tell us about Investor Activity? – Blockchain News, Opinion, TV and Jobs
BNM DAO Token Airdrop
NFT Sector Keeps Developing – Number of Unique Ethereum NFT Traders Surged 276% in 2022 – Blockchain News, Opinion, TV and Jobs
New Minting Services
Block News Media Live Stream
A String of 200 ‘Sleeping Bitcoins’ From 2010 Worth $4.27 Million Moved on Friday
SEC’s Chairman Gensler Takes Aggressive Stance on Tokens – Blockchain News, Opinion, TV and Jobs
Friends or Enemies? – Blockchain News, Opinion, TV and Jobs
Enjoy frictionless crypto purchases with Apple Pay and Google Pay | by Jim | @blockchain | Jun, 2022
Block News Media Live Stream
Block News Media Live Stream
How Web3 can prevent Hollywood strikes
XRP Explodes With 1,300% Surge In Trading Volume As crypto Exchanges Jump On Board
Block News Media Live Stream
Trending
- Altcoins2 years ago
Bitcoin Dropped Below 2017 All-Time-High but Could Sellers be Getting Exhausted? – Blockchain News, Opinion, TV and Jobs
- Binance2 years ago
What does the Coinbase Premium Gap Tell us about Investor Activity? – Blockchain News, Opinion, TV and Jobs
- Uncategorized2 years ago
BNM DAO Token Airdrop
- BTC1 year ago
NFT Sector Keeps Developing – Number of Unique Ethereum NFT Traders Surged 276% in 2022 – Blockchain News, Opinion, TV and Jobs
- Uncategorized2 years ago
New Minting Services
- Video1 year ago
Block News Media Live Stream
- Bitcoin miners2 years ago
A String of 200 ‘Sleeping Bitcoins’ From 2010 Worth $4.27 Million Moved on Friday
- Bitcoin1 year ago
SEC’s Chairman Gensler Takes Aggressive Stance on Tokens – Blockchain News, Opinion, TV and Jobs