As the crypto market stands on the precipice of a new bull run, Altcoins seems to be the “apple” of investors’ eyes this year — second maybe to ETFs — with Ethereum (ETH) leading the pack with a market cap of approximately $416 billion.
Arbitrum (ARB), Cardano(ADA), and Toncoin (TON) are not left out, either.
ARB, currently down by 1.95%, is showing signs of potential growth, with a predicted price of $1.14 by the end of July 2024. ADA, trading around $0.3920, is facing bearish market sentiment but holds promise with the upcoming Chang Hard Fork. Lastly, Toncoin (TON) is expected to increase by 13.33%, reaching $8.50 by July 18, 2024. This volatility points to the dynamic and unpredictable nature of the crypto market.
Arbitrum (ARB): Current Price, Predictions and Analysis
Currently, Arbitrum (ARB) is priced at around $0.7078, per CoinMarketCap data. Recent analyses suggest a potential increase in ARB’s price, with predictions indicating it could reach approximately $1.14 by month’s end. However, the broader market sentiment remains bearish, with a Fear & Greed Index score of 29 indicating fear.
Source: CoinMarketCap
The technical indicators are currently bearish, with ARB experiencing significant volatility. The 50-day and 200-day Simple Moving Averages (SMA) indicate a bearish trend. Nonetheless, the Relative Strength Index (RSI) is within neutral territory, suggesting potential for price movements in either direction.
Long-Term Forecast
Despite the current bearish sentiment, the long-term forecast for ARB is optimistic. The positive outlook is driven by strong network adoption and upcoming ecosystem developments, including the Ethereum “blobs” upgrade, which is expected to reduce transaction costs and enhance ARB’s performance.
Cardano (ADA): Current Price, Predictions, and Analysis
At the time of writing, Cardano (ADA) is currently trading at around $0.3920. The short-term forecast suggests a slight decrease, with a predicted drop as low as $0.161926 by July 18, 2024. The market sentiment is overwhelmingly bearish, with an 89% bearish sentiment according to technical indicators.
Source: CoinMarketCap
Despite the bearish sentiment, implementing the Chang Hard Fork could be a game-changer for ADA. If the hard fork is successful, ADA’s price could potentially increase. This significant update aims to enhance the Cardano network’s functionality, potentially attracting more users and investors.
Cardano is preparing for the Chang Hard Fork, set to occur by the end of July.It's worth noting that before its previous hard fork in 2021, $ADA surged 130%, from $1.35 to $3.10 in just a month. pic.twitter.com/E8zTEgZM6k
— IntoTheBlock (@intotheblock) July 6, 2024
ADA in the Long-Term
Looking ahead, ADA’s long-term prospects are tied to its ability to innovate and integrate new features. The successful implementation of the Chang Hard Fork and continued network growth could drive ADA’s price higher despite current market fears.
Toncoin (TON): Predictions, Market Sentiment and Technical Analysis
Toncoin (TON) is down by 1.78% at $7.155, press time. Analysts forecast a 13.33% increase, predicting the price will reach $8.50 by July 18, 2024. The market sentiment for TON is more balanced, with a Neutral Bullish sentiment of 66%.
Source: CoinMarketCap
TON has shown resilience and balanced sentiment in the market. Despite recent fears, the technical outlook remains positive.
TON’s Ecosystem Growth
The long-term forecast for TON is promising, with predictions suggesting the price could reach $10.01 within a year. The growth of the TON ecosystem and its integration into various platforms contribute to this optimistic outlook. The Open Network (TON) has shown robust growth of 200% in 2024, with a significant surge in total value locked (TVL), reflecting increased adoption.
While Arbitrum, Cardano, and Toncoin face varying degrees of market sentiment and technical challenges, their long-term prospects remain positive, driven by ongoing network developments and potential market recovery.
The post Performance Predictions for July 2024: ARB Shows Fear, ADA Bearish with Chang Hard Fork Nearing, and TON’s 200% Growth appeared first on Coinfomania.
