Cryptoanalyst Mike Ermolaev is optimistic about four little-known cryptocurrencies that he says are poised to surge in 2024: Aptos (APT), Liquidity (LQTY), Render Token (RNDR), and LeverFi (LEVER). For Ermolaev, these altcoins are particularly compelling in the market.
Aptos (APT)
As highlighted by analysts, Aptos (APT) is showing a promising trend. The cryptocurrency is trading between $6.53 and $7.37, up 17.85% in a month. Furthermore, technical analysis shows an overall neutral to positive outlook, with multiple indicators pointing to growth potential.
For example, the relative strength index (RSI) is 55.87, indicating neutral market dynamics. However, the awesome oscillator is at 2.11, indicating a buy signal, suggesting that the price may rise.
In terms of moving averages, Aptos is showing strong buy signals on multiple time frames. According to analysts, resistance levels at $8.11 and $9.16 and support levels at $5.35 and $3.64 suggest that APT has room to rise before finding significant resistance.
โOverall, technical analysis of Aptos (APT) paints a picture of stability and possible growth in the market,โ he emphasized.
Liquidity (LQTY)
According to Ermolaev, Liquidity (LQTY) is exhibiting a mixed trend in the cryptocurrency market. The cryptocurrencyโs price fluctuated between $1.3359 and $1.5644.
LQTY has an RSI of 44.89, which puts it in neutral territory, while other indicators such as Stochastic %K, Commodity Channel Index (CCI), and the Average Trend Index (ADI) support this stance. In other words, the LQTY market appears to be in equilibrium.
LQTY has resistance levels at $2.3163 and $2.9898 and support levels at $0.9399 and $0.2370.
As Ermolaev said, these numbers suggest that if Liquidity attempts to move higher, it may encounter resistance in the near term.
"The mixed signals from the oscillators and moving averages indicate that the market is currently uncertain, with the possibility of fluctuations up and down. At the same time, there is a view that LQTY may have hit its lowest level, with huge appreciation potential," he noted.
Render Token (RNDR)
Meanwhile, on the Render Token front, analysts say the asset is showing a mixed but mostly positive trend, trading at $2.Between $43 and $3.96.
The Relative Strength Index at 65.6794 is neutral, while the Momentum Indicator at 1.7091 and the MACD at 0.3200 indicate a buy signal, suggesting some bullish momentum.
In terms of moving averages, Render Token is showing a strong upward trend. The exponential moving average (EMA) at $1.9251 and the 200-day simple moving average (SMA) at $1.9650 indicate buy signals, reflecting an ongoing uptrend.
Resistance levels at $2.8633 and $3.3449, and support levels at $1.7165 and $1.0513 suggest that RNDR has room to rise before encountering significant resistance. Render recently broke above $3 for the first time in 600 days.
โThis development demonstrates a return of investor interest and market confidence in RNDR, potentially signaling a positive trend for the token,โ he said.
LiverFi (LIVER)
Finally, Ermolaev shared his analysis on LeverFi (LEVER), which is trading between $0.0012 and $0.0015. According to analysts, the relative strength index is at 42.0873, which is neutral and indicates a balanced market.
Meanwhile, the 200 EMA at $0.0013 and the 200 SMA at $0.0013 indicate a long-term downtrend.
Pivot point analysis shows resistance levels at $0.0026 and $0.0039, while support levels lie at $0.0011 and $0.0008.
"These numbers suggest that LeverFi may encounter resistance in the short term if it attempts to move higher. Best-case scenario, LeverFi could offer a potential return of 400-700%," he calculated.
This optimism is based on the observation that the localized downward trend has been broken, while long-term support levels have been held for months.
Prices above the EMA100 and lower EMA indicate a strong bullish bias. So, according to analysts, LeverFi could be heading for a major uptick.
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