Altcoins are at a critical turning point!
At present, most retail investors have lost confidence. Whether it is publishing market analysis or project evaluation, it will attract criticism and opposition. There are even fewer discussions on related topics.
However, the market is quietly undergoing a new round of market reorganization. The proportion of Bitcoin market value to altcoins is currently approaching the suppression line again on the monthly line. After the last bull market reached this line, altcoins experienced a big market. Therefore, the probability of a market happening between July and November is very high.
The current price of high-quality altcoins is at the bottom range from a future perspective. Ethereum ETF funds have not yet entered the market, and market confidence still exists.
worst plans:
1. If the market continues to fall indefinitely in the second half of this year and the first quarter of next year, give up decisively!
2. If the main force is unwilling to leave even a little profit for retail investors, then there is nothing to say. Let the dealers stay with their Bitcoin and Ethereum forever.
However, I always believe that a period of sustained downturn often breeds opportunities. The emotions of retail investors and the state of the market will not deceive people.
5 Cryptocurrencies That Are Poised for a 100x Bull Run!
1.TON
TON price is forming a rising wedge on the daily chart as a bullish trend emerges. Moreover, the altcoin maintains its dominance above the 50D EMA having gained 53% in the past two months.
However, there is increasing supply above, forming a resistance trendline, completing the rising wedge. Moreover, the MACD and signal lines are about to see a bullish crossover, strengthening the possibility of an uptrend.
With a breakout rally, TON price is likely to break above the $10 psychological barrier and could reach the $13.26 level. If it breaks below the 50D EMA, the altcoin might test the $6 barrier, which is a suitable point to buy on dips.
2.TRX
TRX price is showing an uptrend with the bullish breakout rebound from the triangle pattern. Moreover, the bull cycle completed a rounding bottom reversal to avoid the death cross between the 50-day and 200-day EMA.
Currently, TRX price is trading at $0.12, up 1.16% overnight. Moreover, the altcoin has gained 15% over the past 35 days, causing the MACD and Signal lines to trend positively and move above the zero line.
With the bottom breakout, TRX price tests the 61.80% Fibonacci level and signals a bull run to the $0.14 mark. If the cryptocurrency market plummets, the altcoin may test the $0.12 or $0.10 mark before resuming a new bull run.
3.CFX
Similar to other altcoins, CFX price action is also showing a falling wedge pattern with bearish implications in the short term. The altcoin is gearing up for a breakout rally as the bull cycle gains momentum.
However, a breakout rally will face multiple resistances such as the 50D EMA, 200D EMA, $0.20 resistance, and the 23.60% Fib. Therefore, a sideways trend is likely near the upper supply zone.
As the bullish crossover of the MACD and signal lines gains momentum, CFX price could reach the 50% Fibonacci level of $0.28.
4.CHR
Chromia is a blockchain platform developed by ChromaWay that aims to simplify the creation of decentralized applications (DApps). ChromaWay has been active since 2014 and is also known for developing colored coins that represent various assets on the blockchain.
Chromia (CHR) is currently priced at $0.2407, up 4.27% in the past 24 hours. The market cap is $195.5 million, with a 381% surge in 24-hour trading volume. Moreover, the Layer 1 altcoin is down 84% from its all-time high of $1.50. On the other hand, the bull run from its all-time low of $0.008525 marks a staggering 2705.75% growth.
According to the trend-based Fibonacci levels, the price jumped from $0.21 to 1.618 levels and reached a high of $0.8435.
5.INJ
Injective is a blockchain platform that aims to revolutionize the financial sector through its advanced layer 1 infrastructure. In the recent market recovery, INJ price has seen a notable reversal from the combined support of $18.6 and the 100W EMA.
The bullish reversal has seen the asset rise 20% to trade at $20, while the market cap has surged to $2.077 billion. If the bullish momentum continues, then buyers may challenge the overhead trendline around $27.
A potential breakout could provide a better trend reversal signal and support Tier 1 altcoin INJ buyers chasing a target of $53.
