Every time before an outbreak, Bitcoin will fluctuate and adjust repeatedly, which will repeatedly torture the market and traders. This time is no exception. The market has basically digested the fear of the German government’s sale and Mtgox, but unexpectedly the situation in the Middle East has become chaotic again. If it continues to escalate, I believe it will scare the market again in a short time. However, everyone must remember that short-term trends cannot affect and change trends. Once a trend comes, it cannot be shaken unless it is completed.

After falling below the support level of 63,500 last night, Bitcoin once hit around 62,300, but then immediately pulled up and returned to above 64,000. It can currently be considered that it has been supported near the lower edge of the range of oscillation at 63,500, but this support is believed to continue to oscillate repeatedly to confirm whether it is valid.

At the 4-hour level, if it does not fall below 63,000, then I think the support last night is valid, and then it will continue to try to break through the 70,000 mark.

Buy the bottom of 5 altcoins that are worth 100 times more!

1.DSYNC

Destra Network provides decentralized cloud solutions. The value of its native token DSYNC has increased by 33% in the past seven days. Currently, it is one of the DePin tokens with the largest increase in this period.

Looking at the daily chart, its price action suggests that the recent gains are supported by real demand for altcoins. This is evidenced by the rising relative strength index (RSI). As of the time of writing, the key momentum indicator is in an upward trend and is 65.14.

The RSI measures overbought and oversold market conditions for an asset. DSYNC has significantly more buying pressure than selling pressure at 65.14.

If DSYNC continues to gain favor among market participants, its next price target would be $0.36, which was the highest price in May.

2.LMR

Lumeric (LMR) is a base layer technology that uses smart contracts to control how peer-to-peer (P2P) data streams are routed, accessed, and traded. Its native token, LMR, has been in the spotlight over the last week, with its price up 28% over the past seven days.

The rise in demand for the token pushed its price above the 20-day exponential moving average (EMA), which measures the average price over the past 20 days.

When an asset price breaks above this key moving average, it signals increased buying pressure and often signals continued price increases.

If LMR maintains the uptrend, its price will climb to $0.033.

3.AIOZ

AIOZ Network is a decentralized platform that leverages a global network of nodes to deliver content in a cheaper, faster, and more secure way. It is powered by the AIOZ token, which has seen its price rise by 22% over the past week. As of this writing, the token is trading at $0.58.

The asset price is forming an ascending channel on the daily price chart. This bullish pattern occurs when the price moves between two upward sloping parallel lines. The upper line acts as resistance, while the lower line acts as support.

At press time, AIOZ’s Aroon line is showing an upward trend, indicating strong market momentum. The Aroon indicator measures trend strength and identifies potential reversal points. When the line is at or near 100, it indicates that the uptrend is strong and has recently reached its highest high.

If this DePin token maintains the uptrend inside the ascending channel, its price will rebound to the resistance level of $0.63.

4. STORJ

STORJ, the native token of open-source cloud storage platform STORJ, has given a buy signal. The reading is based on a negative value of the altcoin’s market capitalization to realized value (MVRV) ratio evaluated on different moving averages.

An asset’s MVRV measures the ratio between its current price and the average acquisition price of all tokens or coins. When this ratio is below zero, the asset’s current market value is lower than the price at which most investors acquired their asset. The asset is considered undervalued and offers a good buying opportunity.

At press time, STORJ’s MVRV ratios for its 30-day and 365-day moving averages are -3.05% and -40.12%, respectively, according to Santiment.

At current price levels, a surge in STORJ demand could spark an uptrend.

5.XRP

XRP (XRP) is showing signs of competition between bulls and bears. The current price range is fluctuating between $0.58 and $0.63, reflecting cautious market sentiment. Recent data shows that bulls are struggling to break the $0.66 resistance level. Despite being on track for a 36.19% growth in the last month, the momentum is cooling. The 10-day moving average is at $0.65, suggesting difficulties in sustaining the upward move. If the bears gain dominance, the price could drop to the $0.55 support level, which would be a drop of about 10% from the current levels. On the other hand, crossing the $0.66 resistance level could spark a rally to $0.71, which would be a gain of about 12%.