Atlas Navi (NAVI) has been trying to break above a key resistance level at $0.150 but has yet to succeed. This resistance has limited the asset in recent price attempts, keeping the value within a narrow range.
Despite these setbacks, NAVI still has strong potential for significant growth, with some analysts predicting an 80% upside.
NAVI is eyeing a major rally
Analyst Michael Van de Poppe recently highlighted the DePIN (Decentralized Physical Infrastructure Networks) sector as a major opportunity in the crypto space, naming NAVI as one of his top holdings. According to Van de Poppe, the coin is well-positioned to capitalize on the growing interest in DePIN.
He further highlighted that there is huge growth potential in the altcoin.
From a technical analysis perspective, strong accumulation is taking place, ready for an upward breakout, potentially reaching $0.25, Van de Poppe highlighted here.
Read more: What is DePIN? – The Ultimate Guide
NAVI Breakout Potential. Source: Michael Van de Poppe
In terms of macro momentum, the currency faces challenges. The Chaikin Money Flow (CMF) indicator, which tracks buying and selling pressure, has revealed weak inflows into NAVI since mid-July.
This lack of buying pressure signals investor hesitation as market participants appear cautious about the DePIN token’s ability to break out. With these reduced inflows, NAVI may struggle to generate enough momentum to break above key resistance levels.
Investors are cautious, reflecting market skepticism, and are avoiding risk until the asset shows a sustained uptrend. If investments continue to weaken, this could weaken its upside potential, and a breakout will depend on more substantial interest to offset recent selling pressure.
CMF do NAVI. Fonte: TradingView
NAVI Price Prediction: Breaking Consolidation
NAVI is currently trading at $0.133 and is aiming to break out of its three-month consolidation phase by clearing the $0.150 resistance level. A close above this level would signal a potential trend change, potentially leading to gains. While this may not immediately propel it to $0.250, it would indicate a build in bullish momentum.
For the DePIN token to deliver on Van de Poppe’s bullish outlook, investor confidence must strengthen, with increased capital inflows supporting its price. Additional capital inflows could validate the bullish thesis, allowing NAVI to build on the DePIN sector’s momentum and attract more buyers to its market.
Read more: These 5 DePin cryptocurrencies could perform well in November
NAVI Price Analysis. Source: TradingView
However, if the token fails to break above the $0.150 resistance, it risks remaining in consolidation, jeopardizing bullish expectations. Losing support at $0.098 is unlikely, but if it does occur, it could drop further to $0.076.
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