Analyst: 3 altcoins that could bring gains in July
Entering July, although Bitcoin has rebounded from its lows, the Cryptocurrency Fear and Greed Index still remains in the neutral range, indicating that investors are uncertain about the future market trend. At the same time, Aaryamann Shrivastava, an on-chain analyst at BeInCrypto, a currency circle foreign media, pointed out that even if the market performance is mediocre, there are still many altcoins that have the potential to skyrocket.
Below are 3 hidden treasure altcoins mentioned by Shrivastava that are undervalued by the market but may bring profits in July, and provide simple technical analysis for reference only and not as an investment basis.
MANTRA ($OM): The RWA token that’s under the radar yet
MANTRA ($OM) is a public chain project on the Real World Assets (RWA) track, providing secure and scalable infrastructure with the goal of creating a highly liquid RWA permissioned dApp ecosystem on a permissionless chain.
Shrivastava noted that in the first two weeks of June, $OM suddenly surged 55% to near $1.04, but subsequently failed to break through that resistance and subsequently experienced a sharp plunge that wiped out all gains.
Nonetheless, the price of $OM is still holding on to the key support level of $0.64, which it has held for three and a half months, giving $OM an opportunity to rebound, especially with the current relative strength index (RSI) approaching the buy zone. .
However, if this support breaks down, $OM investors could face huge losses. Because $OM could fall below $0.5, wiping out half of its gains since late March.
Image source: BeInCrypto
MANTRA ($OM) Price Analysis Forecast
Wemix ($WEMIX): Blockchain gaming platform token
Wemix ($WEMIX) is a blockchain launched by South Korean gaming giant Wemade, focusing on the blockchain gaming (GameFi) field. The Wemix ecosystem includes chain games, decentralized finance (DeFi) and NFT platforms, and has launched chain games such as "Legend 4" (MIR 4) and "Night Crow" international version.
Shrivastava noted that $WEMIX has not performed well over the past month, rising only 7%, but has started July with bullish potential.
In the past week alone, $WEMIX has gained over 35% and briefly broke above key resistance at $1.38, a level that has been seen as significant support in the past. If this point can be converted into support again, it will further promote the rise of $WEMIX, and there will be an opportunity to move towards $2 and enter a new consolidation range in the future.
However, if $WEMIX holders sell to take profits and fail to move back above $1.38, the short-term bullish view will be invalidated and $WEMIX could then drop to $0.98, erasing all of June’s gains.
Image source: BeInCrypto
Wemix ($WEMIX) Price Analysis and Predictions
Raydium ($RAY): Solana’s Liquidity Light
Raydium ($RAY) is an automated market maker (AMM) and liquidity provider on the Solana chain, providing services for the decentralized exchange (DEX) Serum. In addition to allowing holders to participate in governance, $RAY can also be pledged to earn income or participate in the DEX Initial Token Offering (IDO).
Shrivastava pointed out that while the broader market decline affected the market a while ago, $RAY’s performance has been unexpectedly solid.
$RAY has traded between $1.82 and $1.45 for the past three and a half months and is now looking for a breakout. $RAY’s exponential Moving Average Convergence Divergence (MACD) has also seen a golden cross in recent days, which is usually seen as a bullish signal.
MACD is a momentum indicator that tracks trends and is used to determine the strength, direction, energy, and trend cycle of underlying price changes. By analyzing MACD, investors can help find potential buying and selling signals.
Shrivastava said $RAY is looking to break out of the consolidation range, predicting that bulls will push the price to $1.99, which will help break out of the range.
However, if $RAY fails to break out, consolidation is likely to remain and the short-term bullish view will be invalidated.
Image source: BeInCrypto
Raydium ($RAY) Price Analysis Forecast
[Disclaimer] There are risks in the market, so investment needs to be cautious. Analysts' opinions are for reference only. Users should refer to more diverse indicators to judge whether to invest and consider whether any opinions, views or conclusions in this article are consistent with their specific circumstances. Invest accordingly and do so at your own risk.