Analyst: 3 altcoins that could bring gains in July

In July, although Bitcoin rebounded from its lows, the cryptocurrency fear and greed index remained 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 the cryptocurrency media BeInCrypto, pointed out that even if the market performs mediocrely, there are still many altcoins with the potential to soar.

Below are 3 hidden treasure altcoins mentioned by Shrivastava that are undervalued by the market but may bring gains in July, and provide simple technical analysis for reference only and not as an investment basis.

MANTRA ($OM): The RWA Token That Hasn’t Been Paying Attention

MANTRA ($OM) is a public chain project in the Real World Asset (RWA) track, providing a 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 around $1.04, but subsequently failed to break through that resistance and subsequently experienced a sharp drop, erasing all gains.

Despite this, the price of $OM has maintained the key support level of $0.64, which has been held for three and a half months, giving $OM a chance to rebound, especially since the current relative strength index (RSI) is close to the buy zone.

However, if this support fails, $OM investors could face huge losses as $OM could fall below $0.50, wiping out half of its gains since late March.

Source: BeInCrypto MANTRA ($OM) price analysis and prediction

Wemix ($WEMIX): Blockchain Gaming Platform Token

Wemix ($WEMIX) is a blockchain launched by South Korean gaming giant Wemade, focusing on the field of blockchain games (GameFi). The Wemix ecosystem includes blockchain games, decentralized finance (DeFi) and NFT platforms, and has launched blockchain games such as "MiR 4" (MIR 4) and "Night Crow" international version.

Shrivastava noted that $WEMIX has not performed well over the past month, gaining only 7% cumulatively, but has shown bullish potential to start July.

In the past week alone, $WEMIX has risen by more than 35% and once broke through the key resistance level of $1.38, which was previously considered an important support. If this level can be converted back into support, it will further promote the rise of $WEMIX, and there will be a chance to move towards $2 in the future and enter a new consolidation range.

However, if $WEMIX holders take profits and fail to move back above $1.38, the short-term bullish view will be invalidated and $WEMIX could drop to $0.98 and erase all of June’s gains.

Image source: BeInCrypto Wemix ($WEMIX) price analysis and prediction

Raydium ($RAY): Solana’s Light of Liquidity

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 staked to earn income or participate in the initial token issuance (IDO) of the DEX.

Shrivastava pointed out that while the broader market was affected by the recent sell-off, $RAY’s performance was unexpectedly solid.

$RAY has been trading between $1.82 and $1.45 for the past three and a half months and is now looking to break out. $RAY’s MACD also recently formed a golden cross, which is often seen as a bullish signal.

MACD is a trend-tracking momentum indicator used to determine the strength, direction, energy, and trend cycle of the underlying asset's price changes. By analyzing MACD, investors can find potential buy and sell signals.

Shrivastava said $RAY is looking to potentially 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 breakout, consolidation may continue and the short-term bullish view will be invalidated.