1.EGLD
EGLD is trading in a range-bound pattern around $31, up 7% intraday as it attempts to stay above its 20-day EMA mark and looks set for a rebound.
The coin has been in a downward channel and has seen profit-taking over the past few trading sessions. Investors have liquidated their positions due to the bearish rebound in the market, causing the stock price to fall by more than 25% in the last month.
The EGLD token is about to rise and may reach the $50 mark soon.
In terms of market cap, it ranks 78th with a total supply of $27.14 million. Also, its market cap is $866.73 million, while its volume-to-market cap ratio is 0.0848.
The long-term bullish outlook is optimistic, with price targets of $45 and $50 in the coming sessions.
2.AXS
The Axie Infinity token has been forming lower lows for several weeks and has reached its critical support area of $4. However, the token looks oversold and could see a rebound in the future.
It is noteworthy that it has reached the demand zone and may pull back from there. Until it breaks the $4 mark, buyers will continue to fight and watch for a rebound.
The intraday decline of more than 9.80% reflects the subsequent sharp selling this week. It fell below the $5 pivot and fell below the 20-day moving average mark.
The company is ranked 166th with a market cap of $284.98 million. The positioning of the AXS token is worrying for bulls. Amid the broader bearish sentiment in the market, investors appear to be wary of making any new long trades.
It has been range-bound and moving sideways since 2024; the $12 supply zone and the $4 demand zone have been firmly defended over the past few months.
3.NOT
Trading inside a falling wedge pattern, Notcoin price faced profit-taking and retested its critical support area of $0.01000 this week. Since then, there has been a pullback and the coin is used to hold on to gains.
Meanwhile, the coin has fallen below the 20-day EMA mark and sellers have had the upper hand in the past few sessions.
The coin has strong momentum and continues to be bullish until June 2024. However, it peaked at $0.0291 on June 2 and continues to retrace over the past few trading sessions.
As of press time, NOT is trading at $0.0102, down more than 5.30% intraday. Its market cap is $1.05 billion, ranking 69th.
These top gaming altcoins are currently in a relatively favorable position and are priced favorably, allowing investors to buy them at a low price. Investors must keep a close eye on them and act with caution in advance.
4.PEOPLE
ConstitutionDAO was a crowdfunding project started by web3 enthusiasts to buy the original copy of the United States Constitution at a Sotheby’s auction. Although they did not win the bid, the PEOPLE token representing ConstitutionDAO’s equity has grown into a historic decentralized autonomous organization (DAO).
Furthermore, the token’s community-centric strategy has seen its price surge since its launch. In the past 24 hours, PEOPLE has gained more than 9%, indicating its strong short-term potential. In the past year, it has increased by 96% and 600%, respectively, highlighting its long-term growth potential. This rapid rise is due to a viral marketing campaign that included Nicolas Cage memes, listing on major exchanges, and a strong and active community.
Despite the recent decline over the past 24 hours, ConstitutionDAO has generally maintained gains over a longer period of time. The key question is whether the coin can continue its upward trend and set new highs in the third quarter of 2024. This is possible if bulls can maintain momentum despite the underlying selling pressure in the cryptocurrency market as a whole.
Although PEOPLE recently broke below the $0.10 support level and has struggled to break above this threshold over the past two days, analysts believe that ConstitutionDAO will rebound and surpass its all-time highs, driven by the bullish influence of spot Bitcoin ETFs. The token’s recent performance has enhanced its appeal as an investment option.
