Things develop according to their own rules; historically, when BTC retraces by 8%, altcoins may retrace around 20%. However, many high-quality altcoins are currently declining less than BTC, partly due to a long period of sideways movement resulting in fewer profit-taking pressures, and partly because the timing for altcoin explosions has arrived.
With BTC breaking above $100,000, many people are afraid of heights, and there are voices calling for a top, but I remain unmoved. This round of BTC is so excellent because the spot ETF has passed, and institutions like BlackRock and MicroStrategy are investing more aggressively than in the previous round. This is a matter of people and circumstances; the pro-crypto Trump being elected president is a matter of geography; with Trump’s presidency, the interest rate cut cycle may slow down, but we are still within a rate cut cycle, which is a matter of timing.
Theoretically, there are 19 days left until the altcoin explosion; let's wait and see!
Positioning for 4 cryptocurrencies with potential gains of up to 100 times in the future!
STX
Stacks has experienced significant price fluctuations recently. Over the past week, its price increased by 9.10%, and over the past month, it surged by 24.44%. In the last six months, the token's price has increased by 11.70%. This upward trend indicates strong market momentum.
The current price is between $1.82 and $2.24, hovering around the 10-day simple moving average of $2.23, above the 100-day average of $2.04. The relative strength index (RSI) is 56.60, indicating that the token is neither overbought nor oversold. The stochastic indicator is at 41.37, supporting moderate momentum.
INJ
Injective has recently performed well. In the past week, its price increased by 17.83%, and in the past month, its price skyrocketed by 49.71%. Over the last six months, INJ has grown by 9.75%. Currently, the token's trading price is between $24.17 and $30.11, showing strong upward momentum.
Technical indicators show that this wave of gains may continue. The 10-day simple moving average is $28.57, above the 100-day simple moving average of $26.84, indicating a bullish trend. The relative strength index (RSI) is 59.24, below the overbought threshold, indicating further room for growth. The stochastic indicator value is 69.18, with a MACD level of positive 0.3847, showing a promising outlook.
Looking ahead, the recent resistance level for INJ is $31.11. Breaking through this resistance may open the path to the second resistance level of $39.69, which means an increase of about 28% from current levels. On the downside, the recent support level is $19.85, with a second support level at $12.90.
VET
VeChain (VET) focuses on AI-driven supply chain and logistics. With its technology, businesses can track goods in real-time and verify product authenticity, providing assistance to industries such as agriculture and pharmaceuticals.
Investors are optimistic about this altcoin. It recently announced its membership in the European Blockchain Association, marking an increase in adoption in Europe. The results of this membership are already evident. VET's current trading price is $0.041029, with a total market cap of $3.47 billion. It has risen 37.9% on the weekly chart and increased by 97.7% compared to last month.
The outlook for VeChain (VET) is very promising; it is expected that by February 2025, this asset will break through the $0.080 mark. If this prediction comes true, VET is expected to become the next Dogecoin or Cardano.
ALGO
Algorand (ALGO) aims to provide scalability, strong security, and decentralization. Its unique pure proof-of-stake (PPos) consensus mechanism makes it an ideal choice for businesses and financial institutions looking to cut costs. These features have made it a favorite among DeFi developers.
After VeChain made groundbreaking progress in supply logistics, Algorand fills the gap between traditional finance and blockchain technology, positioning itself as a key player in the future of finance. Investors are eagerly purchasing this revolutionary product.
Algorand (ALGO) is currently trading at $0.3055, with a total market cap of $2.37 billion. It is predicted that by next year, its value will reach $0.436, almost double its current value. Investors are calling this altcoin the 'next Dogecoin', and they might be right.
