4 Cryptocurrencies That Are About to Rise 100x in the Second Half of 2024
1. Lido DAO (LDO)
Current Price: LDO is trading near $2.30, up 8.3% intraday.
Technical Analysis:
The Lido DAO cryptocurrency has gained traction and broken out, marking the end of the correction phase.
The daily chart shows an interesting channel pattern breakout and a sharp increase in trading volume, indicating that increased demand could push prices higher.
Trading volume inflows surged by 40% to $327.9 million per day, with a volume-to-market cap ratio of 15.31%, indicating increased volatility.
The price has broken out of the descending channel pattern and the 200-day EMA, and a breakout above the $2.60 resistance could see the price rise by 50%.
The bullish crossover of the RSI and SMA lines supports the uptrend.
2. Polygon (MATIC)
Current Price: MATIC price is trading below $0.60 and has seen a sharp decline in recent days.
Technical Analysis:
MATIC price has been in a downtrend since early March, which is not over yet.
The RSI is currently in the bearish zone but has not yet reached the oversold levels, which are often seen as a sign of an impending recovery.
The market value to realized value (MVRV) ratio is signaling a recovery, with the 30-day MVRV at -15%, indicating losses, which could lead to buying pressure.
MATIC is changing hands at $0.57, with the next key support at $0.53, a rebound could push it back into the consolidation range of $0.75 and $0.64.
3. Gala (GALA)
Current Price: GALA is hovering around $0.028, up 3.9% intraday.
Technical Analysis:
Gala represents a web3 universe, supported by its proprietary Layer-1 blockchain GalaChain, covering Gala Games, Gala Music, and Gala Movies.
The daily chart shows that the cryptocurrency has been in a correction phase for the past two months, forming a descending channel pattern.
The recent decline has dragged GALA to a major demand area, from where the bulls are likely to attack, and an increase in volume could drive a price rebound and end the correction phase.
4. Render (RNDR)
Current Price: RNDR is trading at $7.78, up 8.13% in 24 hours.
Technical Analysis:
Render (RNDR), a distributed GPU network token, is one of the tokens with the largest gains in the last 24 hours.
