Here are a few notable cryptocurrencies to watch for potential short-term gains based on their recent performance:
Avalanche (AVAX): This cryptocurrency has seen a significant increase of nearly 30% in the past week, and forecasts suggest it could rise further, potentially reaching around $35.29 by the end of August(Watcher Guru). Its unique consensus mechanism supports fast and secure transactions, making it a solid candidate for intraday trading.
Shiba Inu (SHIB): This meme coin has rallied about 13.7% in the past week, with analysts predicting it may breach the $0.00003 mark soon(Watcher Guru). Its volatility can offer trading opportunities for those looking for quick profits.
Chainlink (LINK): With an increase of over 21% recently, LINK is another cryptocurrency to keep an eye on. It is expected to reach around $13.51 by the end of August, making it a viable option for intraday trading(Watcher Guru).
Polygon (MATIC): MATIC is experiencing positive market sentiment due to its established role in enhancing Ethereum's scalability. It is well-positioned for growth, particularly in decentralized finance (DeFi) and NFT sectors(Blockpit,UseTheBitcoin).
For intraday trading, consider using technical analysis to identify entry and exit points, and stay updated on market news, as this can significantly influence price movements. Always be cautious of the inherent risks in cryptocurrency trading, including market volatility and regulatory uncertainties(UseTheBitcoin).
For more detailed insights, you can refer to the original sources of this analysis: (Watcher Guru)ps(Blockpit)ru/new(UseTheBitcoin)encies-to-watch-this-week-august-end-2024), Blockpit, and UseTheBitcoin.
