Cryptocurrencies seem to have ended the dull part of the week for now. BTC is once again above $67,000. The appetite for risk among altcoin investors has increased, and we may see even stronger positive sentiment in the coming hours. This is expected to trigger larger gains in altcoins. Indeed, this is what we are seeing with POLYX.
POLYX Coin Price Prediction
POLYX Coin has been the altcoin with the highest gain in the last 24 hours on Binance, with a 70% increase. The price was around $0.35 at the time the article was prepared. Following the Fed meeting, the gains accelerated, setting the stage for a rise to $0.3838. If the increase continues, we might see it test the $0.43 level.
However, there’s a concern: similar movements to today’s have occurred on April 20-21 and October 30-31. Just as the price rose rapidly, it fell at the same speed the next day. If the same pattern occurs a third time, the POLYX Coin price could drop to the $0.27 area at best, followed by a fall to between $0.23 and $0.2.
Weekly candles with similar rises ending in long upper wicks could lead to investors quickly turning to panic selling in case of a sudden drop.
ENJ Coin Commentary
After a 150% increase in 34 days, the ENJ Coin price is recovering after pulling back to the $0.45 support. With a positive outlook for BTC in the coming hours and the price appearing to have found its bottom, ENJ Coin’s rise could be more lasting than the POLYX rally.
If the bulls can close above $0.53, then the peaks of $0.62 and $0.68 could be targeted again. While altcoins like BNB Coin are testing November 2021 levels, ENJ Coin is still far from this possibility. In November 2021, the price had risen to $4.83. For the rally to accelerate, $0.8 must become a strong support, making targets above $1.97 viable.
FLOKI Coin Commentary
Recently reaching an all-time high, the FLOKI price has fallen back to the $0.000159 support amid a weakening meme coin frenzy. For now, the area is still being defended, indicating that investors’ sentiment for a rise has not completely faded.
If FLOKI Coin starts a second wave, it could retest the $0.000286 level. Closures above this could open the doors for a new all-time high.
