Following the recent outbreak of war news and the upcoming halving, sharp declines in cryptocurrencies, especially Bitcoin, continue to unsettle investors. Nevertheless, some altcoins remain on investors’ radar. Considering all these factors, let’s take a closer look at which 3 altcoins investors can closely follow.
Keep an Eye on Toncoin (TON)
Toncoin (TON), known to be supported by Telegram, has become one of the market’s noteworthy altcoins with a 25% increase over the weekly timeframe.
Especially on April 11, 2024, TON reached a peak value of $7.63, surpassing Cardano (ADA) and attracting attention as the 10th largest cryptocurrency by volume.
As we approach the following week, investors are closely monitoring whether TON can maintain its upward price movement despite the short-term general market downturn. TON investors can also focus on the partnerships the project has accomplished.
One example of these partnerships is the collaboration between The Open Network and biometric company HumanCode AI. The company recently launched a $5 million incentive program on TON to encourage individuals to register for the firm’s palm-scan “proof of personhood” system.
This initiative allows TON community members and users to interact with their wallets and scan their palms to share in the offered 1 million Toncoin reward pool.
In light of such partnerships, how TON will respond to these significant foundations continues to be a matter of curiosity. At the time of writing, TON was valued at $5.93.
Will Dogecoin (DOGE) Rise?
Dogecoin (DOGE) followed Bitcoin‘s downward trend and led the decline among meme cryptocurrencies.
As markets continue to resist movements made by BTC before the halving, the correction in Bitcoin indicates that cryptocurrencies should be closely monitored next week.
Specifically, this situation with Bitcoin’s price could result in DOGE being seen as an opportunity by more investors.
Conversely, selling pressure on DOGE’s price could cause it to fall below $0.15, potentially disrupting the bullish outlook and leading to further declines.
On the other hand, Dogecoin’s price is currently trading just below the vital support level of $0.15. This threshold could be considered an important buying point by investors and could be the starting point for a new upward movement for DOGE.
Following the latest price movements, Dogecoin was trading at $0.1493, indicating a daily loss of approximately 15%.
The Current State of XRP
The sharp declines in the last two days have clearly affected XRP’s movement towards the $1 level. XRP’s price was trading above the $0.60 support area in recent days, but now it is trading at $0.4746, below the crucial $0.50 support level.
With the price falling below $0.50, all eyes will be on XRP next week to see if the decline will deepen. Some analysts had previously indicated that XRP was ready for a significant rise.
An analysis by Egrag Crypto highlighted that there was still a balance between bears and bulls. However, the latest price movements suggest that bears are demonstrating dominant strength.
As of the time of writing, XRP had retreated to a price of $0.4746 following the recent decline.