Market
3 Hidden Gem Altcoins That Can Surprise Investors in September
Throughout August, the cryptocurrency market has remained largely bearish, leaving many altcoins struggling to find momentum. While most major cryptocurrencies have failed to impress, some hidden gems are emerging as potential winners.
BeInCrypto has scoured the market and identified a few altcoins that investors should keep an eye on this month.
Helium (HNT)
Among the top 100 cryptocurrencies, Helium (HNT) has distinguished itself as a standout performer, recording a rise of over 43% in August despite the overall bearish market. This suggests that Helium could continue to perform well in the coming months, making it a coin to watch closely.
HNT is currently trading within a range of $6.33 to $8.01, with these levels acting as key consolidation points. The crypto’s next move depends on whether it can break through the $8.01 resistance level.
If bullish momentum continues, HNT is likely to breach this resistance, potentially pushing the price toward $9.00, which could lead to further gains for investors.
Read more: Helium (HNT) Price Prediction 2024/2025/2030
However, any further gains depend on HNT breaking the $8.01 resistance level. If Helium fails to surpass this mark, the altcoin could stay within its current trading range. This consolidation might frustrate investors looking for higher returns, as the absence of a breakout could indicate a period of stagnation rather than growth.
SUN.io (SUN)
SUN, the native token of the TRON-based SUN.io platform, has captured the market’s attention with its recent performance. Known for being TRON’s first one-stop platform supporting stablecoin swaps, token mining, and self-governance, SUN has seen a remarkable 326% rise in just nine days.
Currently, SUN is trading at $0.0346, hovering just below the critical resistance level of $0.03943. This resistance has proven difficult to break in the past, leading to tempered expectations for a breakout.
Despite this, SUN will likely maintain its position above the $0.0253 support. Investors may find this range crucial as it represents a consolidation zone where the token could gather strength for future attempts at breaking resistance.
Read more: 7 Best Tron Wallets for Storing TRX
However, the risk of a downturn remains. If selling pressure intensifies, SUN could drop below the $0.0253 support, erasing much of its recent gains. Such a decline would invalidate the bullish outlook and could signal a return to bearish conditions.
BinaryX (BNX)
BNX, the native token of the BinaryX GameFi ecosystem, is showing signs of a potential bullish breakout. Currently trading at $1.27, BNX is moving within a broadening ascending wedge. The token has been bouncing off the lower trend line of this pattern, indicating it might be gaining upward momentum.
For the bullish pattern to be confirmed, BNX needs to flip the $1.66 confirmation line into support. If this happens, it would validate the breakout potential, possibly pushing the price toward the $2.00 mark. Based on the broadening wedge pattern, such a breakout could lead to a 39% increase, setting a target price of $2.81.
Read more: Top 7 Metaverse Games to Play in 2024
However, the bullish outlook for BNX depends on successfully flipping the $1.66 confirmation line into support. If BNX fails to breach this level, the bullish thesis would be invalidated. In that case, the token would likely remain consolidated within the $1.66 to $1.19 range, which could dampen investor enthusiasm and result in a period of consolidation.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
ETF issuer WisdomTree’s European division just announced a new ETP based on XRP. This product is currently available in four EU countries, which has led XRP’s price to jump slightly.
ETPs are a common issuer strategy to earn revenue without ETF approval, but Europe will not necessarily approve one even if the US does so.
WisdomTree’s XRP ETP
WisdomTree, one of the Bitcoin ETF issuers in the US, announced that its European branch is offering an exchange-traded product (ETP) based on XRP. This new product is currently available in Germany, Switzerland, France, and the Netherlands. A growing number of issuers have filed for an XRP ETF, but WisdomTree is taking a slightly different tack.
“The WisdomTree Physical XRP ETP offers a simple, secure, and low-cost way to gain exposure to XRP, one of the largest cryptocurrencies by market capitalization. Backed 100% by XRP, XRPW is the lowest-priced XRP ETP in Europe, providing direct spot price exposure,” the announcement claimed.
The possibility of an official XRP ETF is growing with the current bull market, and Ripple CEO Brad Garlinghouse considers it “inevitable.” Still, it hasn’t happened yet, and ETP offerings allow issuers to somewhat address customers’ requirements. BitWise, which has also filed for an XRP ETF in the US, recently acquired a European ETP issuer to enter the same market.
WisdomTree, however, is no stranger to this market strategy. In May this year, it won approval to offer ETPs based on Bitcoin and Ethereum to British investors.
The UK has not yet approved a full ETF for either of these assets, but WisdomTree still gained market access. Even a fraction of the XRP market could also prove lucrative; the asset’s value spiked today.
WisdomTree Europe’s strategy page does not describe any further actions upon full approval. Even if the US approves an XRP ETF under the SEC’s new leadership, that won’t necessarily benefit WisdomTree’s European branch. For now, these ETPs built on XRP will have to suffice for this market.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
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