Market

5 Altcoins You Should Keep an Eye on in July 2024

Published

5 days ago

June 28, 2024

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The crypto market has grown immensely for some time now and continues to, resulting in the emergence of new altcoins every day. Filtering the ones in which you should invest your efforts and money has thus become a difficult task.

To make this easier, BeInCrypto has compiled a list of altcoins you should watch out for in July to take advantage of the market.

Toncoin (TON)

The Telegram token Toncoin’s price is among the best-performing assets in this quarter. The altcoin not only formed a new all-time high at the beginning of June but is close to establishing a new one.

Trading at $7.6, TON could be making a move to invalidate the existing all-time high of $8.2 to push beyond $8.5. The existing uptrend line has been consistently tested and remained unbroken to date, cementing it as a support floor.

Read More: What Are Telegram Bot Coins?

In the event that the uptrend is broken, Toncoin’s price could be noted to have a drawdown to $7.

Notcoin (NOT)

Another Telegram token that you should keep an eye out for is Notcoin (NOT). The native token of the web3 game based on Telegram, NOT surprised the market with a 317% rally soon after its launch.

While over the past few days have not been very fruitful for the altcoin, NOT managed to break past the downtrend line this week. If this is sustained, the altcoin could begin reclaiming the lost profits by reaching $0.020, up from the trading price of $0.015.

On the other hand, losing the support of $0.013 could result in the invalidation of the bullish thesis and extended losses.

Solana (SOL)

Solana’s price has more to do with its demand in the last couple of weeks, which has been driven primarily by institutional interest. The CoinShares report highlighted that as of June 21, SOL had noted about $3.3 million worth of inflows.

This is higher than its competition, including Litecoin (LTC), Chainlink (LINK), and Ripple (XRP). If the altcoin breaches the resistance at $156, this could push SOL up from $144 to $169.

Solana Price Analysis. Source: TradingView

However, a failed breach could bring it down to $126, which has been cemented as a support floor in the last three months.

Kaspa (KAS)

Kaspa’s price could reach a new all-time high in the coming month, considering the altcoin has been maintaining its bullishness. The uptrend that began at the beginning of May has been sustained, and KAS changing hands at $0.177 could leverage this.

The current all-time high is $0.193, and in order to breach it, Kaspa’s price would need to breach $0.184 first. Flipping it into support would provide KAS with the necessary boost to establish a new ATH.

However, history could repeat itself since it has failed to close above this resistance thrice in the last four months. Consequently, Kas could end up consolidating above $0.162.

Brett (BRETT)

The meme coin, also known as PEPE’s best friend, has had an impressive run. Based on Coinbase’s BASE chain, the cryptocurrency has noted immense gains. During the first week of June, Brett’s price rallied by more than 132% before correcting.

The all-time high for BRETT is $0.195, and the meme coin could breach this. Considering the hype and demand surrounding the altcoin are still high, it could benefit from this.

BRETT Price Analysis. Source: TradingView

However, knowing the history of meme coins and the volatility that comes with them, there is a chance that this breach could fail. As a result, a drawdown to $0.140 is possible, which would invalidate the bullish thesis.

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.

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Market

Exploring Upward Momentum and Bullish Prospects

Published

47 mins ago

July 3, 2024

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Market

Should Investors See This as a Buying Chance?

Published

2 hours ago

July 3, 2024

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Market

Ethereum Reverses Course: Can ETH Bulls Save The Day?

Published

3 hours ago

July 3, 2024

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Ethereum price failed to climb above the $3,520 zone and corrected gains. ETH is now showing bearish signs below the $3,400 support zone.

Ethereum started a downside correction after it failed to surpass the $3,520 zone.
The price is trading below $3,400 and the 100-hourly Simple Moving Average.
There is a key bearish trend line forming with resistance near $3,410 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is now at risk of more downsides below the $3,350 support zone.

Ethereum Price Dips Again

Ethereum price failed to continue higher above the $3,520 and $3,550 resistance levels. ETH formed a top near $3,520 and started a fresh decline like Bitcoin. There was a move below the $3,450 and $3,420 support levels.

The bears pushed the price below the 50% Fib retracement level of the upward wave from the $3,351 swing low to the $3,516 high. It seems like the price trimmed most gains and might continue to move down below the $3,350 support zone.

Ethereum is trading below $3,400 and the 100-hourly Simple Moving Average. It is also below the 76.4% Fib retracement level of the upward wave from the $3,351 swing low to the $3,516 high.

If there is a recovery wave, the price might face resistance near the $3,400 level. There is also a key bearish trend line forming with resistance near $3,410 on the hourly chart of ETH/USD. The first major resistance is near the $3,435 level.

The next major hurdle is near the $3,465 level. A close above the $3,465 level might send Ether toward the $3,520 resistance. The next key resistance is near $3,550. An upside break above the $3,550 resistance might send the price higher. Any more gains could send Ether toward the $3,650 resistance zone.

More Losses In ETH?

If Ethereum fails to clear the $3,410 resistance, it could continue to move down. Initial support on the downside is near $3,365. The first major support sits near the $3,350 zone.

A clear move below the $3,350 support might push the price toward $3,250. Any more losses might send the price toward the $3,120 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 zone.

Major Support Level – $3,350

Major Resistance Level – $3,435

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