3 Bullish Altcoins Predicted
to Outshine
Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin)
in July 2024
The cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта market has witnessed a decline in trading activity in the
last month. At 2.41 trillion at press time, global cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта market
capitalization has dropped by 11% in the past 30 days. This has impacted the
performance of the leading crypto asset, Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin), whose price has fallen
by 12% during the period under review.
As June nears its end, some altcoins have witnessed a resurgence in bullish
bias toward them. Maker (MKR), Injective (INJ), and Kaspa (KAS) are some of
the altcoins that may perform better than BTC in July .
MakerDAO (MKR) Aims to Extend Seven-Day Rally
MKR is the governance token of MakerDAO, a leading cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта lending
platform. In the past seven days, the altcoin’s price has risen by almost 10%.
This uptick is due to a rally in the token’s buying pressure during that
period. Its Relative Strength Index ( RSI• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Линии Боллинджера » Индекс относительной силы RSI
• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Фондовый рынок » Технический анализ » Индекс относительной силы RSI ) is in an uptrend at 56.12 at press
time. This indicator measures an asset’s overbought and oversold market
conditions.
It oscillates between 0 and 100, with values above 70 suggesting that the
asset is overbought and may be due for a reversal. Conversely, values below 30
indicate that the asset is oversold and may witness a rebound.
MKR’s RSI• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Линии Боллинджера » Индекс относительной силы RSI
• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Фондовый рынок » Технический анализ » Индекс относительной силы RSI signals that buying pressure outweighs selling activity among market
participants.
The setup of MKR’s Directional Movement Index (DMI) confirms the position
above. At press time, the token’s positive directional index (blue) lies above
its negative index (red). This bullish signal confirms that bull strength is
dominant in the market.
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Read more: Dai (DAI) Cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта: A Beginner’s Guide Maker Analysis.
Source: TradingView
If MKR bulls remain in control, the token’s price may climb to $2612.
Injective (INJ) Rallies Past 20-Day Exponential Moving Average
INJ is the governance token that powers Injective, the Layer-1 (L1) blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
built for decentralized finance ( DeFi ) applications.
The altcoin’s value has risen by 10% in the past seven days. It currently sits
above its 20-day Exponential Moving Average (EMA). This measures an asset’s
average price over the past 20 days.
When an asset’s price climbs above this key moving average, it is a bullish
signal. It indicates that there is enough buying pressure to push the price
above this average level. Traders often interpret this as a signal that the
bullish trend might continue in the short to medium term.
Further, the dots that makeup INJ’s Parabolic Stop and Reverse (SAR) indicator
sit under its price.
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This indicator measures an asset’s trend direction and identifies its
potential price reversal points. When its dots are under an asset’s price, the
market is said to be in an uptrend. It indicates that the asset’s price is
rising, and the uptrend may continue. Injective Analysis. Source: TradingView
If INJ’s uptrend continues, the token may exchange hands at $24.37.
Kaspa (KAS) Witnesses a Double-Digit Price Rally
KAS powers the Kaspa proof-of-work• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн. The token’s value has risen by
over 20% in the past seven days.
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The price hike is due to the altcoin s current bullish bias. To confirm
this, its Awesome Oscillator returned green histogram bars at press time.
This indicator measures an asset’s price trends and identifies reversal
points. When it posts green bars, it is a bullish signal, indicating that
there may be upward movement or strength in the ongoing trend.
Further, its Elder-Ray Index also posts a value above zero as of this writing.
This indicator measures the relationship between the strength of buyers and
sellers in the market. When it returns a positive value, it means that bull
power dominates the market.
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Kaspa Analysis. Source: TradingView
If KAS maintains its uptrend, its price will rally past $0.2 .
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