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Bitcoin’s halving event has fueled predictions of a major bull run, with some experts predicting a rally to $200,000. In this optimistic environment, some altcoins also attract attention with their growth potential. Analysts wonder if there are altcoins that could rise as investors look to diversify their portfolios beyond Bitcoin’s glitterati.
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Price of Render Increased by 62.15%, Upward Trend was Recorded
The recent rise in Render prices, which has increased by an impressive 62.15% in the past month and 670.02% in the last six months, indicates a strong upward momentum. The current price is at $11.70 and it has surpassed the 10-day simple moving average of $11.10. This could suggest continued interest and buying pressure, leading to potential further gains in the near term, with the nearest resistance at $9.12 currently serving as a base for an upward move. However, investors should be wary of fluctuations and consider the possibility of a pullback towards the $5.09 or even $2.66 support levels.
Long-term perspectives depend on Render’s sustainable market performance and still trading below its all-time high of $13.75, offering room for growth. The 100-day simple moving average at $6.34 indicates that the price is recovering further from historical lows and is likely indicating a stable upward trajectory.
The Rise of Ondo and Future Growth Prospects
Ondo’s 101.68% increase in the last month and 2722.23% in the six months indicate a strong momentum. The current price of $0.85 above the 10-day simple moving average of $0.73 may indicate further growth potential. However, caution is advised as rapid gains could lead to corrections, especially if it struggles to break through the nearest resistance level at $0.55 and the second resistance level at $0.66.
In the long term, Ondo’s significant price rise could attract continued interest and potentially push the price to test previous highs. However, strong past performance is no guarantee of future success. A break in the price below the immediate support level at $0.26 and a second support level at $0.08 could signal a larger trend reversal.
Pyth Network Growth: New Highs or Pullback?
Pyth Network’s growth has been remarkable, with the price rising by an impressive 65.64% in one month and an impressive 142.43% in the last six months. It is currently trading at $0.93 and is trading close to the immediate resistance level at $0.92, which could mean a potential push towards the second resistance at $1.18. Considering the previous all-time high of $1.16, a revisit to these levels is reasonable. Market indicators such as the RSI indicate a neutral stance, consistent with this cautious but bullish outlook. However, given its recent advances, a consolidation or a minor pullback is not out of the cards, so investors should watch how it interacts with the $0.38 and $0.12 support levels.
Looking at the bigger picture, sell signals from the 10-day simple moving average (SMA) and MACD at $0.95 could indicate short-term headwinds. Despite these signals, Pyth Network’s long-term journey could be promising if it maintains the growth momentum reflected in its half-year earnings. If the $0.38 support holds, this could provide a viable foundation for future growth. However, if the price falls below this level, it could test the second significantly lower support level at $0.12, warning investors to be prepared for possible volatility.
NEAR Protocol Rising Amid Uptrend
NEAR Protocol showed a significant jump of 108.71% in one-month prices and an even larger jump of 595.75% in six-month prices. The fact that it is currently trading at $7.72 above the 10-day and 100-day simple moving averages of $6.97 and $4.17 respectively indicates underlying strength. If the trend follows the bullish signal of the moving averages, we can see the price stabilize above the nearest resistance level at $8.49 and even test the second resistance level at $9.11.
However, it is wise to have a balanced view. With its all-time high at $20.70, NEAR has room to grow, but resistance ahead cannot be ignored. In the long term, the price could pull back if the $2.97 and $2.07 support levels are breached under selling pressure, as indicated by the current sell recommendation of the MACD. Therefore, while the rapid rise is promising for NEAR’s future valuation, the risk of a pullback should not be ignored.
Conclusion
While the crypto market is eyeing Bitcoin’s potential rise, some altcoins are being scrutinized by crypto lovers. This standout project offers a compelling value proposition, leveraging its fascinating concept and strategic position within the wider Blast ecosystem. Although the other coins studied have shown significant growth, it remains to be seen whether the BlastUP project will succeed or disappoint in the future.
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*This article is not investment advice! This is sponsored (advertising) content. Cryptocurrency investments are high-risk investments and there is a risk of investment loss. Do your detailed research before making any transaction!
