‘Explosive Moves’ Expected for These 5 Altcoins on Binance!

Leading cryptocurrency analysts are expecting explosive moves for these 5 altcoins in the near future! According to experts, these altcoins may experience big rises in the near future! Here are the details…

These 5 altcoins could make big moves soon!

Stacks (STX)

Stacks has been surpassing other altcoins with its performance since the past few days. STX price has rebounded strongly and is up 10 percent in just 24 hours. The current price of $0.843249 per STX indicates renewed interest in this cryptocurrency. Last week, STX proved its resilience by maintaining a 9 percent run to lead other major altcoins. Experts interpret the sudden rise of STX to a recent rise. However, it is not yet clear whether this momentum will continue.

The current perception of STX is generally positive and bullish among investors. According to a recent assessment by LunarCrush, there was a 95 percent increase in bullish sentiment between April 2 and the date of analysis. This shows the strong interest in the coin and its growth potential.

However, the bearish trend towards STX has also increased over the same period. This shows that many investors are optimistic about STX, while others are more cautious. In addition to price action, STX has also seen significant growth in its Locked Total Value (TVL), which measures the amount of unique smart contract deposit in a protocol. However, the rapid increase in TVL has slowed since March 25. Despite this, STX remains the top choice among traders, as evidenced by the 24-hour 230 percent increase in trading volume.

Binance Coin (BNB)

Interest in BNB, one of the giant crypto money projects, is increasing. BNB price formed a strong support base above the $300 level in the past days. Recently, Bitcoin started a strong rally above the $30,000 resistance, sparking bullish moves in Ethereum and BNB. There was a break above a key downtrend line with resistance near $312 on the 4-hours chart of the BNB/USD pair. The pair settled above the 50% Fib retracement level of the downward move from the $347 low to $305 high.

BNB price is currently trading above $320 and the 100 simple moving average (4-hours). On the upside, immediate resistance is near the $330 area. This is near the 61.8% Fib retracement level of the downside move from the $347 high to $305 low.

A clear move above the $330 resistance could trigger bullish moves for BNB. The next major resistance is near the $348 level. The main resistance is forming near the $350 zone, where the price could rally towards the $365 resistance. Any further gains could send the price towards the $380 level.

Ripple (XRP)

XRP price surged 61 percent from March 17-29, scaling the top of the continuing range from $0.336 to $0.537. While impressive, the rally seems to have worn off, causing the altcoin to drop 17 percent from its recent local high of $0.585. Since the XRP price is trading around $0.518, traders need to pay close attention to the range between $0.475 and $0.436. This area is an accumulation zone that will allow the pushed aside buyers to step in and prepare for the next move.

The turn of the higher range to $0.537 would be an important signal that could start the next leg higher. A decisive move above this barrier would open the way for XRP price to the $0.633 tag. Beyond this level, the 62 percent and 70.5 percent retracement levels at $0.704 and $0.754 are the next bullish targets.

If the ripple bulls fail to take control, a pullback could push XRP price below the accumulation level to $0.475. In such a case, if the bears turn the $0.436 support level into a resistance barrier, it will skew the odds in favor of the sellers. Such a development could see XRP price drop to $0.336.

Polkadot (DOT)

According to the Twitter post, DOT currently ranks as the second most invested coin by Huobi investors. This comes after the altcoin outperformed Bitcoin (BTC) and Ethereum (ETH) on futures demand benchmarks. The ranking is obtained after taking into account the ratio of long-term trades to withdrawals made by each asset owner. Given that Polkadot’s open interest on the Huobi exchange has been on a downward trend since March 22, this increase could signal a possible demand spike. This surge showed signs of providing a pivot in the past 24 hours after Polkadot price retested March 11 lows.

At the time of writing, Polkadot price is at $6.29 after gaining almost 1 percent in the last 24 hours. The altcoin was rejected at the $6.45 resistance and found some bullish relief after the $6.10 support was held.

Considering Polkadot’s rankings of longs versus shorts in the derivatives market, it can be concluded that bullish demand may increase as the week progresses. Likewise, Polkadot price action showed that the selling wall could signal a possible bullish pivot as demand slowly but effectively outweighs selling pressure. If the polkadot price successfully catches enough volume, investors can expect at least 6 percent gains this week.

Polygon (MATIC)

Polygon Non-Fungible Tokens (NFTs) failed to surge due to the contagion of the crypto market in Q2 and Q4 last year thanks to Three Arrows Capital and FTX. But even after the market had rebounded in the previous few months, Polygon’s conditions remained unchanged even as its competitors witnessed growth. While the NFT field is said to be still developing, Polygon NFTs should take note of any increase in demand. Initially this was linked to the broader narrative of the minimum use cases NFTs offer, but that has changed in the last few months. The advent of the financialization of NFTs has provided liquidity to their holders by allowing disproportionate token holders to deposit their NFTs as collateral for loans.

This has led to an increase in the trading volume of the Ethereum and Solana NFT marketplaces. Among them, Blur on Ethereum and TensorSwap on Solana have observed the largest increases in volume over the past six months. In Polygon, only Opensea recorded minimal growth with an average volume of $10,000.

This is due to two reasons:

1. Broader crypto market conditions dwindling before the January rally.
2. Lack of investors in Polygon’s NFT market

The impact of the latter cause dampened the rise recorded during January and March. However, Polygon’s situation regarding MATIC transactions and network usage improved over the same period, suggesting that the broader market impact had nothing to do with the pressure on NFT marketplaces. In the last three months, network adoption has seen a 337 percent increase from 23,377 to 101,900. Network adoption means adding new addresses to the chain, and an increase in the same address indicates an increase in project traction.

Similarly, although trading volume on the Polygon network dropped significantly between February and April, average trading volume at profit noticeably dominated the average daily trading volume at loss.

Thus, although the crypto market is in relatively good shape, only NFTs on Polygon have not observed any growth. This will continue until demand spikes or innovative marketplaces like Blur emerge on the network.

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