According to experts, this altcoin has stopped playing the underdog role as the Ethereum killer. Crypto analyst Nidhi Kolhapur suggests that there are strong signs that XRP will go above $0.058. Analyst Arman Shirinyan says that Aptos creates a symmetrical triangle pattern on the price chart. According to analyst Ibrahim Ajibade, MANA will likely break the current resistance at $0.62.
Altcoin buyers mostly bullish on AVAX
According to experts, Avalanche (AVAX) has stopped playing the underdog role as the Ethereum killer, as some of its key metrics show that it is one of the major Tier 1 protocols that brings the biggest returns to its investors. According to data from IntoTheBlock, as many as 785,000 AVAX addresses, or 25.35% of the total profiled addresses, are in profit at the time of writing.
Avalanche was one of the most hit altcoin projects during the crypto winter. That’s because a similar growth trend with the now-defunct Terra (LUNA) helped hit the all-time high (ATH) of $146.22 more than a year ago. Although it has dropped more than 87% from this level, AVAX holders seem to have recovered from their losses and look forward to the bright future of the protocol. According to the data, many AVAX holders are at a loss. That’s a loss, and while these hold the majority of holders, the steady growth in the protocol is calming investors across the board.
For AVAX, the 60.97% year-to-date growth is enough for the majority of holders to maintain their positive attitude towards the altcoin. In today’s social media age, AVAX’s growing social awareness continues to be a key feature of community branding in the Web3.0 world. Such coordinated bearish comments that contributed to the downfall of Terraform Labs and Avalanche have remained on the good side of its community over the past week.
According to data from IntoTheBlock, the total positive Twitter comments on Avalanche during the week were over 4,760, while negative tweets were around 700. This happened despite recent hacks and glitches. This figure is extraordinary and has come about thanks to the targeted partnerships it has signed across the board.
The price of this altcoin will soon rise above $0.58
The XRP market is showing strong signs of a potential break above $0.58, the high reached this year. Technical analysis indicates that XRP price is well positioned to rise beyond this threshold based on the Elliott Wave Principle and the recent ‘golden cross’ formed by the intersection of the 50 and 200-day moving averages. Also, XRP price may be in an early ascending channel on the daily timeframe. This suggests a rebound in the lower support channel and a push to new highs.
The XRP market has seen two consecutive gains on higher timeframes, which is a positive sign for the bullish sentiment. The golden cross, which occurs when the short-term moving average rises above the long-term moving average, is a widely followed signal that indicates market momentum is shifting towards buyers. In this case, the 50-day moving average broke above the 200-day moving average, which is considered a bullish sign for XRP.
Additionally, the XRP market prides itself on a vibrant global community of developers and investors who have created a variety of use cases for XRPL. Ripple, the company behind XRP, has made the ledger public for developers to create custom side-chains that can interoperate with other blockchains. The crypto protocol also enables DeFi developers to seamlessly integrate any application into the XRP Ledger.
Aptos forms symmetrical triangle formation
He says that Aptos (APT), a recently launched cryptocurrency, has formed a symmetrical triangle pattern on its price chart. This could be an indication of an impending rise in volatility. This chart pattern is common in various financial markets and usually indicates a period of consolidation before any significant price action in either direction.
cryptocoin.comAs you follow, Aptos has faced some challenges in the market since its debut. However, in January, the altcoin had a massive rally, gaining around 413%. As expected, a correction followed, with Aptos dropping nearly 40% from its local high. The formation of a symmetrical triangle formation on the APT price chart indicates that we may see a continuation of the uptrend in the near future.
The symmetrical triangle pattern is typically considered a continuation pattern. In other words, the prevailing price trend before the formation of the triangle will probably continue when the formation is completed. In Aptos’ case, the pattern is following a significant uptrend and indicates that APT price could potentially break to the upside once the triangle is resolved.
However, it is important to keep in mind that while the symmetrical triangle pattern is often seen as a continuation pattern, it can also result in a reversal of the current trend from time to time. Therefore, traders should be careful when trading based solely on this pattern, considering other factors such as market sentiment, trading volume, and related news or developments surrounding the altcoin project.
What’s next for MANA Price?
On March 28, the price of Decentraland (MANA) increased with the start of the highly anticipated Metaverse Fashion Week. The event featured multiple brands looking to engage with new audiences and open stores in the metaverse. In addition to the MANA price increase, on-chain critical data shows that the event was well received by Decentraland investors.
Global Money In/Out data from IntoTheBlock shows that MANA has a clear path to $0.70. As shown below, MANA will likely break its current resistance at $0.62, the maximum price 10,000 addresses paid for 177,000 tokens. If this happens, MANA could rise above $0.70. However, 30,000 addresses that bought 473,000 tokens around this price could profit and unintentionally block the rally.
However, the bears could push the downtrend if MANA loses the $0.57 support. But here, 10,000 addresses holding 177,000 tokens will try to block the drop. However, if this happens, the altcoin could drop as low as $0.47. At this point, support from 23,000 addresses with 324,000 tokens could trigger a rebound.
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For the rest of the article, These 4 Altcoins Are Now Favorite Of Investors! What to Expect?