Crypto As volatility continues to increase in the market, it is observed that the buying and selling pressure intensifies. Additionally, the top altcoins are showing a distinct bullish trend on their respective charts, indicating the potential for positive price performance in the coming period.
In this article, we have discussed the market sentiment and price targets for the top 3 altcoins that have the potential to outperform in the crypto market in the coming month.
Stacks (STX)
STX token is up 5.38% recently and its price is close to testing a key resistance level at $3,088, which is fraught with uncertainty. As long as the market supports the bulls, volatility continues to rise, increasing the likelihood of an imminent altcoin rally.
Additionally, in the last seven days Stacks Its price has increased by 21.73% and its Year-to-Date performance has reached 103.68%, which paints a positive picture for this altcoin. Additionally, Stacks token is displaying a bullish trend by surpassing the 50-day EMA on the 1D (Daily) time frame.
Technical indicator MACD offers a positive outlook for STX price in the coming period as the averages are showing a bullish trend in the 1G timeframe. Additionally, if the histogram shows an increasing pattern, it indicates that the price will continue to trade under the uptrend.
If the market price continues to stay above the $3,085 support level, Stacks price will continue its rise and is poised to test the upper resistance level of $4,250 over the next month. However, if a downtrend occurs, it could pull the price towards the $2.52 support level.
Kaspa (KAS)
After a successful 2023, Kaspa Its price showed a neutral trend in the first month of 2024, indicating that the price movement for the altcoin in the market is slowing down. However, as volatility increased, the price recorded a jump of 88.63% in the last few days.
The price hit a yearly high of $0.183, after which the bulls lost momentum and experienced a 36.62% correction. Since then, the price has been trading in a closed range between $0.116 and $0.140.
Showing a flat line on the MACD chart indicates that there is weak buying and selling pressure for the altcoin in the market. Additionally, the averages show a bullish crossover highlighting the bullish strength in the market.
As long as the market continues its uptrend, KAS price will test the upper level at $0.162. Conversely, if the bulls’ momentum fades, Kaspa token could decline towards the $0.116 support level in the coming period.
ImmutableX (IMX)
IMX price is showing a strong uptrend after being in a downtrend for about a month. ImmutableX The token has increased by 5.52% in recent days and 20.16% in the last week, indicating a high potential for an uptrend in the coming period.
The Moving Average Convergence Divergence (MACD) with a green histogram supports the bullish outlook for IMX price this week. Additionally, the averages exhibit a positive price movement, indicating a bullish trend for the ImmutableX token in the coming period.
If the market pushes the IMX price above the $2.55 resistance level, the bulls will move towards the upper resistance level at $3.08 in the coming period. In a downside scenario, downward price movement could cause the ImmutableX token to fall towards the $1.97 support level this month.
