Bitcoin halving is a major event that reduces the mining reward by half. Historically it has led to price increases. The crypto market is currently alive with a bull run in 2024. This article examines selected cryptocurrencies that have promising potential due to the halving event. This article is aimed at those who want to understand how the event may affect different cryptocurrencies and their future growth.
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Current Trends and Potential Pros of Solana
Solana has been fluctuating between $187.3 and $210.62 lately. Looking at the price change last week, SOL decreased by 1.77%, which indicates a slight decline. However, it is up 37.25% on a monthly basis and is up an impressive 681% in the last six months. Despite the recent pullback, the long-term trend looks strong. The current price action appears to be corrective rather than impulsive, moving sideways rather than in a clear direction.
Given SOL’s current performance and technical levels, growth potential exists with the next resistance level being $218.61. If Solana breaks above this, it can target the second resistance at $241.93. However, RSI and Stochastic indicate that the momentum is not very strong at the moment, indicating a cautious stance. If Solana declines, it could find support at $171.97 and another safety net at $148.65.
NEAR Protocol: Bounce or Break? Price Movements in Focus
NEAR Protocol has seen noticeable price movements, with a one-week decline of around 8%. However, last month this rate increased to over 50%. An impressive six-month rally increased that by over 500%. Currently NEAR fluctuates between $6.74 and $7.98. The move is more corrective after recent highs.
Looking ahead, NEAR could target the nearest resistance at $8.67 if it gains momentum, but hurdles remain firm at the second resistance at $9.91. On the downside, protection at $6.18 could cushion declines with a stronger safety net around $4.93. Balancing hope with caution, NEAR’s journey will depend on market sentiment and adoption progress.
Cardano Current Dynamics and Future Price Path
Cardano (ADA) has recently seen its value fluctuate in the range of $0.63 to $0.68. Last week, the cryptocurrency fell 10.36%, and looking back a month, it fell 24.68%. However, in a broader perspective of six months, ADA recorded a significant increase of 118.87%. Price action appears to be corrective rather than impulsive at the moment, as seen in the sideways movement near support levels.
As ADA looks ahead, it’s clear there’s a mix of growth potential and the need for caution. The coin’s proximity to its immediate support at $0.60 could attract buying interest and potentially drive its price towards higher resistance levels at $0.71 and even $0.76. However, the recent decline warns traders to be careful. Balancing these factors indicates a cautiously optimistic outlook on Cardano’s price trajectory.
Solution for Cryptocurrency Choices
Analyzing the potential of cryptocurrencies during the bull run, SOL, ADA, and NEAR may offer less room for a rapid rise in the short term. BlastUP stands out with a strong concept within the Blast ecosystem, making it a cryptocurrency with remarkable growth potential. Investors looking to benefit from the Bitcoin halving event may find BlastUP an attractive option due to its innovative approach and position in the market.
Website: https://blastup.io/
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Disclaimer: This is a sponsored content and press release and what is written here cryptokoin.com It does not reflect the views of the team. High risk of loss should be taken into consideration in leveraged transactions and cryptocurrency investments, and extensive research should be done before investing in any platform.
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