In recent times, there has been a noticeable shift in sentiment among crypto investors towards altcoins, as opposed to Bitcoin. This shift is partly attributed to the growing understanding of altcoin’s diversity and future potential beyond Bitcoin’s dominance. Altcoins, such as Tezos, SingularityNET, and LUNC, has garnered significant attention this week, which may send them to new highs soon.
Altcoin Traders Are Closely Watching These Assets!
The cryptocurrency industry has experienced a remarkably positive first quarter of 2023. The industry has exceeded expectations despite earlier projections from investors predicting a short-lived bull run at the beginning of the year. In addition, several altcoins have emerged with a transparent roadmap, surpassing Bitcoin’s dominance in the market.
Tezos (XTZ) Price Analysis
Despite the ongoing market downturn affecting most cryptocurrency prices, Tezos’ (XTZ) value has gained significant attention due to Google Cloud’s partnership. Tezos may make a bullish reversal in the coming week with a target of $1.75.
As of writing, the XTZ token trades at $1.25 with a decline of 8%. Looking at the daily price chart, the Tezos token is currently on a downward trajectory and is aiming to test its support near EMA-100 at $1.1. However, as the RSI is still in a bullish region with a spike in buying pressure, the XTZ token may rebound next week and head toward the resistance of $1.75.
SingularityNET (AGIX) Price Analysis
As AI platform ChatGPT’s popularity is constantly rising, AI altcoins like AGIX have gained enough attention to break their upcoming resistance levels in the next week. AGIX is currently trading at $0.42, with a gain of 6.5% in the last 24 hours.
On the 4-hour price chart, the AGIX token has formed a triangle pattern with the potential of breaking its 31.8% Fib level. If AGIX breaks above $0.45, it may witness an exponential surge to its Bollinger band’s upper limit of $0.66.
Terra Luna Classic (LUNC) Price Analysis
The price movement of Luna Classic is currently in an intriguing position that indicates the potential for an upward trend in the near future. However, this projection is not as simple as it appears. To initiate this bullish surge, LUNC must first overcome a resistance confluence.
LUNC price is currently trading at $0.00016 with a minor downward retracement. In late November 2022, Luna Classic’s price formed a consolidation of 31% between $0.000145 and $0.000194. As of now, the altcoin is still trading within this range without any significant movement. A breakout above the EMA-100 and $0.0002 will push the LUNC token beyond $0.00027 by next week.
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Shayan Chowdhury
Shayan is a digital nomad and a professional journalist. He delivers high-quality engaging articles to Coinpedia through his in-depth research and analysis.
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