Are These Altcoins To Control The Coming Crypto Bull Run?
The cryptocurrency market continues to struggle as Bitcoin price hovers near the $64,000 mark. Moreover, top altcoins have shown a similar price trend with significant losses in their respective portfolios.
However, mid-range altcoins have recorded a bullish sentiment, indicating an increase in overbought pressure for these crypto tokens in the market.
In this article, we have covered two of the top altcoins that have the highest potential to record significant price increases in their respective portfolios in the coming months.
Aave (AAVE) Price Analysis:
Despite increased selling pressure in the crypto market, AAVE's price jumped roughly 10% over the past day with $350.47 million traded. Additionally, it has jumped 16.93% over the past week and 30.61% over the past 30 days.
Moreover, the altcoin has formed an ascending channel pattern in the 1D time frame and is on the verge of testing the resistance trend.
The RSI indicator is on the verge of breaking through the overbought region of the bullish curve on the price chart. Additionally, the Cross EMA shows a 50/200-day golden cross on the 1D time frame, indicating a positive outlook for Aave crypto.
If the market continues to trade on high sentiment, AAVE price will be set to test the $131 high resistance level this month. Conversely, a bearish reversal could lead to a low of $93.75 in the coming weeks.
Mantra (OM) Price Analysis:
OM price followed the same trend by adding roughly 5% to the portfolio over the past day. Moreover, despite registering a correction of about 1%, it rose 37.40% in the previous day and returned 1,940.27% year-to-date (YTD).
The Moving Average Convergence Divergence (MACD) on the red histogram shows a steady decline, indicating an increase in value for OM in the crypto space. Moreover, the EMA 50-day price chart is firmly supported, which indicates that the price of Mantra will continue to gain value this week.
In a bullish market scenario, the OM coin price may head towards a high resistance level of $1.60 this month. However, if the bulls fail to hold price above the support trend, Mantra crypto will retest the $1.050 low.
