There is a bull break for the four altcoins on Binance. So what are these altcoins? We researched it for our readers. Here are the details.
Bull signal for altcoin Cardano
Blockchain intelligence firm Santiment notes that the trading volume of altcoin ADA has been increasing recently. Accordingly, this reflects increased network activity and interest in cryptocurrency. This increased trading volume shows its investors that it is actively involved in the asset. Cardano’s number of daily active addresses reached the highest level of the year, showing that user activity increased. In addition, its social dominance has also increased, indicating a very active market. Despite the price drop, these metrics show increased transactions and interest. It likely points to a market bottom for Cardano.
According to DeFi Llama data, there has been a significant drop in Total Value Locked (TVL) in altcoin Cardano protocols since June 5, by about $50 million compared to the peak of $183.06 million in May 2022. However, especially considering ADA, TVL reached a record high of over 507 million. This represents a remarkable 250% increase since the beginning of the year. ADA’s flexibility in TVL can be attributed to various network improvements, including the May launch of Hydra, Cardano’s scalability solution.
What will be the price of altcoin Tezos?
The price of altcoin Tezos trading at $ 0.714 has been limited to a sideways movement for the past few days. The price settled just above the $0.711 support level. XTZ took this support level back in March. Afterwards, it tested for the second time this year, after which the altcoin recorded a recovery. A similar result is not in question this time. But the altcoin certainly seems to be on the move for a recovery. The Relative Strength Index (RSI) is in the oversold zone below the 30.0 mark. The altcoin has entered this territory for only the second time this year. Finally, at the beginning of 2023, XTZ recorded a rise. It is synonymous with recovery as it is an oversold zone. Similarly, the Moving Average Convergence Divergence (MACD) indicator is still observing a bearish divergence. However, the histogram shows a retracement of red bars, which is an indication that the downtrend is receding. Usually, this indicates that the asset is preparing for a trend reversal to be confirmed when the red bars turn green and break above the neutral line.
So if XTZ manages to bounce back, it will look to $0.883 as the next target. This will coincide with the 50-day Exponential Moving Average (EMA). Turning this level into a support base will also enable it to climb up to $1,000, a critical psychological level for the altcoin.
On the other hand, if Tezos price drops to the $0.711 support level, the altcoin will invalidate its bullish argument. This will leave XTZ vulnerable to a drop to $0.594. Accordingly, it will mark a four-year low for the altcoin.
XRP price stuck between two moving averages
XRP price is trading at $0.48. More specifically, however, it is positioned between the 100-day Exponential Moving Average (EMA) (blue) support and the 50-day EMA (red) resistance. The recovery seems to have stalled, reasonably hindered by a sell signal from the MACD indicator. Investors are especially waiting for the outcome of Ripple’s lawsuit with the SEC. However, he is not yet convinced that the altcoin XRP is ready for the big rise towards $1.
Investors looking to take a long position in altcoin XRP will want to wait until the price breaks and holds above the 50-day EMA. A more conservative option would be to wait for XRP to regain the $0.5 resistance. On the downside, shorts in XRP will not hold until the price breaks below the 100-day EMA and remains below that level. Also, market participants should keep in mind the potential support provided by the merger formed by the 200-day EMA (purple) and the ascending trendline (dotted). If the bears weaken this key support, we can expect XRP price to seek shelter at $0.43, not to mention the risk of falling below $0.4.
Altcoin Aptos price ready for trend reversal
The price of altcoin Aptos (APT) has dropped an astonishing 70% since the beginning of the year. It consolidated within a descending parallel channel characterized by low highs and low lows. This technical pattern shows that the overall trend is continuing in the downside. However, it is also used to identify possible returns. Aptos price, which is currently at $6.20, tested the $5.26 level in the June 10 trading session. After that, it seems to have found support. The bullish momentum is increasing as the Relative Strength Index (RSI) tilts upwards. This bodes well for the APT token.
A sustained increase in buying pressure will see Aptos price rise to face the upper boundary of the falling parallel channel. A decisive break above the resistance level of $9.17 marks the altcoin’s escape from the bearish management pattern. Accordingly, this will indicate the beginning of a northward movement. In particular, the Awesome Oscillator (AO) offers a sign that the bulls shown by the green histogram will turn in their favor. When we look at Kriptokoin.com, this indicates increased effort among the bulls. If fed, it will also be a facilitator for the Aptos price.
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