Do. Jun 13th, 2024

Altcoin Market Overview

• The cryptocurrency industry has experienced a remarkably positive first quarter of 2023, with several altcoins emerging with a transparent roadmap.
• Altcoins, such as Tezos, SingularityNET and LUNC have garnered significant attention this week, potentially sending them to new highs soon.
• Traders are closely watching these assets and looking for potential breakout points.

Tezos (XTZ) Price Analysis

Despite the 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 potential for breaking its 31.8% Fib level and surge up to its Bollinger band’s upper limit of $0.66 if it breaks above $0.45 .

Terra Luna Classic (LUNC) Price Analysis

The price movement of Luna Classic is currently in an intriguing position that indicates potential for either another uptrend or breakdown below EMA-200 near $0.3550 within this week’s trading session if it fails to break above current resistance near $0..4790 . If LUNC makes an upside break from here ,it can reach up to its next major resistance near$0..6050 while being supported by both 50 & 200 day EMA lines .

Conclusion

Altcoins have seen an increase in sentiment among crypto investors this year due to their growing understanding of their diversity and future potential compared to Bitcoin’s dominance over them . Therefore , traders will be looking out for key levels when evaluating these altcoins like Tezos , SingularityNet & Terra LunaClassic which can potentially experience major breakouts this upcoming week .

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