Top Altcoins Traders Are Monitoring While the Market Remains in Fear
Despite nervous market vibes, savvy traders keep their eyes on certain digital currencies. Some altcoins show promise even as apprehension spreads among investors. Discover which coins are catching traders' attention and may be poised for significant growth.
Solana Eyes Potential Breakout as Price Nears Key Resistance Level
Source: tradingview
Solana's price is currently bouncing between $123 and $140, showing signs of a potential rally. The next target for SOL is the resistance level at $151, which could lead to a boost of around 7% if overcome. Market sentiment is neutral, hinting at a balanced scenario for more growth or a fallback to support around $117. The coin's recent performance shows a decrease over a week and a month, but its potential for growth could rise to 20% if it breaks past its second resistance at $168. Investors are watching closely, as indicators suggest a possible upward trend.
Uniswap (UNI) Eyes Potential Rebound Despite Recent Slump
Source: tradingview
Uniswap's (UNI) price sits between $5.03 and $5.77 after dropping over the past month. Despite the downturn, there's still room for upward movement. The nearest resistance is around $6.23, marking a potential climb of almost 12% from the current level. Reaching the second resistance at $6.97 would mean an increase of over 20%. The coin is trading slightly above the 10-day simple moving average, showing a hint of recent stability. With an RSI close to neutral, UNI might shift upward if it gains momentum. The market's cautious optimism is palpable, even as UNI has dipped more than 30% over six months.
Ethena's Price Struggle: Can It Bounce Back?
Source: tradingview
Ethena (ENA) is currently trading between 21 and 27 cents. It's facing a challenge as the price tries to break past the resistance at 31 cents. The coin is also hovering above a support level of 19 cents. Recently, its value dipped nearly one-fourth over the past week. The moving averages suggest a trend below its short-term average, pointing to a tough spot. However, if Ethena can overcome the 31-cent barrier, it might aim for 38 cents, marking a rise of over 40% from the current low end. The market indicators show some overselling, hinting at a possible rebound if momentum shifts.
Conclusion
Despite the market's fear, traders are closely watching certain coins. SOL is noted for its speed and low costs. UNI offers unique benefits in the decentralized exchange space. ENA is generating interest for its innovative approach. These coins show promise and draw attention from savvy traders.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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