As Altcoin Momentum Stalls, Top 3 Coins for a Wait-and-See Strategy
Recent trends show a cooling off in the altcoin market, creating a period of uncertainty for investors. With many waiting for the next big move, three promising coins emerge as potential winners ready to break out. This article dives into these top contenders, examining why they might be worth a closer look in the coming months.
Mantle (MNT) Eyes Potential Rebound Amid Price Fluctuations
Source: tradingview
Mantle (MNT) has recently dipped to between sixty-six and one hundred pennies, feeling pressure from bearish trends. Over the past week, the coin's value fell by twelve and a half percent, while the past month saw a nearly thirty-six percent decline. Despite this, its current RSI suggests it isn't overbought or oversold, hinting at a chance for a bounce. If the coin rebounds, it might reach the nearest resistance at just over a dollar, a possible increase of about twenty percent. If momentum builds, the next target could be just under a dollar and thirty cents, representing over a fifty percent hike from its current range.
Potential Rebound for BNB Amidst Price Slide
Source: tradingview
BNB is wobbling between about $695 and $864, after a rough month. It's dipped nearly 28% in 30 days, with a 6-month slip of 20%. Despite this downturn, the coin is holding above the $633 support level. If BNB can break past the $971 resistance, it could rise toward the $1140 mark. This move would mean a hefty potential gain of over 60% from its current range. The RSI suggests it's not in overbought territory, indicating room for a climb. The low Stochastic value also shows it might be oversold, hinting at a possible price rebound.
Chainlink (LINK) Eyes Potential Rebound Despite Recent Dips
Source: tradingview
Chainlink (LINK) is currently priced between eight and eleven dollars. This comes after a rough few months, with prices dropping over fifty percent in six months. The coin is sitting just above its support level near seven dollars. The nearest hurdle stands at over thirteen dollars. If LINK can overcome this, another barrier awaits at around seventeen dollars. Despite a decent level on the Relative Strength Index and other indicators, the near-term outlook remains cautious. However, breaking past these resistance points could lead to growth of about twenty to fifty percent. For now, traders remain watchful as LINK's moves stay within its recent price range.
Conclusion
When market momentum slows, focusing on MNT, BNB, and LINK makes sense. MNT offers a solid foundation in various use cases. BNB benefits from a strong platform and wide acceptance. LINK is key for connecting blockchain data. Watching these coins may provide clear insights during uncertain times.
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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