The post Searching for the Biggest Crypto Winners After Bitcoin Halving. How Will Major Altcoins React to This Historical Event? appeared first on Coinpedia Fintech News
Bitcoin’s halving is a landmark event that historically triggered a significant market response. As this phenomenon draws near, attention turns to how other major cryptocurrencies will perform in its wake. With the bull market of 2024 underway, investors are keenly watching the unfolding scenario to identify the coins that will come out ahead. This article delves into the implications of the halving for these cryptocurrencies and forecasts their potential trajectory in the aftermath of Bitcoin’s big moment.
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Ethereum Price Movement: A Quick Glance
The current price range of Ethereum (ETH) is between $3,224 and $3,666. In the past week, the price increased by 7.19%. However, looking back over the past month, it’s down by 9.41%. Over the last six months, ETH has seen a significant rise of 128.28%. The price action suggests impulsive movements, pushing towards the next resistance level at $3,878.08, with current supporting ground at $2,993.39.
Ethereum’s price could potentially aim for the second resistance level at $4,320 if the positive trend continues. On the other hand, if selling pressure increases, prices might test the second support level at $2,551.04. With the 10-day Simple Moving Average (SMA) slightly above the 100-day SMA, and a Relative Strength Index (RSI) of 42.29 indicating that ETH isn’t overbought, the momentum could go either way, so both buyers and sellers need to watch closely.
Solana’s Price Evolution and Market Moves
Solana has been experiencing a lot of movement recently. The coin’s current price range is between $163.53 and $200.02. Over the last week, SOL’s price dropped by about 5.2%, showing some signs of cooling off after an impressive 19.1% increase in the last month, and a stunning spike of over 708% in the past six months. The market moves suggest the price action is taking a breather and may be in a corrective phase, as it sits around the lower end of its current price range.
Looking at SOL’s future, the coin shows potential for growth with the nearest resistance level at $220.50, indicating room for upside movement. However, it’s important to note the nearest support level lies at $147.52, which could act as a cushion if the price dips. The coin’s trading indicators like RSI and Stochastic suggest it’s neither overbought nor oversold, hinting at a stable momentum for now. While the past performance has been exhilarating, investors should keep an eye on market trends and key technical levels for SOL’s next big move.
Avalanche Crypto Price Movement and What Lies Ahead
Avalanche (AVAX) has seen a moderate increase in the past week, moving up by 0.81%. In the last month, it climbed by 12.34%, and looking further back, it has soared dramatically over six months with a 418.75% jump. The coin is currently moving between $44.15 and $54.34. Recent actions suggest it is in a phase of consolidation after a strong rally, bouncing between support and resistance levels.
Looking forward, AVAX might continue to face both ups and downs. If it keeps up the momentum, it could test the nearest resistance at $59.34 and even aim for the second resistance at $69.53. However, it’s also possible for the price to turn down towards the nearest support at $38.96 or even the second support level at $28.77 if it loses steam. The tempered growth and the balancing forces of buyers and sellers indicate a cautious path ahead for AVAX.
XRP Price Movements and Current Status
XRP has seen increased attention recently, presenting a positive 4.32% price change over the past week. In the past month, the coin has seen a slight increase of 0.43%, with a stronger 26.60% rise over six months. The current price fluctuates between $0.56 and $0.63, with movements suggesting a mix of impulsive and corrective patterns. The coin faces immediate resistance at $0.67. Support levels are close by at $0.53, and a secondary support at $0.45, hinting at a delicate balance in the market.
In the short term, the price of XRP may continue to vary as traders react to market conditions, aiming for the resistance levels. A break above $0.67 could see the price head towards the second resistance at $0.74. However, the relative stability seen in the 10-day and 100-day SMAs might restrain sudden movements. While the RSI and Stochastic values are neither extremities, suggesting the absence of an overbought or oversold market, the negative MACD level indicates potential for caution. Overall, optimism should be tempered with a careful watch on market trends and key support levels.
Conclusion
After the Bitcoin halving, major altcoins like ETH, SOL, AVAX, and XRP may not see significant short-term gains. These coins might experience moderate growth but won’t be the standout performers. Among them, BlastUP holds the highest potential due to its innovative concept and its place in the Blast ecosystem. This project stands out for its potential to appeal to investors looking for fresh opportunities in the cryptocurrency market.
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