Lately, there has been a noticeable shift in sentiment among crypto investors towards altcoins, as opposed to Bitcoin. This change is partly attributed to the growing understanding of altcoin’s diversity and future potential beyond Bitcoin’s dominance. Altcoins, such as Tezos, SingularityNET, and LUNC, have garnered considerable attention this week, which could send them to new highs soon.
Altcoin traders are watching these assets closely!
The cryptocurrency industry had a remarkably positive first quarter of 2023. The industry beat expectations despite earlier projections from investors predicting a short-lived bull run at the start of the year. Additionally, several altcoins have emerged with a transparent track record, overtaking Bitcoin’s dominance in the market.
Tezos (XTZ) Price Analysis
Despite the continued market downturn affecting most cryptocurrency prices, the value of Tezos (XTZ) has gained attention due to the Google Cloud partnership. Tezos could perform a bullish reversal over the coming week with a target of $1.75.
At the time of writing, the XTZ token is trading at $1.25 with an 8% decline. Looking at the daily price chart, the Tezos token is currently on a downward trajectory and aims to test its support near the EMA-100 at $1.1. However, as the RSI is still in a bullish region with peak buying pressure, the XTZ token may rebound next week and head towards the $1.75 resistance.
SingularityNET Price Analysis (AGIX)
As the popularity of the AI platform ChatGPT continues to rise, AI altcoins like AGIX have garnered enough attention to break their resistance levels coming next week. AGIX is currently trading at $0.42, with a 6.5% gain in the last 24 hours.
On the 4-hour price chart, the AGIX token has formed a triangle pattern with the potential to break its 31.8% Fib level. If AGIX breaks above $0.45, it may witness an exponential increase in the upper boundary of its Bollinger Band of $0.66.
Terra Luna Classic (LUC) Price Analysis
Luna Classic’s price movement is currently in an intriguing position that indicates the potential for an uptrend in the near future. However, this projection is not as simple as it seems. To initiate this bullish push, LUNC must first overcome a confluence of resistance.
LUNC price is currently trading at $0.00016 with a slight downward retracement. At the end of November 2022, the price of Luna Classic formed a 31% consolidation between $0.000145 and $0.000194. At present, the altcoin is still trading within this range without any significant movement. A break above the 100-EMA and $0.0002 will push the LUNC token past $0.00027 by next week.