These 7 Altcoins Are On Investors’ Radar: High Expectation!

A new bullish mood is developing under the leadership of the leading crypto Bitcoin in the crypto money market. In this environment, investors and traders are exploring altcoin projects with potential and technical indicators supporting the bulls. Analysts explain their views for the 7 altcoins they have chosen.

This altcoin may have started a new uptrend!

According to crypto analyst David, the Graph (GRT) has successfully turned the previously long-term resistance level to support, potentially starting a new uptrend. Altcoin is a decentralized protocol that uses AI to support the Blockchain data query and indexing protocol on the Web3 platform. The explosion of artificial intelligence thanks to ChatGPT could help this token rise even higher this year.

GRT had fallen below the 20-week MA-EMA cluster since November 2021. This cluster had rejected the price multiple times, most recently in late October 2022 (red arrow), leading to a November low of the same year at $0.52. However, the price has since risen and climbed above this cluster ($0.11) with a large bullish candle. This move helped the price retrace the 0.382 Fib resistance level of the April 2022 decline.

GRT weekly chart / Source: TradingView

Despite the rejection, GRT successfully turned the 20-week MA-EMA cluster to support and formed a higher low. This is a very important development because it shows that GRT may have started a new uptrend. Therefore, GRT price could continue to rise towards the recent local high of $0.23 until the sideways resistance zone and the $0.29-0.35 resistance area formed by Fib 0.5-0.618. The RSI indicator supports this possibility when a significant bullish divergence occurs before the entire bullish move and is above 50. Breaking above $0.23 will confirm the trend is up.

LTC Up 10% As Investors Bull Halving Approaches LTC

cryptocoin.com Litecoin appears to be leading the market momentum as the broader cryptocurrency ecosystem enters a more systemic downtrend correction. Litecoin’s recent rise and divergence from Bitcoin can be attributed to the upcoming halving event that investors are already pricing in.

Prospective Litecoin price action has been the subject of analysis for some time, according to crypto analyst Rekt Capital. Rekt Capital said that LTC is showing strength and most of the market is struggling in this market-wide drop. He also highlighted the importance of not forgetting the LTC Halving, which will take place in August 2023.

Bitcoin eclipsed the leading altcoin Ethereum

Ethereum (ETH) continued its multi-month downtrend against Bitcoin (BTC) in March, up 5.5% compared to Bitcoin’s 19.5% month-to-date gain. As of March 23, the ETH/BTC pair is on track to record its worst month since September 2022, down 11.75%, down nearly 9% from the month to date to 0.0633.

ETH/BTC monthly price chart / Source: TradingView

From a fundamental standpoint, traders preferred Bitcoin to Ether, hoping it would protect themselves from the ongoing banking turmoil in the US and other parts of the world. The narrative has gained momentum in recent weeks as Wall Street investors like Cathie Wood see Bitcoin as a potential ‘flight to safety’ asset.

LRC price going to $0.50?

Crypto analyst Filip L looks at the technical outlook for Loopring (LRC) and charts a course for traders. LRC price is trading higher in 2023 after a net investor inflow that increased trading volume during the day. After that comes a few more candles that usually continue in the incoming candles. This means that traders following the volume chart can pinpoint when the next rally will start and wait for confirmation before trading at purely technical levels. The LRC has seen its volume decrease quite rapidly over the past few days; will happen soon. Look out for green spikes that match or go higher than the spikes on March 13 or 14. Once these become visible, a higher leg is possible, which could reach $0.50 by the end of April.

LRC 4-hour chart

A drop in volume could also indicate a larger underlying problem. Note the red volume spikes, which indicate large inbound sales volume. This could signal short-term nosedive moves that will end around $0.3125 as seen throughout 2023.

These altcoin projects are gearing up for the big rally!

The Bitcoin market is in the midst of significant weekly volatility following last week’s breakout and has been staying above the 200 WMA for the past few days. However, Bitcoin’s daily volatility has decreased significantly over the past four days after it hit a strong resistance level of around $28,000. With traders and analysts predicting that mid-cap altcoins could soon rise, money flows into high-volume altcoins.

Social media sentiment about altcoins like Ripple (XRP), Cardano (ADA) and Dogecoin (DOGE) is growing. Profiting in the Bitcoin market is expected to increase forced liquidation in Ethereum among other altcoin holders. Notably, Coinglass’s crypto liquidation data shows that $26 million of Ether and $22 million of Bitcoin have withdrawn from the top two crypto and digital assets in the past 24 hours. XRP, Cardano (ADA), and Dogecoin (DOGE) markets recorded liquidations of approximately $18 million, $3 million, and $2 million, respectively, during the same period.

Crypto liquidation is an important aspect considered by most analysts when charting Bitcoin and the crypto market. Also, Bitcoin and some crypto assets are derivatives of pure mathematics. Some offer inflationary limits amid the ongoing banking crisis caused by distrust of the traditional banking sector.

Analyst: Bitcoin is a product of pure mathematics

While more fiat believers fear rising inflation caused by bank runs, Bitcoin enthusiasts continue to save more money in anticipation of bull markets in the near future. Bitcoin price could be poised for similar moves in 2019, amid the third Federal Funds Rate announcement of 2023, according to popular Twitter user Crypto Kaleo, who has built a global reputation through crypto trading. Kaleo states the following in this context:

There are many similarities with the current range and where we are in Spring 2019 after BTC broke above the HTF bear market downtrend. Expect some downtime here before the actual posting begins.