2024 has sparked a market surge with promising opportunities in the alternative coin sector. This article provides insight from a leading analyst, highlighting five such coins poised for significant gains in the year's bullish trend. The selected altcoins are showcased with precision and clarity, each reflecting potential for growth based on current market movements and emerging trends.
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NEAR Protocol: Bounce or Break? Price Movements in Focus
NEAR Protocol has seen noticeable price action with a one-week drop of about 8%. Over the past month, however, it has jumped over 50%. An impressive six-month rally has taken it up by over 500%. Currently, NEAR floats between $6.74 and $7.98. Movement is more corrective following the recent highs.
Looking ahead, NEAR could aim for its nearest resistance of $8.67 if momentum picks up, but obstacles stand firm at the second resistance of $9.91. On the downside, protection at $6.18 may cushion falls, with a stronger safety net near $4.93. Balancing hope with caution, NEAR's journey will depend on market sentiment and adoption progress.
Ondo's price has been in the range of $0.85 to $1.08 recently. In the past week, ONDO dropped roughly 9.27%, but over the last month, it shot up by 60.11%. Looking at a longer span of 6 months, we see an astonishing rise of 2512.47%. The current movements of ONDO suggest it's in a mainly corrective phase, with indicators like the RSI and Stochastic not showing signs of strong momentum.
ONDO's future price could climb towards the nearest resistance at $1.18, and if it gains enough power, it may even push towards the second resistance level at $1.41. On the other hand, if buyers lose their grip, ONDO could slide back to find its footing at the nearest support of $0.73 or even deeper at the second support level of $0.50. The balance between the recent growth and the potential for reversal makes ONDO's price prediction a mix of cautious optimism.
Polkadot has seen a significant rise over the past six months, with its price jumping 107.62%. However, more recently, DOT has faced a downturn, decreasing by 10.49% this past week and 14.30% over the last month. The current price fluctuates between $9.27 and $10.04. The movement seems more corrective lately as the price is adjusting from previous gains.
Looking ahead at Polkadot's trajectory, the price might encounter resistance at $10.43 and stronger resistance at $11.20. If it goes down, it has support at $8.89 and stronger support at $8.12. With a Relative Strength Index (RSI) close to the middle range, DOT may steady for a while. Taking both bullish and bearish signals into account, the coin could still experience growth but might also face further adjustments as the market responds to various factors.
Mantle (MNT) is currently moving within a price range of $0.92 to $1.60. Over the past week, MNT has seen a price increase of 6.05%, and the past month has been even more impressive with a 42.29% rise. When looking at the performance over the last six months, the coin has surged by a notable 237.66%. The MNT price action suggests that the moves are impulsive, with high momentum behind the recent increases.
Looking ahead, Mantle (MNT) seems to have the potential to reach the nearest resistance level at $1.89, with the second resistance level at $2.57 in sight if the current momentum continues. However, traders should be aware that if the trend reverses, there is support at $0.53. With an RSI of 55.14 indicating that MNT is not yet overbought, and a MACD level of 0.03 suggesting the trend is still in favor, the outlook is cautiously optimistic.
NEAR, ONDO, DOT, and MNT may offer interesting prospects for the 2024 market surge, yet their short-term potential appears subdued. So insted, one could shift their focus to BlastUP, a project within the Blast ecosystem that stands out for its innovative concept. BlastUP shows the strongest potential among the discussed coins, promising substantial returns for those looking beyond immediate gains.
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