Best Altcoins To Stack Right Now Amid Ongoing Market Correction!
The post Best Altcoins To Stack Right Now Amid Ongoing Market Correction! appeared first on Coinpedia Fintech News
The cryptocurrency market continues displaying a mixed price action with the price of Bitcoin constantly hovering close to its important resistance/support level of $58,000.
However, taking advantage of the present situation, mid-cap altcoins have regained momentum and added significant value to their respective portfolios within a short period. Planning on investing in such altcoins?
Scroll down as, in this article, we have covered the market trend, price action, and short-lived price projections of the top 3 altcoins that have the potential to outperform top cryptocurrencies during the upcoming weeks.
THORChain (RUNE) Price Action
With the rising volatility, the RUNE price has recorded a jump of 5.83% within the past day with a trading volume of $292.59 Million. Further, it has added approximately 19% over the past week. Notably, with a market cap of $1.258 Billion, it has secured the 52nd position in the global crypto-list.
The Moving Average Convergence Divergence (MACD) has displayed a rise in the green histogram, indicating an increase in the buying pressure. Further, with a bullish convergence, this altcoin suggests a positive outlook in the coming time.
Suppose, the bulls continue gaining momentum, in that case, the THORChain price will head toward its upper resistance level of $6.140. Conversely, if the bears regain power, the RUNE price will retest its crucial support level of $2.925.
Injective (INJ) Price Action
The Injective price continues to display a sideways price action over the past few days, indicating weak buying and selling pressure for the altcoin in the cryptocurrency market. However, despite rising bearish sentiment, it has jumped approximately 6% over the past seven days.
The technical indicator, RSI continues hovering close to its mid-point, suggesting a weak price action for the altcoin in the market. Moreover, the average trendline displays a constant flatline, suggesting uncertainty in future price action.
If the market regains momentum, the INJ price will prepare to test its important resistance level of $21.35 this month. However, if the bears dominate the market, the Injective crypto could plunge toward its low of $15.
Aave (AAVE) Price Action
The Aave crypto price has displayed a strong bullish action since the year started. Notably, it has jumped 3.36% within the past day and 13.39% over the past week. With a monthly gain of approximately 11%, it has secured the 47th position with a valuation of $1.629 Billion.
The MACD indicator has recorded a strong bullish reversal in its chart, highlighting increased buying-over-selling pressure within the market. On the other hand, the averages display a high possibility of a positive crossover, suggesting that the AAVE coin price will continue gaining value.
If the bulls breach their important resistance zone above the $105.50 level, this altcoin could head toward its upper resistance level of $131. Negatively, if the bears regain momentum, the AAVE price will retest its lower support level of $93.75.
