The post Altcoins to Watch During the Ongoing Sell-Off: Helium (HNT), Aave (AAVE), & This Popular Crypto May Bounce Back Soon appeared first on Coinpedia Fintech News
The crypto markets have entered a remarkable phase where it is offering numerous opportunities to accumulate tokens. While the wider perspective remains largely bullish, the popular tokens are believed to trigger a strong rebound in the coming days, which may revive a strong ascending trend. Here are some of the crypto that has been withstanding the bearish pressure with ease and hence are believed to revamp a bullish spell as soon as the trade shifts back into bullish favour.
Helium (HNT)
After a breakout from the consolidation in the first few days of the year, the Helium price has remained largely volatile. Regardless of the pullback, the prices have managed to recover most of their losses, due to which the probability of maintaining a strong ascending trend remains higher. Now that the markets are juggling between bullish and bearish forces, the HNT price is believed to revive a strong ascending trend and reclaim a double-digit figure soon.
The daily chart of the HNT price looks promising, with the potential to reach $10 in the next few days. The Bollinger bands have begun to squeeze, indicating a drop in volatility and volume, which usually has a positive impact. Secondly, all the DMI levels have converged at a point, expecting a breakout, which substantiates the bullish claim. Therefore, regardless of the short-term pullback, the Helium price is believed to maintain a strong ascending trend and test higher targets.
Aave (AAVE)
Aave price recently experienced a massive upswing with a price rise of over 65%, rising from levels below $90 to levels close to $150. This move triggered a breakout above the channel, but the bearish action that followed slashed the levels hard. However, the bulls have jumped into action as they have found a strong base along the resistance of the channel.
The RSI has maintained an upswing along an ascending trend line and the recent rebound before testing the levels suggests the growing strength of the bulls. Therefore, the price is expected to trigger a fresh rise if the bulls manage to close the trade above the channel. This could begin a fresh rise towards the monthly highs at around $145.
Tron (TRX)
Tron is among the cryptos that are trading very close to the highs formed during the 2021 bull run. While the markets consolidated throughout 2023, the TRX price maintained a steep ascending trend. Although the bears have intensified their action over the rally, the price is believed to continue with a steep rise and form new highs very soon.
The TRX price is trading within a rising, expanding megaphone, with the upper targets beyond the 2021 highs at $0.1643. The volume has seen a notable rise, due to which the token is expected to break out from the range very soon. However, the bears failed to drag the levels even when the Tron blockchain failed to function for more than 6 hours. Hence, the growing market sentiments are believed to rise the levels beyond $0.2 during the next bullish action.