The post These Altcoins To Ignite The Upcoming AltSeason? appeared first on Coinpedia Fintech News
As the Ethereum price continues hovering close to its $2,500 mark, top altcoins continue stumbling, highlighting a weak bullish sentiment in the crypto space. Positively, investors consider this to be an excellent opportunity to buy altcoins at a discounted price.
Scroll down as, in this article, we have given a detailed description of the market sentiments, price analysis, and possible short-term price targets of the top 3 altcoins that have the potential to record a massive uptrend in their respective portfolios.
Stacks (STX) Price Action
The STX price has successfully regained momentum after trading under a bearish sentiment for a brief period. Moreover, with a trading volume of $79.179 Million, this altcoin has jumped 1.36% over the past day and has secured the 34th position in the global crypto list.
TradingView: STX/USDT
The Simple Moving Average (SMA) constantly acts as a support to the STX price chart in the 1D time frame, suggesting a rising bullish sentiment for the altcoin in the market. However, the MACD shows a constant flatline with its averages showing a bullish convergence. This highlights a mixed sentiment.
If the market regains momentum, the Stacks price will surpass its resistance level and head toward its upper level of $2.135. Conversely, if the bears overpowered the bulls, the altcoin will retest its crucial support level of $1.265.
Uniswap (UNI) Price Action
Despite increased selling pressure, the Uniswap price has jumped approximately 2% within the past day and over 5% during the last seven days. Moreover, this altcoin has been trading in a consolidated range between $5.350 and $6.920 since the month started, suggesting a weak bullpower.
TradingView: UNI/USDT
The Relative Strength Index (RSI) has displayed a constant rise toward the neutral point, indicating increased buying pressure for the UNI coin in the crypto space. Further, with a bullish action in its average trendline, it highlights a positive outlook in the coming time.
Maintaining the price above its resistance level of $6.920 will set the stage for the Uniswap price to test its upper high of $8.40. However, if the bears regain power, this altcoin will retest its low of $2.350 this month.
Bittensor (TAO) Price Action
The Bittensor price recorded a strong bullish price action for the first quarter, resulting in a yearly high of around $800. However, since then, it has constantly traded under a bearish sentiment and has leveled all its annual gains.
TradingView: TAO/USDT
The Moving Average Convergence Divergence (MACD) shows a constant flatline with its averages recording a similar action. Moreover, the SMA indicator has recorded a bearish convergence, suggesting a weak price action for the altcoin in the market.
With a bullish trend reversal, the TAO price could retest its resistance level of $326. Negatively, if the bears dominate the market, this altcoin will plunge toward its crucial low of $212 in the coming time.