With the cryptocurrency market starting to pick up, there are plenty of profits to be made by being in the right altcoins. However, the thing is, there are so many altcoins out there right now that it can be difficult to see the forest for the trees. In this article, however, we are going to discuss three altcoins that you should keep an eye on in the near future, at least if reputable analysts are to be believed.
MANA sits at a key point
Decentraland's (MANA) market capitalization and 24-hour trading volume fell 3.74% and 25.06%, respectively, to $740,893,275 and $124,675,447, at the time of writing in recent days. This drop in market capitalization and trading volume reflects a decline in investor confidence and market activity.
If the bulls can overcome the unfavorable sentiment and push MANA over the 24-hour high of $0.414, the next resistance level to keep an eye on is around $0.45. Breaking through this level may attract additional buyers, resulting in a positive trend in the market.
However, if the negative momentum continues and the support level of $0.3877 is broken, MANA may experience more selling pressure, pushing it to the next support level of $0.35.
AVAX may rise faster than BTC
Avalanche (AVAX) has experienced a price retracement over the past 24 hours, with bears lowering the price from an intra-day high of $12.10 to an intra-day low of $11.51. If this negative stance continues and the support level of $11.51 is breached, it could pave the way for further downward action toward the next support level at $11.00.
If buyers enter the market and push the price above the intraday high of $12.10, this could indicate a positive reversal and rise to the next resistance level at $12.50.
Analysts expect AVAX's likely rise to be faster than BTC's because of its positive momentum and the possibility of a breakout above the intraday high. This trend could attract additional buyers and drive the price even higher.
AVAX's market capitalization fell 3.24% and 49.63% during the downturn, to $4,147,149,758 and $224,003,326 respectively at the time of writing.
NEAR survives bearish momentum
Despite a slight bullish recovery early in the day, negative attempts to sink the NEAR Protocol (NEAR) were unsuccessful, as support at the low of $1.45 remained firm throughout the day. As a result, investors drove the NEAR price to a 24-hour high of $1.56 before encountering resistance and stabilizing around the $1.50 level at the time of writing.
At the time of writing, NEAR's market capitalization rose 3.20% to $1,493,627,741, but 24-hour trading volume fell 36.64% to $184,085,519, indicating a decline in trading activity. The earlier bullish momentum may have been propelled by favorable market sentiment or an influx of buyers. However, it remains to be seen whether this upward trend will continue in the coming days.
If the positive momentum crosses the $1.56 mark, the next milestone is around $1.60. If negative pressure increases and the support level of $1.46 is breached, the price may fall lower to the next support level of $1.40.
Source: Cryptobenelux.com
