Promising Altcoins Poised for July Gains
In the volatile cryptocurrency market, several promising altcoins are showing strong potential for July gains. Here are three underrated picks that stand out for their recent performance and innovative focus areas.
The cryptocurrencies market is teeming with opportunities, and amidst the noise, a few hidden gems are quietly gaining momentum. Here are three underrated altcoins that stand out:
MANTRA (OM) — Real World Asset Innovator
MANTRA is a Layer-1 blockchain focusing on Real World Assets (RWA). Despite a recent setback after a strong start in June, with a notable 55% surge, OM has found support at $0.64. This support level has held for over three months, providing a potential springboard for OM’s price, especially as the Relative Strength Index (RSI) shows bullish signals.
However, a breach of this support could lead to significant losses, potentially dropping OM below $0.50.
Wemix (WEMIX) — Gaming on Blockchain
Wemix, a blockchain gaming platform, saw modest gains of 7% last month but has shown a bullish trend recently, surging over 35% to $1.38. Breaking past the critical resistance at $1.38 could propel WEMIX towards $2.00, solidifying its position in the market.
Yet, failure to sustain above $1.38 may result in a correction to $0.98, erasing June's gains.
Raydium (RAY) — Liquidity Leader
Raydium has demonstrated resilience amid market turbulence, trading between $1.45 and $1.82 for the past few months. Recently, the altcoin has shown bullish signs with the Moving Average Convergence Divergence (MACD) indicating a potential breakout. A move above $1.99 could mark a significant breakthrough for RAY.
However, if RAY fails to break out, it may continue its consolidation phase, undermining the bullish scenario.
Bottom Line: These altcoins present compelling opportunities amidst the volatile crypto landscape, offering potential gains for investors with a keen eye on market trends.
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