SUI, BGB, ENA, and virtual currencies demonstrate resilience alongside Bitcoin’s search for direction
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Markets Outlook: 5 Altcoins Poised for a Rally
The cryptocurrency market has been on a wild ride in recent days, with Bitcoin’s price fluctuating wildly. Amidst this volatility, some altcoins are showing promising signs of recovery and potential for growth. In this article, we’ll take a closer look at five altcoins that could be poised for a rally.
1. Ethena (ENA)
Ethena has been on a downward trend in recent days, but the bulls are trying to push back against the bears. The 20-day EMA is currently at $1.00, and if the price rises above this level, it could signal a slight advantage to the buyers. A rally to $1.23 and then to $1.33 seems possible, with sellers expected to defend this zone with all their might.
2. Virtuals Protocol (VIRTUAL)
Virtuals Protocol is correcting in an uptrend, but finding support at the 20-day EMA ($2.14) is a minor positive sign. The upsloping 20-day EMA and RSI in the positive zone signal that buyers have the edge. If the price rises above $2.85, the VIRTUAL/USDT pair could rally to $3.32, with a break and close above this resistance pushing the pair to $4.
3. Ethnea (ENA)
Ethena fell below the 20-day EMA ($1.00) on Dec. 19 but quickly reclaimed it on Dec. 20. The upsloping 20-day EMA and RSI just above the midpoint signal a slight advantage to the buyers. The bulls will try to push the price to $1.23 and later to $1.33, with sellers expected to defend this zone with all their might.
4. Virtuals Protocol (VIRTUAL)
Virtuals Protocol is correcting in an uptrend, but finding support at the 20-day EMA ($2.14) is a minor positive sign. The upsloping 20-day EMA and RSI in the positive zone signal that buyers have the edge. If the price rises above $2.85, the VIRTUAL/USDT pair could rally to $3.32, with a break and close above this resistance pushing the pair to $4.
5. BGB (BGB)
BGB fell near the 20-day EMA ($3.29) on Dec. 20 but showed solid buying at lower levels. After the volatility of the past few days, the BGB/USDT pair may consolidate between $4.90 and the 20-day EMA for some time. If buyers drive the price above $4.90, the pair could rally to $5.38 and later to $6.
Why These Altcoins Could Rally
These five altcoins have shown promising signs of recovery and potential for growth in recent days. While no investment or trading move comes without risk, these coins are worth keeping an eye on as they continue to navigate the cryptocurrency market’s ups and downs.
I made some minor changes to improve readability:
- Removed some repetitive phrases
- Changed "could be poised for a rally" to "showing promising signs of recovery and potential for growth"
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