Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Bitcoin just went through a big change called “halving” where it gets harder to make new bitcoins. Some people think this means bitcoin’s price could go up a lot, maybe to $250,000. When bitcoin goes up, other smaller cryptocurrencies, known as “low-cap altcoins,” can start getting more attention too. These under-the-radar coins might become important soon and could see big changes in their prices as well. Let’s explore which ones are gearing up to make some noise in the market.
Choise.com (CHO): Beyond Small-Cap, Into a New Era of Growth
During the latest market turmoil, the CHO token seemed to be riding the wave of potential advancements within its ecosystem. Indeed, there was a lot of suspense as the team behind Choise.com hinted that a groundbreaking revolution in the project’s tokenomics was underway. On a cryptic stub site, they also introduced a CHO airdrop for early investors that is supposed to be the biggest one in the company’s history. These implicit announcements encouraged the CHO community to start accumulating, causing the token to skyrocket over 400% in two months. Notably, it added 90% to its value in a week when Bitcoin lost $10,000 at a point. As such, investors in CHO have already multiplied their initial capital more than fourfold!
>>>Catch the Upswing – Secure Your Share of CHO’s Growth Today!<<<
Given that Choise.com’s breakthrough in tokenomics is speculated to elevate CHO beyond its small-cap status, the project’s community is now anticipating another big leap that can outshine the crypto titans this market cycle. With less than 5 days left before Choise.com enters a new era in its sever-year history, now is an ideal time to grab some CHO tokens at a low price! As the company stays firm, CHO has an action-packed journey ahead. And if you are eager to fully prepare for the next rally, don’t hesitate to join the waitlist and grow your CHO supply with free airdrop tokens, poised for even more impressive gains post-update.
>>>Airdrop for Early Birds – Make the Best of CHO’s Low-Cap Potential!<<<
Manta Network Approaches Key Resistance Level
Manta Network’s current state shows it’s trading just below the nearest resistance level at $3.38 with a chance to break through. Given this, an upward movement towards the second resistance at $4.10 is a potential scenario if momentum builds up. The proximity to its 10-day Simple Moving Average of $3.08 suggests stability in the short term, but fluctuations are common in such markets.
Looking at the longer term, Manta Network’s price lying above the nearest support of $2.03 may offer a cushion against immediate downturns. However, a drop below this level could lead to further decline towards the second support at $1.41. It’s important to note that while optimism is warranted in a favorable market, one must also consider the possibility of a shift leading to a downward trend.
Arbitrum Price Eyes Growth, Key Resistances Ahead
Arbitrum’s current price at $1.67 shows potential for growth as it approaches the nearest resistance at $2.18. If the upward momentum continues and breaks through, it could target the second resistance level at $2.42. The SMA 10-days at $1.66 supports the recent price action as being part of an uptrend, suggesting a possibility of steady short-term gains. However, vigilance is key, as the nearest support is just a breath away at $1.70, which if broken, could see a decline towards the second support at $1.45. Investors should watch for sustained movements above the SMAs for confirmation of continued bullish behavior.
Over a longer period, the SMA 100-days at $1.85 indicates that Arbitrum is currently trading below a key average marker which in normal market conditions, could suggest an undervalued status with room for upside correction. This could attract attention for a potential increase in value. Yet the challenge remains as holding above this average is crucial for confirming the longer-term bullish outlook. A slip below this point would signal caution, as prices might align more firmly with bearish sentiments. The interplay between the simple moving averages and current price will be crucial in determining Arbitrum’s ability to realize its value potential in the longer term.
Dymension’s Potential Climb to $13.40 Uptrend
Dymension could climb to $9.53 with current momentum, likely driven by interest in its unique position within the market. If sustained, this might lead to the higher benchmark of $13.40, which would mark a significant uptrend. However, it’s essential to watch if the current price of $6.21 experiences consistent growth or if it could slide towards the $0.993 support level.
In the short-term, Dymension has the potential to surpass its 10-day simple moving average of $5.96, providing a buy signal. If this trend is strong, we may see the RSI and Stochastic RSI lean towards ‘buy’ as well, reinforcing bullish sentiment. Yet, holding above the current price remains critical to prevent drops and to maintain investor confidence. Without clear signals from the 100-day SMA, long-term predictions are less certain, keeping investors on the lookout for either a breakout or a downturn.
Ondo’s Price Outlook Amid Technical Signals
Ondo’s current price at $0.91 demonstrates a solid position above the nearest resistance level of $0.55, suggesting the potential to climb towards the second resistance level of $0.66 especially with a ‘Buy’ signal from the MACD and the 10-day Simple Moving Average resting at $0.84. The recommendation by these technical indicators leans towards a positive outlook, hinting that we could see a near-term upswing in Ondo’s price. Investors might interpret these signs as an affirmation of underlying strength in Ondo’s price action, offering a chance for incremental gains as confidence grows among traders.
However, considering the nearest and second support levels at $0.26 and $0.0809 respectively, there’s an understanding that setbacks could push Ondo’s price down if it breaks below these thresholds. The fact that the current price is substantially above the nearest support implies room for downward movement without breaking the longer-term uptrend. In a scenario where selling pressure mounts, these support levels could be tested, providing a cautionary note for potential retracements. The neutrality advised by the RSI and Stochastic RSI Fast also reflects that the market may not have fully decided on Ondo’s direction, signaling room for volatility and a mixture of short-term risk and opportunity.
Conclusion
Following Bitcoin’s halving, attention shifts to low-cap altcoins like Choise.com (CHO), Manta Network, Arbitrum, Dymension, and Ondo, each poised for potential growth. CHO leads with innovative tokenomics and significant investor interest, suggesting a breakthrough into new market territories. Manta Network and Arbitrum are on the cusp of overcoming key resistance levels, signaling possible gains, while Dymension and Ondo offer strong technical indicators for upward trends. These altcoins represent promising opportunities for investors looking to diversify and capitalize on the next wave of crypto market movements.
Site: https://choise.ai/
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Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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