Blackrock’s latest strategic moves have sent ripples through the cryptocurrency market, with certain alternative coins positioning themselves for significant growth. As the bull run of 2024 gains momentum, investors are keenly watching these emerging opportunities.
This article highlights five such coins that are expected to capitalize on Blackrock’s actions and potentially deliver impressive returns. For cryptocurrency enthusiasts and investors looking to expand their portfolios with high-potential options, understanding these coins’ trajectories could be crucial for their investment strategies.
What you'll learn 👉
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Polygon Crypto Price Movement and Analysis
MATIC, a ZK, Ethereum Layer 2 solution, presents a mixed performance, with a current price range between $0.64 and $0.77. In the last week, MATIC’s value rose by 6.22%, showing a rebound, but the monthly view tells a different story with a sharp drop of 31.45%.
The coin’s movement over the past 6 months paints a positive picture overall, showing a 15.65% gain. The latest trends suggest a more corrective move, with key indicators like the RSI close to 47.64, signaling neither overbought nor oversold conditions.
MATIC’s future price path could swing either way, with potential growth indicated by the recent weekly momentum versus the bearish sentiment shown by the monthly downturn.
Breaking past $0.83 might open the door towards the second resistance level at $0.96, but falling below the support level of $0.56 could see it test $0.43. Blending cautious optimism with a realist’s view, MATIC investors should be prepared for both scenarios, knowing market dynamics could prompt significant shifts.
Ondo Crypto Price Overview: Slow Recovery or Volatile Downtrend?
Ondo (ONDO) is currently priced between $0.64 and $1.03, with a significant increase over the past six months in the Decentralized Finance (DeFi) sector. The one-week price change shows a modest uptick of 3.81%, while the one-month price change indicates a decline of 9.26%.
The price movements seem to be in a corrective phase, as the Relative Strength Index (RSI) at 36.70 suggests a lack of strong momentum, and the MACD Level is nearly flat at -0.01.
Looking ahead, ONDO faces a delicate balance. Optimistic predictions hinge on breaking the nearest resistance at $1.24, potentially leading to a push towards the second resistance level of $1.63.
Caution is advisable since if the price falls, it could find support at $0.47 or even drop to the second support level at $0.09. The coin’s performance will likely be influenced by broader market trends, investor sentiment, and the evolving landscape of Decentralized Finance.
Avalanche Price Analysis: Movement and Market Position
Avalanche (AVAX) has seen a lot of up and down movement in recent times, notably influenced by the dynamics of Decentralized Finance (DeFi). In the past week, there’s been a slight increase in its value by 1.45%.
However, looking at the last month tells a different story, with a decrease of 36.64%. Over a longer period, six months to be exact, AVAX has jumped by 222.19%. Its current price fluctuates between $33.16 and $39.94. The way it moves now suggests it is not in a strong trend but rather in a bit of a back-and-forth.
AVAX might face challenges or could continue growing within the DeFi sector. It could go up towards the nearest resistance at $42.73. If it gets past that, the next challenge is $49.51. On the other side, if it falls, it might drop near to $29.19, or potentially even to $22.41.
While the 100-day average is above the current price, suggesting some investors might think it’s underpriced, the RSI and Stochastic don’t show it being clearly oversold or overbought. This could mean AVAX’s future price could go either way, increasing or decreasing, heavily impacted by DeFi trends.
NEAR Protocol Price Analysis: Current Trends and Movement
NEAR Protocol has seen a significant rise in the past week, climbing approximately 29%. Over the last month, the price dipped slightly by around 4%, but looking at the past six months, there’s an impressive increase of more than 500%.
NEAR is currently trading between $5.41 and $6.99, showing energetic movements. The price action is hinting at an impulsive trend as it attempts to break the current resistance level at $7.53.
Considering NEAR’s recent momentum, it might touch $7.53 soon. However, if the trend reverses, it could retest the support at $4.37. While the 10-day moving average suggests a possible decline, the 100-day average aligns with the current price range, indicating steadiness.
The RSI and stochastic point to NEAR being somewhat overbought, which could mean a slight correction is on the horizon. NEAR’s journey towards the second resistance at $9.11 could face hurdles, but the increase over the last six months shows potential for growth even with natural market pullbacks.
Conclusion
As the bull run of 2024 progresses, altcoins like MATIC, ONDO, AVAX, and NEAR are gaining attention. However, these coins may not see major short-term gains. The spotlight is on BlastUP, which stands out due to its unique concept and its place in the Blast ecosystem.
This coin is seen to hold the greatest potential for growth. The benefits from the recent Blackrock move suggest a more promising outlook for BlastUP when compared to other mentioned projects.
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