With an element of surprise in the cryptosphere, Bitcoin is having quite a roller-coaster ride this week. It has been making efforts to forge past $30,000, however, critical technical factors are hinting at more potential dips in the near and medium terms. But let’s not forget, the storm often brings a rainbow. On DEXTools, there are cryptocurrencies that are seeing impressive gains today.
According to TradersWeekly analysis, just days after a brief peaceful interval amidst the ongoing financial tempest, Bitcoin remained static. Attempting to hold the fort at around $26,000, it exhibited brief optimism, rising above $28,000. However, the technicals lurched into a bearish whirlpool again. With signals like the MACD, RSI, and Stochastic Oscillator pointing downwards, the investors’ zeal seems to be fading.
In some respects, these price declines could foreshadow various future challenges for Bitcoin, with expectations of it possibly dipping below $24,000. The number of Bitcoin whale accounts seems to be declining, suggesting dwindling interest at the current levels. The recent SEC directive to reassess its decision about a Bitcoin ETF might serve as a lifeline for Bitcoin, potentially hooking up more institutional capital, leading to new market highs.
But let’s shift our gaze beyond Bitcoin’s struggling journey and dive into the less trodden path of lesser-known cryptocurrencies. Outperforming their more popular peers are the underdog cryptos like XELON, PMR, and EMOTI, that have risen to be the top gainers on DEXTools today.
Crushing market dullness, XELON’s price shows remarkable resilience, soaring 593.58%. Matching its current strength with the 20-period EMA and the 50-period EMA, the coin reflects a prevailing bullish trend. On the other hand, PMR, following an impressive rally, shows signs of price pullback, however, it continues to show potential for a surge if supported by strong technical indicators.
Lastly, but by no means least, EMOTI, has been triumphant with a staggering increase of 1,392.06%. Even with a slight retracement, it’s evident the bulls aren’t retreating anytime soon. The RSI readings and the MACD histogram further echo the possibility of a continuation in the ascent of EMOTI.
Relishing the euphoria surrounding these lesser-known crypto coins, analysts at Cryptonews.com have identified a few promising presale opportunities. These are expected to offer high returns, considering their efficient management teams and unique blockchain concepts.
However, like any other investment, it’s always advisable for potential crypto investors to conduct due diligence and weigh the possibility of elevated volatility in the global crypto market. Diversification is key and staying informed about market trends can certainly help make sound investment decisions.
Source: Cryptonews
