- NEO’s overbought standing may drive the worth down, whereas LTO’s worth may commerce between $0.23 and $0.25.
- TON’s worth may pull again to $6.11 however the Fibonacci indicator recommended an increase to $9.56.
- With growing shopping for momentum and cash move, ENA may soar to $1.50.
Within the final 24 hours, the entire crypto market capitalization jumped by 3.59% and hit an unimaginable $2.68 trillion. As anticipated, the costs of many cryptocurrencies elevated. Nonetheless, one notable remark was what number of altcoins rallied impressively throughout the identical interval.
For instance, Neo (NEO) jumped by 38.36%. Toncoin (TON) flipped Cardano (ADA) after its worth elevated by 27.92% to develop into the ninth most precious cryptocurrency.
LTO Community’s (LTO) worth elevated by 7.24% whereas its buying and selling quantity spiked, indicating excessive curiosity within the token. Just lately-launched Ethena (ENA) was one other token pumped as its worth rallied by 16.34%. Right here’s what led to the hikes from a technical perspective and the way far the costs can transfer.
NEO
NEO’s worth at press time was 21.47. On the 4-hour chart, a bullish engulfing candle appeared when the worth was at $15.09, indicating that the bears had no say within the worth motion. In the meantime, the Bollinger Bands (BB) confirmed excessive volatility across the token, such that the higher band tapped NEO because it approached $22.
A state of affairs like this means that NEO was overbought. Therefore, a retracement could possibly be subsequent. In a extremely bearish case, the worth of NEO may drop to $17.87. Nonetheless, indications from the Superior Oscillator (AO) revealed growing upward momentum for the token.
Ought to the momentum proceed to extend, then NEO may defy the bearish bias and climb to $25 within the brief time period.
TON
The TON/USD 4-hour chart defined how bulls banked on the $4.85 underlying to help and flip the resistance at $5.89. Thereafter, the worth rallied. Nonetheless, the Relative Power Index (RSI) confirmed that the token was overbought nevertheless it doesn’t appear to be bulls are able to let their guard down.
Moreover, the $0.786 Fibonacci degree was $6.11, indicating the nominal pullback TON may expertise. To the upside, the Fib ranges confirmed that TON may prolong to as excessive as $9.56 within the close to time period.
LTO
LTO flashed a purchase sign at $0.23 on April 8, in keeping with indications from the Supertrend. Moments later, the worth jumped to $0.27. However that hike was short-lived as the worth fell again to $0.25.
With this development, it would appear to be LTO’s hike could possibly be invalidated. This was additionally supported by the Transferring Common Convergence Divergence (MACD). Though the MACD studying was constructive, the 12 and 26 EMAs adopted the identical route, indicating that sellers have been conserving patrons on their toes.
Ought to this proceed, then LTO’s worth may decline to $0.23 or commerce sideways. Nonetheless, if the bullish momentum reappears, then the worth of the token may climb to $0.30.
ENA
ENA has been one of many best-performing property over the previous few days. Inside the final seven days, the worth of the token has elevated by 98.15%.
Between April 7 and eight, ENA’s worth erased a few of its features as the worth fell from $1.26 to $1.11. However bulls have been capable of spot vendor exhaustion and capitalize on it to drive the worth to $1.37.
Regardless of the rise, the RSI confirmed that bulls had sustained the shopping for momentum and that ENA was not but overbought. On this case, it signifies that the worth may proceed to understand, and reaching $1.50 was attainable within the brief time period.
The Cash Stream Index (MFI) on the 1-hour chart additionally strengthened the RSI alerts. At press time, the MFI was 75.11, suggesting stable capital move into the cryptocurrency. So long as liquidity continues to move into ENA, a worth improve seems possible.
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