As a seasoned crypto investor with battle scars from numerous bull and bear markets, I find myself intrigued by the recent developments in the global crypto landscape. The impending policy shift in Russia and America’s exploration of Bitcoin reserves have me believing that we might be on the brink of another bull run.
Major shifts are imminent as Russia ventures into the digital currency realm. Initially, Russia enforced stringent rules, prohibiting crypto transactions and overseeing exchanges. Lately, though, signs point towards a change in policy, with the government planning to pass a law on cryptocurrency transactions and targeting to initiate global crypto transactions by the end of the year. On the other hand, America is considering accumulating Bitcoin reserves, while a potential president Trump candidate has a pro-crypto stance. These advancements could spark a fresh bull run. Let’s examine which coins are likely to experience significant growth as a result. Investigate further to discover the top contenders destined for a rise.
Arbitrum (ARB)
Currently, Arbitrum’s price ranges from around $0.65 to $0.80, suggesting it may have room to grow even with the recent bear market influence. The nearest resistance level is at $0.89, while support remains strong at $0.58. Short-term trends show a 10-day moving average of approximately $0.70 and a 100-day moving average of $0.72, hinting that the current market conditions could present an opportunity. The Relative Strength Index (RSI) stands at 35.89, and the Stochastic is 9.52, suggesting the market might be oversold and ready for a rebound. If bulls manage to surpass the $0.89 resistance level, Arbitrum could potentially reach $1.05, representing a 35% increase. Although it has experienced a 60% drop over six months, there’s a notable potential for a future bullish recovery.
At the moment, Cardano (ADA) is fluctuating between approximately $0.3757 and $0.4447, presenting possibilities for growth. The underlying support at $0.3443 remains robust, paving the way for an upward trend. However, ADA has encountered resistance at around $0.4823. Despite this, it has still recorded a 4% increase over the past month, demonstrating its resilience. Even though there’s been a nearly 20% drop in its value over the past six months, investors remain optimistic. If the bulls can overcome the resistance, ADA might target the secondary resistance at $0.5513, potentially surging by more than 20%. The mood among traders is cautiously optimistic as they look for indications of a trend reversal.
Uniswap (UNI)
The price of Uniswap (UNI) is currently ranging from $6.99 to $8.11, making it an intriguing option for investors. Although its value has dropped by more than 14% in the last month, the low Relative Strength Index (RSI) of 35.60 and Stochastic reading of 7.88 imply that UNI might be undervalued, suggesting a potential recovery. The next resistance point is at $8.69, with solid support at $6.46. If the bulls regain control, UNI could climb to its second resistance at $9.81, representing a possible surge of around 40%. However, there’s also a chance for further bearish trends towards the second support level at $5.35. For now, these technical indicators offer optimism for a positive change in direction.
As someone who has been closely following the crypto market for several years now, I find myself cautiously optimistic about Polygon (MATIC) at the moment. Despite its recent downward movement, trading between $0.47 and $0.55, there are promising signs that suggest potential growth in the near future.
Notcoin (NOT)
The digital currency Notcoin (NOT) is presently trading between $0.0115 and $0.0158. Despite some recent difficulties, it has potential for growth due to its strong long-term prospects. Over the past week, its value has dropped by around 20%, and over the last month by nearly 6%. However, its remarkable six-month growth of over 550% indicates a robust long-term outlook. The closest barrier for its upward movement is at $0.0184, and if it breaks this resistance, Notcoin could reach a new level at around $0.0227 – representing an increase of more than 40% from its current range. At the moment, the market stands at a critical juncture, and the upcoming days might see a positive trend if the bulls regain their strength. The Relative Strength Index is currently 46.3, and the Moving Average Convergence Divergence (MACD) suggests a slightly bearish market.
Conclusion
For the year 2024, a bull run in cryptocurrency is being driven by growing worldwide interest in digital assets. The shifting policies of countries like Russia towards accepting cryptocurrency payments and America’s plans for Bitcoin reserves hint at an impending bull market. Coins to keep an eye on include Arbitrum (ARB), which, despite temporary bearishness, has strong signs of a recovery. Cardano (ADA) demonstrates resilience and the ability to break through resistance levels. Uniswap (UNI) and Polygon (MATIC) both show encouraging signs of recovery with possible returns. Notcoin (NOT), despite recent downward trends, suggests significant long-term growth potential. These changes might offer considerable opportunities in the crypto market.
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2024-07-30 22:37