Altcoins
Altcoin Hidden Gems That Can Make Profits in July
The cryptocurrency market is filled with numerous digital assets, so it’s no surprise that many promising altcoins remain under the radar.
BeInCrypto presents three undervalued assets that stand out in their respective categories.
MANTRA (OM) – the loser RWA
MANTRA is a Level-1 Safety Real World Asset (RWA) Blockchain. Among many other features, the most notable is the ability to provide a permissionless network for permissioned applications.
In the first two weeks of June, the altcoin saw a notable growth of 55%, reaching just under $1.04. However, it failed to surpass this level and suffered a massive decline, erasing all the gains made.
Despite this setback, OM price has maintained a crucial support level at $0.64, which has remained steady for three and a half months. This support level gives OM price a chance to bounce, especially since the Relative Strength Index (RSI) is approaching bullish territory.
To know more: How to invest in real world cryptocurrencies (RWA)?
OM Price Analysis. Source: TradingView
However, if this support is lost, MANTRA investors could suffer substantial losses. The price of OM could fall below $0.50, erasing half of the profits made at the end of March.
Wemix (WEMIX) — Blockchain-based gaming platform
While Wemix price hasn’t had an impressive run over the past month, gaining only 7%, it still presents a bullish opportunity. In the last week alone, the altcoin has increased by more than 35% to settle at $1.38.
WEMIX has broken above the crucial resistance at $1.38, a level that has been tested as support in the past. Flipping this resistance into support will boost Wemix’s rally, potentially sending it towards $2.00 and pushing the altcoin into consolidation.
To know more: WEMIX3.0 Explained: A Guide to the Borderless Web3 Ecosystem
On the other hand, if investors decide to sell their WEMIX to book profits on their holdings, the price could take a hit. The most likely outcome will be a collapse to $0.98, invalidating the bullish thesis and erasing all the gains recorded in June.
Raydium (RAY) — a Ray of Liquidity
Raydium price has performed surprisingly well despite broader, largely negative market signals. Moving between $1.82 and $1.45 over the past three and a half months, the altcoin is now looking for a breakout.
The Moving Average Convergence Divergence (MACD) indicator has shown a bullish crossover over the past three days. The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. Analyzing the convergence and divergence of these moving averages helps identify potential buy and sell signals.
Based on this, RADIUS is looking at a potential breakout of the consolidation zone. Upward momentum would push the altcoin to $1.99, which would help break this barrier as well.
To know more: What is raydium (RAY)
But if the breakout fails and Raydium price remains consolidated, the sideways momentum will continue, which can invalidate the bullish thesis.
Disclaimer
In line with the Trust Project guidelines, this article on price analysis is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your research and consult a professional before making any financial decisions. Please note that our Terms and conditions, Privacy PolicyAND Disclaimers They have been updated.