Altcoins
Altcoins on the Foot of a Huge Explosion: WLD, AR, INJ Prices Could Surge by 20% in the Next Few Days
Crypto markets seem to have been taken over by the bulls as major coins surged above their crucial resistance zone. Bitcoin surged above $65,000, while Ethereum was above $3,500 and XRP, which has been passive for quite a while, surged over 40% in the past two days to hit $0.6. The uptrend has been captured in most altcoins as Worldcoin (WLD), Arweave (AR) and Injective (INJ) are leading the rally. Here’s what to expect for these coins in the coming days.
Worldcoin (WLD) Price Analysis
THE Worldcoin Price has been trading inside a falling wedge since marking a fresh ATH near $12 in the final days of Q1 2024. The recent price action has helped the price breach the upper resistance of the wedge, breaking above the crucial resistance zone between $2.21 and $2.39. Market sentiments have changed, but technicals suggest that the bulls may remain passive for a while, which could provide some scope for a bearish pullback.
The price broke out of the wedge on a significant increase in volume, but the current volume suggests that the bulls have stepped back. Meanwhile, the RSI is about to reach the upper threshold, which may attract bearish forces. Also, the DMI has undergone a bullish crossover, but the decline in ADX suggests that the rally may remain consolidated above the gains. Therefore, WLD price is expected to maintain a horizontal consolidation between $3 and $3.3 and trigger a fresh move to $4.4 during the next bullish move.
Arweave (AR) Price Analysis
Arweave had formed a solid base around $25, which helped the rally trigger a bounce during the bearish attack. Mt. Gox and German Terror forced the price to drop below $20. However, the recent price action has brought the altcoin inside the bullish range and increased the expectation of maintaining a decent uptrend for a few more days.
AR price has reached a major resistance around $30-$31.5 which could act as a strong base once breached. The buying volume is slowly increasing which could keep the bullish hopes alive for the rally. Moreover, the supertrend has just fired a buy signal indicating a sharp trend reversal. Therefore, AR price seems ready to maintain a healthy uptrend and surge above $40. However, if the bulls maintain a similar trend, marking fresh highs above $50 might not be a chore for the bulls.
Injection Price Analysis (INJ)
The INJ price has shown sharp strength since the beginning of the year and hence the recent reversal is expected to resume a nice uptrend thereafter. Bears have swallowed the rally to a large extent but the recent price action suggests that bulls have regained their dominance. Hence, INJ price is expected to maintain a strong uptrend with bearish interference on the decline.
INJ price has risen above the lower support zone and has recorded consecutive bullish candles. Although the volume is below the required levels, the OBV is maintaining a steep uptrend. Also, the lead span B of the Ichimoku cloud is moving towards the lead span A and a healthy cross-over indicates the start of a new uptrend. However, INJ price may be out of the reach of the bears once it secures the resistance zone between $30.77 and $32.12, which seems to be on the horizon.