Altcoins
Here is the outlook for the price of Toncoin (TON), Avalanche (AVAX) and Dogecoin (DOGE)
Bitcoin remains stuck within a range, failing to move above $64,500 after a brief recovery from local lows of $56,500. With this, the cryptocurrency markets have turned slightly bullish as traders. Additionally, altcoins in the top 10 briefly trail the star cryptocurrency, while others are preparing for several price actions.
Toncoin (TON) Targets a 20% rise.
The price of toncoin maintained a consolidated downward trend for quite a long period before triggering a massive recovery, reaching new highs above $7.5. Although the bears did everything to squeeze profits, the bulls defended the support, triggering a new rally. Currently, the price is trading within a tight range, indicating that a rise in value may be imminent.
The price has bounced from the 0.5 FIB levels and is trading within a range bound for a couple of days. The MACD is about to undergo a bullish crossover, which suggests more buying pressure with a slight increase in buying volume. Therefore, the price of TON is expected to rise and reach the 1 FIB level, near $8, in the next few days.
Avalanche (AVAX) could reach $44 this week
THE Avalanche price has been trading within predetermined resistance and support levels ever since it made highs above $50 initially and later at $64. After the massive pullback, the price is consolidating along the lower support, which suggests the behavior slow of the bulls. However, it is believed that AVAX price will consolidate within a narrow range for a while and trigger a strong recovery towards a higher range.
The Bollinger bands have converged to a large extent and are going parallel to each other after exhibiting extreme variations. Furthermore, the volume also dropped and the bears had considerable dominance. The middle Bollinger bands offer a strong base that could further trigger a strong breakout with an aim to initially reach $50 and subsequently target higher levels.
Dogecoin (DOGE) in consolidation, expected to rise by 25%.
THE Dogecoin price in the last days of the first quarter it faced a massive recovery, which attracted great attention from traders. Even though the bears tried their best to bring the levels back to the initial levels, the bulls rebounded finely to mark new yearly highs. Since then, the price has maintained a strong downward trend, which is believed to have been broken by the latest market trend.
DOGE bulls have held the price at $0.153, negating the bearish impact and are preparing to trigger a new rally. The price is consolidating within a narrow range and the outcome is expected to be a bearish breakout above the local resistance. The RSI on the 4-hour chart has triggered a bullish reversal, which indicates that the price may soon break out of the barrier and reach the immediate resistance at $0.1651. Here, the bulls might encounter some hurdles, but after showing some consolidation, a rise to $0.18 might be imminent.
Also check: Altcoins Show Strength as Bitcoin Stuck in a Range: WLD, NEAR, RNDR Price Close to Triggering New Rally