Altcoins
This $120M Altcoin Soars 300% in Just a Few Days! A 10X Surge on the Brink of the Abyss?
The cryptocurrency market has seen weak price action and has been in a neutral price trend for the past two days. Despite the launch of the Ethereum ETF, the ETH Price fell more than 1.5% in the last day, indicating mixed sentiment.
However, mid- and small-cap altcoins have attracted considerable attention in the cryptocurrency space in recent days, highlighting a growing bullish sentiment for these tokens ahead of the impending bull market.
Thinking of investing in this small-cap altcoin for the upcoming cryptocurrency rally? Dive in, because in this article, we’ve covered market sentiment, price analysis, and possible outlook for the Ultima crypto token.
ULTIMA price shows increased bullish action:
Ultima cryptocurrency has successfully retested its crucial support level of $2,048. This has led to it adding 14.19% to its portfolio in the past day and 87.76% in the past week. Furthermore, it has increased by over 173% in the past 30 days and has a YTD return of 69.47%.
TradingView: ULTIMA/USDT
With a trading price of $8,275.6, a circulating supply of 15,339, and a maximum supply of 100,000 ULTIMA tokens, the ULTIMA cryptocurrency has secured the 315th position with a market cap of $128.57 million.
The Moving Average Convergence Divergence (MACD) has shown a steady increase in the green histogram with its averages recording a clear uptrend. This highlights a growing bullish sentiment in the cryptocurrency space.
The technical indicator, RSI, continues to trade above its overbought range. Furthermore, its average trendline is on the verge of breaking out of the overbought range, suggesting a positive outlook for the altcoin this week.
How high will the price of ULTIMA be?
If the market continues to trade under the influence of bulls, ULTIMA price will test its resistance level of $9,310. Holding the price at that level will set the stage for this altcoin to prepare to test its upper resistance level of $10,800 in the coming weeks.
On the contrary, if a trend reversal occurs, the price of ULTIMA coin will lose momentum and will fall towards its support level of $7,7432.5. Furthermore, if bears continue to dominate the market, it will prepare to test its lower support level of $6,240.