2 Trending Altcoins To Hold Targeting 100X Profit Post Bitcoin Halving

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As a seasoned crypto investor with a keen eye for market trends, I believe that the recent Bitcoin halving may not have had an immediate impact on the market as expected, but the long-term outlook remains promising. The anticipated supply crunch could significantly influence the bull run, not only for Bitcoin but also for key altcoins like Ethereum (ETH) and Dogecoin (DOGE).

In contrast to previous bitcoin halving events, the initial effects didn’t live up to expectations. Yet, dedicated crypto investors keep their eyes on the horizon, considering the potential consequences of the halving in the long term. The predicted shortage of new coins entering circulation could fuel price increases not only for Bitcoin but also significant altcoins like Ethereum (ETH) and Dogecoin (DOGE).

Observing the crypto market recently, I notice a growing sense of unease among investors. Despite anticipation for significant gains later in the year, there’s increasing doubt cast over the market. The sea of red numbers causes concern for many participants. However, some view this volatility as an opportunity to practice Dollar Cost Averaging (DCA) and invest in altcoins with potential 100X profitability.

I’ve noticed that Bitcoin’s price is currently holding steady around $64,542, having retreated from its weekly high of over $67,000. Ethereum, on the other hand, remains below the $3,200 mark. The altcoins have been hit the hardest by these headwinds, with several tokens experiencing significant losses exceeding ten percent.

In the current volatile market, carefully selecting altcoins to invest in for the long term can yield favorable results.

1. Ethereum (ETH) Tops The List Of Altcoins To Hold

In the first quarter, there was growing enthusiasm for an Ethereum Exchange-traded fund (ETF) as the SEC gave its approval to several Bitcoin ETF proposals.

Multiple prospective ETH ETF providers have applied for US regulatory approval to launch their products. The optimistic outlook towards Ethereum has grown substantially, as analysts foresee a comparable effect on Ethereum’s price as the BTC ETF had on Bitcoin, which reached an all-time high of $73,837 in March according to CoinGecko.

Based on recent news from Reuters, there’s a possibility that the SEC might reject Ethereum ETF proposals. This is indicated by the unwillingness of ETF issuers and related firms to engage in meetings with the regulatory body.

Nine different companies, such as VanEck and ARK Investment Management, have submitted applications to the SEC for listing Ethereum Exchange-Traded Funds (ETFs). These types of ETFs mirror the real-time value of Ethereum.

I’ve noticed that the Money Flow Index (MFI) for Ethereum is sitting beneath the 40 threshold. This implies that more funds are leaving the Ethereum market than entering it, adding to the downward pressure on the price. At present, the price hovers 24% below its previous peak of $4,089 in 2024. Moreover, Ethereum is also positioned beneath two significant bullish indicators: the 20-day Exponential Moving Average (EMA) and the 50-day EMA. These are depicted by the blue and red lines on the chart.

2 Trending Altcoins To Hold Targeting 100X Profit Post Bitcoin Halving

If Ethereum’s price starts to pick up speed, the correction could become profitable. Once Ethereum breaks past the upper trendline of the falling wedge pattern, traders might be enticed to purchase ETH in anticipation of a trend reversal, potentially reaching the $4,000 threshold.

2. Dogecoin (DOGE)

I’ve noticed an impressive increase in Dogecoin’s trading activity lately. The volume has jumped by 10%, reaching a massive $1.38 billion. Although its price dipped, the surge was still noteworthy. With a market capitalization ranking us as the 8th largest cryptocurrency, Dogecoin now boasts a market value of approximately $21.53 billion.

I’ve noticed some significant fluctuations in Dogecoin’s value over the last week. The price bounced between $0.14 and $0.16, leading to a near 2% price rise.

As an observer, I’ve noticed that Dogecoin’s value staying above $0.14 has sparked increasing excitement among investors. This stability could potentially set the stage for a significant upward trend, pushing the price closer to the $0.8 mark. Reaching this level might then create an opportunity for Dogecoin to breach the $1.00 threshold in the near future.

Instead of moving upward, Dogecoin’s bearish tendencies might pull it down to the $0.14 support level. If these negative trends continue, the coin could dip even lower, potentially hitting a low of $0.11 within the next few weeks.

2 Trending Altcoins To Hold Targeting 100X Profit Post Bitcoin Halving

I’ve noticed an extended spell of volatility in Dogecoin’s daily technical indicators as it bounces around within a narrow trading band. The upper Bollinger Band hovers at $0.2054, while the lower one signals a level of support at $0.132. This indicates that Dogecoin is undergoing considerable price fluctuations. Furthermore, the Relative Strength Index (RSI) currently stands at 41.98, suggesting that the asset is neutral and not overbought or oversold at the moment.

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2024-04-25 22:44