Investors in the crypto market are slowly changing their strategies for bullish. Is it worth investing in such positions as ETH, XTZ and LINK?
The Bitcoin (BTC) halving, which is coming in 23 days’, is on the lips of investors in recent weeks and they are counting on entering the market with an upward trend sentiment, as was the case in the two previous BTC halvings.
Although Bitcoin is still the leader, there are several Altcoins that are worth a closer look. I introduce you to the 3 best cryptocurrencies that offer the possibility of short-term investments with success.
After repeatedly resisting $176,000, Ether (ETH) broke out strong of the resistance on 18 April. This is a positive sign because it shows that “bullish” investors are willing to buy everything at a higher level.
Both the 10-day exponential moving average EMA ($169) and the 20-day simple moving average SMA ($158) are falling, and RSI has been recording positive transactions for several days. This suggests that bulls have an advantage. Previous resistance of $176,100 can now act as strong support. If this level of ETH/USD is maintained, it is likely to rise above $189,400.
XTZ exceeded a slight resistance of $2.182 on April 18th. This shows us that there is demand at higher levels. “Bears” investors are trying to delay the fall of $2.407.
“Bulls” didn’t give up anyway, the previous resistance of $2.181 can now act as support. Both moving averages are falling, and the Relative Strength Index (RSI) has been positive for several days, which only shows us that investors are waiting for price increases. Investors in the bull market are currently leading the way. The short-term upward trend is likely to be above $2.407.
LINK scaled above the 61.8% Fibonacci retracement point of $3,5948, which is a bullish signal.
But “bears” won’t give up without a fight. They are currently trying to bring LINK/USD back below $3.5948. If this is successful, Linkchain may fall back to a 10-day EMA, which will probably work as support.
Since 31 March, “bear” investors have not been able to keep the price below the 10-day EMA. This shows that “bulls” are willing to buy on inheritances. With both exponential averages (EMA and SMA) and a positive RSI, the bulls have the advantage.
Altcoins — untapped potential
Let’s remember that in the world the Bitcoin crypto is not the only cryptocurrency available on the market. Altcoins occupy 60% of the crypto market. The differences between Bitcoins and Altcoins can be seen during stock market speculation. A good example of this is the dependence – when the price of BTC increases rapidly, ALT prices fall. Apart from the leader among the cryptos, it is also worth to take an interest in other cryptos, because they have the potential for a good investment.