Top Altcoins To Buy January: ETC, DOGE, XAI

The cryptocurrency market is buzzing with lifetime opportunities among altcoins. Ethereum emerged as the obvious winner of the decision by the Securities and Exchange Commission (SEC) to approve 11 spot BTC ETFs. The smart contracts token after increasing by 6.5% in the last 24 hours is trading at $2,600 compared to Bitcoin’s 2.6% move to $46,631. If the momentum backing the top altcoins continues, it would be prudent to diversify crypto portfolios with tokens such as Ethereum Classic (ETC) XAI, and Dogecoin (DOGE).

Read also: Bitcoin Price Prediction Post Spot ETF Approval, Is $60k Target Possible For BTC?

Ethereum Classic Price Towers Above Top Altcoins To Buy

Ethereum Classic price performance has left many surprised, exploding by more than 40% to highs at $32. This crypto has always been an underdog compared to crypto majors like Ethereum (ETH), XRP, Solana (SOL), and more.

The latest ballistic move is commendable and would continue to make ETC attractive to investors who are eager to capitalize on price movements post-spot BTC ETF approval.

Traders may want to consider locking the gains amid signs of the uptrend cooling off due to resistance at $32 (yellow band). ETC is trading slightly below $30, which implies that a daily candle close under this level could result in a larger correction.

The grey band below $25 is a local support which could serve as a springboard for another upswing above $30.

Should Ethereum Classic price respect support at $30 and coupled with a buy signal from the Moving Average Convergence Divergence (MACD) indicator, the short-term outlook would be enhanced for another major breakout to targets $40 and $50. This move would also depend on the investors’ reaction to the fear of missing out (FOMO) buzz going around the market.

Xai Price Prediction: Is The Binance Listing Effect In Play?

Xai, a token built to support real-world economies to pave the way for the next generation of video games, exploded by 40% in 24 hours to trade at $0.65. Although relatively new, XAI has been privileged to have been listed on the largest exchange by trading volume Binance.

This exposure to a wide audience of users might continue to impact Xai price, especially with the crypto market generally trending upwards following the ETF nod.

Despite the lack of enough microdata to analyze the future of XAI, traders could anticipate resistance at $0.7 and $0.75, respectively.

The 20 EMA is in line to keep Xai buoyant if declines start overwhelming the bulls. The 50 EMA at $0.6 will also come in handy in case losses were to intensify considering XAI dived to $0.45 on Wednesday.

Can This Buy Signal Blast Dogecoin Price Past $0.l1?

Dogecoin price like many of its peers (top altcoins) is nurturing a bullish theory. This new positive outlook comes after the leading meme coin bounced off support at $0.075, reinforced by the presence of the 200-day Exponential Moving Average (EMA) (in purple).

Bulls strengthened their grip as investors bought crypto tokens speculating on the impact of the spot BTC ETFs. With the renewed interest in DOGE, the price climbed to test resistance at $0.085 which must be defeated to allow for subsequent movement targeting the December peak at $0.11.

A potential buy signal could manifest if the MACD line in blue crosses above the signal line. Since the momentum indicator holds below the neutral line, recovery into the positive region would also signify rising buying pressure.

The next few days would determine how the crypto market trades in Q1. Will investors keep the optimism up despite the approval of the ETF? Will the demand from institutional investors increase to drive prices? If these questions are answered affirmatively, then investors can seek more exposure, buckle up, and enjoy the ride to the moon.

Related Articles