Published 11 mins ago
The increasing adoption of cryptocurrencies amid the U.S. bank crisis has brought the recovery sentiment back to the crypto market. While the overall market has shown significant growth in the last two weeks, today we’ll focus on top NFT-related tokens to determine their future growth potential.
Apecoin(APE)
Source- Tradingview
Over the past two weeks, the Apecoin price has rebounded twice from the $4.5 and $4 levels creating a short consolidation phase. However, as the overall market is bullish, the range movement can be considered a temporary break period before the uptrend resumes.
By the press time, the Ape Coin price trades at $4.09 with an intraday loss of 0.94%.
Thus, a potential breakout of $4.5 resistance will release the trapped bullish momentum and encourage the price for further rally. The post-breakout rally may surge the Ape price 10% higher to hit the psychological resistance of $5
Stacks(STX)
Source- Tradingview
Over the last five, the Stacks coin price shows multiple higher-price rejections at $1.3 resistance indicating the exhausted bullish. These rejection candles project an upcoming correction that could check STX price stability at higher prices.
As per the Fibonacci retracement level, the STX price could tumble 10% to revisit the combined support of $1 and 0.236 FIB level. This support level is strong enough to recuperate the bullish momentum prolonging the ongoing uptrend. Anyhow a breakout below $1 will accelerate bullish momentum and plug the price to $0.85 at 0.368 FIB level, followed by $0.7 support.
By the press time, the Stacks coin price traders at the $1.34 mark with an intraday gain of 0.845
Immutable(IMX)
Source- Tradingview
On March 17th, the Immutable coin price gave a massive breakout from the $1.3-1.25 neckline resistance of the cup and handle pattern. However, the bullish rally peaked at the $1.59 mark and reverted immediately to retest the breached resistance as potential support.
As of now, the IMX price trades at the $1.3 mark with an intraday gain of 3.31%. If buyers manage to hold above the neckline support and the potential rally could rise to the $2 psychological mark.
On a contrary note, a daily candle closing below $125 will underline the bullish thesis.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/top-3-nft-tokens-to-boost-portfolio-amid-ongoing-recovery/