The sudden arrest of a key figure has shaken the Toncoin and Notcoin communities. Investors and enthusiasts are anxiously watching to see how it will affect the market. Meanwhile, attention is shifting to three other altcoins that could be set for significant growth. Discover which coins might lead the next wave in the crypto world.
Toncoin Shows Bearish Trends but Holds Long-Term Potential
Any further regulatory actions related to Telegram or the broader cryptocurrency environment could impact Toncoin’s price. If the support for Pavel Durov and Telegram continues to attract positive attention and investment, Toncoin could experience upward price momentum. However, it is essential to monitor market sentiment and regulatory developments for a more accurate prediction.
Toncoin is currently trading between $4.96 and $6.82, showing a decline in the past week and month. The bears are in control, as reflected by the 17.41% drop over the week and 15.24% over the month. Short-term indicators like the 10-day and 100-day moving averages, at $5.68 and $6.29 respectively, signal caution. However, its Relative Strength Index (RSI) of 44.01 and Stochastic level of 18.33 suggest it might be oversold. The nearest support level is at $4.15, while the resistance lies at $7.88 and $9.75. If the bulls can reclaim momentum, a potential rise to the second resistance level could mark a significant gain of about 65%.
Notcoin Tumbles: Bears Tighten Grip Despite Promising Growth Potential
Given the current lack of widespread attention and support as Toncoin, Notcoin’s price is likely to be less volatile and influenced by broader market trends rather than specific events related to Telegram. It might see gradual changes based on its own adoption and market developments.
Notcoin is currently priced between $0.0081 and $0.0119. With a recent one-month drop of nearly 34% and a six-month surge over 375%, the price movement shows significant volatility. The current price sits below the 10-day and 100-day moving averages of $0.0096 and $0.0106, indicating a bearish trend. The nearest resistance level at $0.0141 suggests potential growth of about 40% if overcome; a more ambitious target would be $0.0179, which represents a potential jump of 100% from current levels. While bears appear to dominate for now, significant room for growth exists if bullish momentum returns.
Crypto Bulls Hold Ground as Artificial Superintelligence Alliance (FET) Eyes Growth
The Artificial Superintelligence Alliance (FET) is currently trading between $0.98 and $1.57. Recent performance has been impressive, with a notable 64.38% surge in just one week. This rapid climb indicates strong short-term potential. FET’s price above its 10-day average of $1.34 suggests positive momentum and room for further growth. If it surpasses the resistance at $1.78, it could target $2.38, representing a potential increase of over 50%. Additionally, the solid support level at $0.59 provides a safety net, ensuring stability. Overall, FET’s indicators reflect a bullish sentiment with promising prospects for continued upward movement.
AVAX: Positioned for Potential Growth Amid Market Dynamics
Avalanche (AVAX) has been navigating between $22.26 and $29.82, demonstrating resilience in a mixed market. With a recent 30% rise over the past week, AVAX has shown positive short-term momentum. Although it has faced some challenges this month and over the past six months, the current Relative Strength Index of 52.80 suggests balanced momentum. If bullish momentum continues, AVAX could break through the immediate resistance at $32.69 and aim for $40.24, a potential 35% increase from its upper range. The strong support at $17.58 offers a solid foundation, making AVAX a coin to watch for potential growth.
Polygon (MATIC): On the Cusp of a Breakout
Polygon (MATIC) has been trading between $0.43 and $0.60, showing positive signs but facing resistance at $0.68. With a recent increase of nearly thirty percent, MATIC demonstrates strong short-term potential. Although it has experienced some pressure over the past six months, key resistance at $0.68 presents an opportunity for growth. If MATIC manages to break above this level, it could see gains of up to 30%, targeting the next resistance level at $0.85. While current indicators suggest a cautious outlook, a successful breakout could lead to significant upward momentum.
Conclusion
The founder’s arrest puts Toncoin and Notcoin in a tough spot. Toncoin may face setbacks, but resilience is possible. Notcoin could experience increased scrutiny and volatility. Watching Fetch (FET), Avalanche (AVAX), and Polygon (MATIC) is essential. They show potential for growth amid current market trends. These altcoins could see significant price movements in the ongoing bull run of 2024.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2024/08/whats-next-for-toncoin-and-notcoin-after-the-founders-arrest-also-watch-3-altcoins-poised-for-big-moves