27 Apr

Potential earnings for Harmony (ONE), Render (RNDR), Near Protocol (NEAR), dogwifhat (WIF), and Stellar Lumens (XLM) have been made possible by the shifting dynamics of the cryptocurrency market. 

Harmony (ONE) Achieves a New Peak

The volume of transactions made by ONE has successfully crossed $1 million. This indicates that the chain is seeing an increase in demand and utilization, which may help to drive up prices.

The altcoin appears to be moving in a descending wedge while writing, with a possible breakout from it within the next month. According to this pattern, ONE might therefore rise by more than 36% to reach the target of $0.034 and record a two-month high.

Based on an analysis of the Average Directional Index (ADX), there is a strong likelihood of this occurring. Given that it is above the 25.0 threshold and indicates the strength of the current trend, this indicator evaluates the strength of the active trend.

Leading the Meme Coin Market Storm is Dogwifhat (WIF)

WIF entered the picture and instantly put an end to the debate between PEPE and Solana meme coins, which were already vying for supremacy. The meme coin overtook PEPE to take the third spot as the largest meme coin globally, and it appears that this rise will continue in the upcoming month.

As of this writing, the meme currency is shown to be moving in an isosceles triangle. This pattern indicates that a breakout in WIF price is anticipated, which might push the meme currency as high as $4.8. This would be a 51% rise for dogwifhat, further solidifying its hegemony.

However, in the event that WIF holders decide to sell, the bottom trend line may lose support as well. The meme coin may thus fail to hold $2.5, with $2.0 serving as the next support level. That would essentially render the optimistic conclusion invalid.

Near Protocol (NEAR) Is Close to the Peak in 2024

The effect of the Bitcoin halving event, which is expected to drive up the value of altcoins, will be mostly leveraged by NEAR price. The altcoin is currently trading at $7.2 after just breaking over the $5.2 support level.

The altcoin is just a few inches away from the $8.8 to $5.2 61.8% Fibonacci Retracement. This level, which is marked at $7.4, is referred to as the bull market support floor. Regaining it would enable the NEAR price to increase and breach the $8.8 barrier, effectively posting a new 2024 high.

However, the 23.6% Fib line would also be lost if the altcoin drops to $6.0 or less. This might undermine the positive picture by making the altcoin susceptible to another correction.

AI-Powered Render (RNDR) Banks

In Q2, the hype around artificial intelligence (AI) is starting up again, and AI token prices are rising as a result. Rander is one of these tokens; it has been declining during the last month.

The price of RNDR could rise in response to growing interest in AI. It is expected that the price of RNDR will bounce off the $8.0 support level and maybe break and flip the $10.0 resistance level to surge towards the all-time high.

However, the RNDR price will rise to $6.8 if the $8.0 support is lost. Should it collapse, the possibility for a bullish result would be lost.

It's a Good Bet on Stellar (XLM)

Even though Stellar isn't showing any significant trends, it is undoubtedly one of the undervalued assets in the cryptocurrency space. The price of XLM is currently moving in a downward wedge.

This trend suggests that a breakout might take XLM to $0.142, representing a 23% gain for the altcoin. By clearing $0.160, XLM would be able to chart a new all-time high.

The possibility exists that the slide may continue even though the RSI is below the neutral point, indicating that there is a risk the uptrend may lose momentum. If this is the case for XLM, the cryptocurrency asset may lose the support of $0.10. This would negate the positive result and cause the altcoin to drop below $0.09. 

April 2024, Cryptoniteuae

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