- Toncoin: Expansion into the U.S. boosts adoption and liquidity pools attract growing investor interest.
- BCH: Triangle breakout signals potential upward movement toward $650 with strong trading volume support.
- LUNA: Breaking resistance and bullish indicators suggest a possible price advance to $0.16.
The cryptocurrency market is kicking into gear and a few promising altcoins are starting to garner more momentum than others. Investors and traders want to know which coins have growth potential and show signs of turning up. Although no one can predict future prices with certainty, several factors like market trends, adoption signals, and technical setups can signal potential winners. This week, TON, BCH, and LUNA are more pronounced in terms of upside potential, unique catalysts, and opportunities for outsized returns.
Toncoin (TON)
Toncoin, the native token of TON Blockchain backed by Telegram, has been generating great excitement among investors. Recently, the platform has gained traction in the U.S. market with the capability of adding app payments and for gaming between Telegram’s extensive user base.
This could lead to quicker adoption with regulatory clarity in the region, as Toncoin is well-positioned at the forefront of adoption in this area. Some of the market has reflected this optimism, as investors have engaged both staking and high APR liquidity pools on the decentralized exchange, STON.fi.
Bitcoin Cash (BCH)
Recently, Bitcoin Cash broke out of a symmetrical triangle pattern on the 4-hour chart so it looked favorable; meaning upward continuation may happen. The price went above the triangle’s upper trend line, indicating bullishness. The main resistance level will be $625 and based on the height of the triangle, analysts expect a potential upside target level of $650.
If prices pull back, support/assets may consolidate around $626 and stabilize buyers, which may also draw them in. The trading volume has been relatively heavy, which is continuing to support the bullish trend.
Terra (LUNA)
In the last few weeks, Terra’s token LUNA has run into beauty challenges but is now showing signs of being bullish! LUNA has recently broken key resistance levels moving toward bullish momentum. The technical indicators such as RSI and OBV are showing bullish divergences from the price of LUNA which indicates some buying pressure could be developing.
Analysts believe if LUNA can maintain this upward momentum and bullish sentiment in the market it could potentially hit around $0.16, given recent trading, and Terra’s strong blockchain infrastructure, LUNA has the potential to grow.
Toncoin appears to be positioned well for a U.S. expansion that may include even more liquidity and adoption opportunities. Bitcoin Cash is showing strong bullish momentum with triangle breakouts and stable levels of support around the reversal period. LUNA also has a strong potential price advance as indicated by its technical indicators.
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