Cryptocurrency Market is going through a tough period as Bitcoin’s (BTC) price has pulled back to the $64,000 level. A similar price trend is observed in major altcoins, causing significant value losses in many investors’ portfolios. However, mid-sized altcoins are showing an upward trend with increasing buying pressure across the market. Based on this, we have identified two altcoins with the potential for significant price increases in the coming months.
Aave (AAVE)
Despite the increasing selling pressure in the cryptocurrency market, AAVE‘s price rose by approximately 10% in the last 24 hours, with a trading volume recorded at $350.47 million. Additionally, AAVE gained 16.93% in the past week and 30.61% in the last 30 days. The altcoin has formed an ascending channel pattern on the daily timeframe and is about to test the resistance trend line. Access NEWSLINKER to get the latest technology news.
The RSI indicator is about to cross into the overbought range with an upward curve on the price chart. Additionally, the 50/200-day EMA crossover on the daily timeframe indicates a Golden Cross, suggesting a positive outlook for AAVE in the future.
If the market continues its upward trend, AAVE’s price could test the upper resistance level at $131 this month. Conversely, a downward trend could cause the price to fall to the support level at $93.75 in the coming weeks.
Mantra (OM)
Mantra‘s OM price has also followed a similar trend to AAVE, rising by approximately 5% in the last 24 hours. Despite a correction of about 1%, it has increased by 37.40% in the past 7 days and by 1,940% since the beginning of the year.
The MACD indicator shows a continuous decline in the red histogram, indicating increased price activity for OM. Moreover, the 50-day EMA consistently supports the price chart. These two technical indicators alone suggest that the altcoin will continue to gain value this week.
Under bullish market conditions, OM’s price could target the upper resistance level at $1.60 this month. Conversely, if the bulls fail to keep the price above the support trend line, the altcoin’s price could test $1.050.
