Winners of the Next Rally Won't Be BTC and ETH - COINTURK NEWS
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Winners of the Next Rally Won’t Be BTC and ETH

11:44 pm (40 days ago)
August 18, 2023

Bitcoin‘s price drop is seen as a buying opportunity for risk-averse investors. Despite weak interest, these prices can bring profits. The daily volume in the cryptocurrency markets has surpassed $70 billion again after a long period, requiring the liquidation of futures positions exceeding $700 million. With the return of volatility, investors may return to the markets if the volume remains strong.

The price of SEI Coin soared on August 15th. After being listed on the Binance exchange, the price reached $0.48, an all-time high, as soon as trading began. However, it has since declined. The decline has followed a decreasing resistance line since August 16th. Although there may be some significant price fluctuations during the initial token listings, it usually takes several days for the price to stabilize.

On August 18th, SEI made a jump and broke out of the resistance line. However, it has not initiated any upward movement yet.

Airdrop recipients are not satisfied with the situation, suggesting that the supply that will be sold quickly may not be at a worrisome level. If the SEI price moves upwards, it can surpass the $0.21 resistance with a 35% increase. However, if the decline in BTC price continues and the SEI Coin price follows suit, we may see a drop to $0.1 with a 37% loss.

THORChain (RUNE) Chart Analysis

The price of RUNE has been trending upwards since June 14th. After making a higher low on July 30th, the price of the altcoin has accelerated its rise. On August 12th, RUNE broke out of a descending resistance line that has been ongoing since the beginning of February. Currently, RUNE is trading within a horizontal resistance area of $1.50. Whether it breaks or gets rejected will be crucial in determining the future trend. Here as well, if BTC allows, the possibility of a breakout seems more dominant.

In an optimistic scenario, it can test the next resistance at $1.90 with a 33% increase. In a negative scenario, it would not be surprising to see a 19% drop to the $1.2 region.

Disclaimer: The information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct their own research.

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