Next Week’s Altcoin Watchlist: LOOM; BNT; SOL for Potential Gains

AltCoins Alt Coins

Market Correction: Rising Inflation and Interest Rates Impact, Bitcoin Stabilizes Below $27K, Shifting Sentiment. Emerging Projects Impress, LOOM, BNT, SOL Gains Awaited.

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With Bitcoin’s bullish hopes waning, investors are rethinking their portfolios. Glassnode data shows HODLers making changes lately, as Bitcoin’s stability and short-term holders create a sluggish market vibe.

Amid this, emerging altcoins like Loom Network and Bancor Network have been in the spotlight, scoring big gains. This has stirred up excitement, hinting at a potential upward trend in the week ahead.

Analysis of Loom Network (LOOM) Price

Loom’s price recently hit the 20-day EMA line at $0.248 but didn’t drop further, as bears failed to push it down. Right now, the bulls are getting ready for a potential strong breakout in the upcoming week.

If bears try to push the price down, it might find solid support at $0.24, a level where the bulls are expected to step in and buy. If the price falls below this point, it could head towards its breakout level at $0.19.

In the past few hours, buyers have been making aggressive purchases, which could lead to a breakout from the current consolidation. If the price goes above $0.3, it could signify a potential 3x gain, with LOOM’s price possibly reaching as high as $0.9.

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Analysis of Bancor Network (BNT) Price

In the past week, BNT’s price went up by around 30%. However, it lost 50% of those gains in the last three days. Despite this dip, traders are gearing up for a potential surge in the coming week.

Recently, the price tried to go below the EMA50 line at $0.449, but buyers stepped in to support it, creating buying interest during the drop. If the price manages to rise above the upward trend line, BNT might aim for a surge above $0.61, and a successful move could push it beyond $0.7.

On the flip side, if the price falls below $0.48, it could signal a bearish trend towards the breakout zone of $0.4-$0.42.

Analysis of Solana (SOL) Price

Solana’s price recently dipped below the 200-day EMA due to selling pressure from short-term holders. However, it bounced back from $21 and is now showing strong gains.

The steady EMA lines and the rising RSI indicator indicate an advantage for the buyers. If the SOL price goes above $22.5, the bulls will likely aim for a move beyond $25 to solidify their position.

On the other hand, if the price falls below $21, it could shift the short-term advantage in favor of the sellers, and the price might consolidate around $18.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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