YGG Coin and OXT Coin Surge on Binance

YGG Coin and OXT Coin witnessed significant price increases on Binance today, even amidst a negative market sentiment.

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Investors in these popular cryptocurrencies are reaping substantial profits. Let’s explore the potential price targets for these altcoins.

YGG Coin

YGG Coin got listed on Binance Futures, and on August 4th, a new step was announced to enhance its sustainability and strength. Since then, the price has been rising, and currently, YGG Coin is trading at $0.49 with over 200% monthly gains. Its daily gain on Binance is an impressive 72.48%.

YGG Coin has the potential to test the $1 target if its price remains above $0.488. The current interest suggests that it might target the psychological resistance in the upcoming days. In markets with decreasing volume, cryptocurrencies showing positive divergence like YGG Coin tend to attract more attention.

It is expected that YGG Coin could reach $1 again within a year, as it has already recovered half of the loss from its previous peak. Currently, the coin is trading at levels similar to those seen on August 30, 2022.

OXT Coin

Orchid (OXT) is the second altcoin continuing its rally on Binance exchange today, with a remarkable 34% increase and a price of $0.06785. It has become the second highest gainer of the day on Binance, with a trading volume of $40 million, representing a staggering 2200% volume increase in the last 24 hours.

The decrease in liquidity allows altcoins to start impressive rallies with just a few million dollars. Speculative traders are showing interest in altcoins that have had weak volume and traded sideways for an extended period.

Today, the price of OXT Coin reached $0.074 but retraced slightly afterward. If it stays above $0.0684, it might test resistance at $0.079 and $0.092. On the other hand, $0.054 could act as support if the price declines.

Investors should be cautious about price movements driven by speculators, as such rallies can lead to significant price drops due to large-volume sales similar to purchases.

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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