Altcoins
Best Altcoins to buy this Christmas: AXS, MINA, ORDI
Best Altcoins: Mid Santa Claus Rally sentiment, the crypto market has taken a bullish turn since last week. While the two major cryptocurrencies Bitcoin and Ethereum have a weekly growth rate of 5-9%, several altcoins have seen an influx of purchases.
However, a few tokens Axie Infinity (AXS), MINA, and Ordinals (ORDI) have even aggressively projected their higher rally potential.
The global cryptocurrency market capitalization now stands at $1.68 trillion, a slight increase of 0.10% since yesterday. Additionally, the total trading volume in the crypto market over the past 24 hours reached $62.75 billion, a significant increase of 8.31%.
Additionally, market participants’ growing anticipation for the potential approval of a Bitcoin spot ETF is getting another boost: The SEC has set a December 29, 2023 deadline for the completion of applications. for a Bitcoin Spot ETF. This milestone could generate a wave of optimism among investors, as it portends a possible imminent approval of these highly anticipated financial instruments.
Read also: Bitcoin, Ethereum and Solana see inflows of $98 million as Bitcoin Spot ETF deadline approaches
Axie Infinity (AXS) Price Prediction: Reversal Pattern Sets Rally Beyond $14
Axie Infinity (AXS) Price Prediction | TradingView Chart
In the daily time frame chart, the Price in Axie infinity (AXS) shows the formation of a rounded background pattern. This reversal pattern, coupled with general bullish momentum, created a strong 9-week rally that sent the price of AXS up $4 to the current price of $10.12.
This 150% supported by growing volume and a massive increase in funding rate indicates sustainable growth of this asset. Recent data from Coinglass, a renowned crypto derivatives tracker, revealed a significant rise in AXS funding rates, which rose to 0.0707% on Monday. This marked increase in funding rates suggests a bullish trend among traders, indicating that they are willing to incur additional costs to reverse the trend.
The momentum indicator ROI reached a high of 81% while holding long positions in Axie Infinity.
So, with sustained buying, AXS price is likely to rise by 36.5% and reach resistance at $14. A break of this barrier would be a better signal reflecting strong bullish momentum but also a growing possibility of overbought assets.
Mina Price Prediction: As $MINA Hints at Minor Pullback Before Next Jump
Mina Price Prediction| TradingView Chart
Despite the growing uncertainty in the crypto market, the Mina Token Price managed to show sustainability and a strong rebound from the psychological level of $7. The coin’s price, rising for seven consecutive days, recorded a 76% gain from the current price of $1.19.
Amid this rise, the price of coins has recently presented a bullish breakout from the $1.24 collar resistance of a double bottom pattern. A potential breakout of this level would intensify buying pressure and could potentially push Mina price higher to $1.15.
However, the rejection of long weeks in the daily chart reflects the profit profile of short-term traders and therefore the possibility of a slight pullback before the next jump.
The daily time frame chart shows that the 20 and 50 day EMA offered strong support to MENA buyers during occasional corrections.
Ordinal Price Prediction: Is ORDI Price Ready to Regain $90?
Ordinal Price Forecast | TradingView Chart
Amid the current market uncertainty, Bitcoin Ordinals coin traded mostly sideways in December. However, this consolidation came after a strong recovery in late November, with fluctuating prices providing buyers with the opportunity to recapture the bullish momentum.
An examination of the daily time chart shows this consolidation as the formation of a bullish pennant pattern. Today, ORDI price saw a significant influx, which led to a 41% surge to surpass the upper trendline of the triangle.
At the time of going to press, the ORDI Price trades if the daily candle is above the bridge trendline, and the buyers would get proper support to extend the recovery time. Under the influence of this chart pattern, ORDI price could pursue the next potential target of $93.8 billion, followed by $196.5 billion.
A bullish crossover between the slopes of moving average convergence divergence indicates that ORDI coin is returning to recovery sentiment.