Altcoins
Which Altcoin to buy today January 18: SOL, BLUR, XAI
Uncertainty hangs heavily in the air, even altcoins have not escaped the bloodbath. Bitcoin Price the fall below $42,000 sent shockwaves through the market, leaving investors scrambling to gain a foothold. But in the darkness, opportunity shines. Identifying the gems that can rise from the ashes of this correction could be the difference between winning and losing.
This article will highlight three promising altcoins: Solana (SOL), Blur (BLUR), and Xai (XAI). We will analyze their technical charts, identify key entry points for dollar cost averaging (DCA), and unlock their short- and long-term speculation potential. Remember that in the crypto game, even a brutal bear market can pave the way for future bull runs. So let’s dive in and find the hidden ones best crypto to buy diamonds.
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Solana: prospecting for the next major breakthrough
As one of the most popular tokens among institutional investors, Solana tends to offer unbeatable returns. In the third quarter, the smart contracts token exploded from $20 to a staggering high of $126.
Although the rally was halted, resulting in a fall below the important $100 pivot level, investors can still secure positions in SOL that could offer promising returns.
Trading at $98 during US business hours on Thursday, SOL finds itself at a crossroads. A successful retest of resistance at $100 has the potential to make the token more attractive to investors. However, a failed breakout could further dampen optimism and result in another sweep of the support areas below $90 and $85.
SOL Price Chart | Commercial view
Although Solana may offer the potential for greater returns, it is advisable not to enter at market rate. An established breakout of around $100 could mark an excellent turning point and pave the way for further gains.
At the same time, lower support zones such as $90 and $85 could serve as potential entry points by capitalizing on the DCA strategy. The rebound of these areas would imply maximum gains as Solana Price goes up towards ATH.
Blur Price Rally hits a hiatus, here’s what’s next?
Investors betting on the NFT sector would want to consider Blur. The token powers a widely known marketplace and aggregator platform offering advanced features such as real-time price feeds as well as portfolio management.
After exploding 36% in the last 30 days, Blur is trading at $0.67. Over the past 24 hours, the token rose another 2.2%, supported by a 2.7% increase in trading volume to $838 million and a 3% increase in market capitalization to $404 million. dollars.
This surge in activity highlights growing investor interest and appetite for risk and could be the gateway to an expected rise to $5 – the ATH.
Waiting for, Price of blur is facing increasing selling pressure triggered by high overbought conditions and the current crypto market slump.
Fuzzy Price Prediction Chart | Commercial view
The Moving Average Convergence Divergence (MACD) indicator reinforces the worsening bearish situation. Some traders might choose to short Blur based on the sell signal and loss of support at $0.7.
The bulls must move first to protect the 20 EMA support and ensure that the blur does not slip below the purple band.
The presence of a rising wedge pattern could reinforce selling pressure and lead to a long downturn towards support zones below $0.6 and $0.55, respectively.
Profit from dips, especially now that the crypto market is generally lackluster and bleeding could prove profitable over the next few weeks.
The consolidation of Xai prices in a new range, a prelude to new gains?
Investors continue to seek exposure to Xai, a token recently listed on Binance, a leading crypto exchange. After the launch, XAI fell to $0.45 before extending the rise to $1.2.
The seller’s situation at $1.2 was tested twice, but without success, with the last attack resulting in losses at $1.
Xaï Prize is currently trading slightly above $1 and holding below a confluence resistance created by the 50 EMA and 20 EMA.
Xai Price Chart | Commercial view
If traders bet on a bearish outlook supported by a sell signal from the MACD, Xai could close the day below its immediate support.
Such a move could either lead to more pain as losses climb towards $0.9 and $0.8, or allow the bulls to sweep in fresh liquidity and support the third attack at the $1.2 resistance. This breakout could potentially propel XAI to a new ATH and even pave the way for price discovery.