As Bitcoin‘s price retreats to $42,000, three lesser-known altcoins on the Binance exchange, WRX, MOVR, and SEI, are making impressive gains despite major altcoins facing 1-2% losses. WRX Coin, which saw its all-time high of $6.61 in March 2021 and a low of $0.077 in June 2023, has reversed its steady decline, breaking through the $0.23 resistance this week. If the rally continues, the coin could test levels of $0.31 and $0.436, but investors should be wary of potential large sell-offs driven by those cashing in on the speculative rally, especially if Bitcoin’s price fluctuates significantly.
MOVR Coin, after a four-day decline, has returned to $32, but it’s too early for investors to celebrate. A stable increase is unlikely unless daily closures above the $38-40 region occur. A close below $21 could signal a major sell for traders. Given the volatility of Bitcoin’s price, investors should exercise caution with altcoins experiencing speculative surges, as a 500% increase in four days could prompt profitable investors to sell without hesitation, potentially disappointing those who took on extra risk at higher levels. Access COINTURK FINANCE to get the latest financial and business news.
SEI Coin, introduced to crypto investors only in August, is one of many smart contract platform tokens, including APT and SUI, that have not yet experienced a real bull season. This suggests that current prices could have significant potential similar to SOL Coin’s prices at the beginning of 2021. If SEI Coin maintains the $0.53 level, it could reach new all-time highs beyond $0.60, up to $1 and $1.25. Conversely, a pullback to the $0.43 support could be seen.