Despite the market’s volatility, the cryptocurrency sector sustains a robust transaction volume above $160 billion. Bitcoin (BTC) keeps its value steady around $71,000, and the overall market cap hovers near $2.7 trillion. The spotlight turns to the prospects of specific altcoins such as AVAX, LUNA, and XCN, with investors keen on their performance predictions.
Avalanche Gains Momentum
Avalanche (AVAX), recognized as a formidable contender to Ethereum, stands out with favorable market movements. Analysts believe that even after Ethereum’s anticipated updates, Avalanche and similar networks like Solana will retain their competitive edge due to lower transaction fees and faster processing times. Notably, AVAX has recently breached the significant $50 barrier, prompting predictions of a potential surge to between $69 and $73, provided it maintains its bullish trajectory. However, should it dip below current resistance levels, prices might fall to $38 or $31.5.
LUNA’s Uncertain Journey
LUNA’s price trajectory appears to be dwindling, though the $1 support level remains intact for the moment. Upcoming developments in the US court concerning Do Kwon could trigger further downward pressure on the coin’s value. Should the price fall beneath the $0.8 mark, the currency might reach new lows around $0.55, and breaching channel resistance could even result in record drops.
XCN’s Notable Market Movement
XCN Coin, despite being a relatively lesser-known altcoin with a small market cap, has recently seen remarkable gains, with a notable 90% increase in just two days. Today, the price has stabilized at $0.00326. A drop below $0.00312 could signal a continued downtrend toward $0.00233.
