As Bitcoin (BTC) recently witnessed an upward trend, focus has shifted towards altcoins. Cryptocurrency specialists have pinpointed three altcoins that may gain traction in the upcoming months. Analysts forecast that these altcoins could become the frontrunners in 2024.
How Will NOT and DOGE Perform?
Notcoin (NOT) experienced a remarkable surge of over 28% last month. Trading within a range of $0.0175 to $0.2, NOT displayed considerable volatility in the past week. Recent growth followed an announcement about notable user adoption and new incentives. The bullish momentum suggests that NOT might be entering an upward phase.
Should this trend persist, NOT could break the $0.019 resistance level, potentially pushing its value to $0.05 or even $0.1. However, if market sentiment turns sour, the value could find support around $0.018, with a prolonged decline possibly driving it down to $0.017, underscoring the cryptocurrency market’s volatility.
Meanwhile, Dogecoin (DOGE) has been in a horizontal trend, with bulls and bears wrestling for dominance. Despite occasional sharp movements, its price has remained within a narrow range. Last week, DOGE saw a decline of over 10%, indicating a bearish sentiment among investors.
What are Ripple’s Ambitious Goals?
For Ripple (XRP), trading above $0.5 during the American session on Monday marked a significant milestone. As per 21milyon.com, its value increased by 1.4% within an hour, maintaining a 1.8% rise over 24 hours. XRP had dipped below $0.5 on Friday but recovered above $0.49, signaling a rebound over the weekend.
Experts indicate that the 20-day Exponential Moving Average (EMA) could offer support at $0.5116, as XRP forms its second consecutive four-hour bullish candle. With the relative strength index at 51, compared to the previous week’s oversold region, XRP shows potential for an upward trend towards $0.6. If this breakout happens, XRP’s price could support a larger move towards $1, driven by FOMO (Fear of Missing Out).
Notable Insights for Investors
- Notcoin’s bullish momentum could push its value towards $0.05 or higher.
- Dogecoin must surpass $0.15 to face significant resistance at $0.20.
- Ripple’s support at $0.5116 could drive its price towards $0.6 and possibly $1.
Conclusion
As Bitcoin’s rise diverts attention to altcoins, Notcoin, Dogecoin, and Ripple emerge as potential frontrunners for 2024. Investors should monitor these altcoins closely, considering their market behavior and expert projections.