Bitcoin maintains its position above $63,600, and if this trend continues, it might signal the end of the stagnant movements in altcoins. This shift could pave the way for investors aiming for gains exceeding 50%. The key question is: what levels can four popular cryptocurrencies reach in the coming month and what can investors expect?
Dogecoin’s Potential Surge
Recent fear and panic have led to weak cash inflows into altcoins, causing significant lows in August. If a recovery emerges, Dogecoin (DOGE) could benefit. Currently above the EMA20 level of $0.1 and having reclaimed the SMA50, closing above $0.11 in September might push DOGE to $0.14 and $0.18.
Will TON Coin Hit $10?
TON Coin has garnered significant attention this year, driven by its rapid ecosystem expansion. Integrating with Telegram has proven highly beneficial, as seen in the meme coin’s 50 million Telegram members. However, a close below $6.54 could lead to a drop to $5.5. Conversely, an upward trend could test the psychological target of $10 after hitting $7.65 and $8.11.
Cardano (ADA) has surpassed its $0.38 target, which aligns with the SMA50. If ADA maintains this level, it could test the downtrend line, signaling a potential rally towards $0.52. A fall could target the EMA20 at $0.35, though the short-term outlook remains positive due to BTC’s influence.
Factors Impacting AVAX’s Price
Franklin’s management of $1.6 trillion in assets and Grayscale’s launch of its AVAX Trust have propelled AVAX’s price above $26.5. These developments are likely to support the price medium-term. Maintaining $24.88 is crucial for continued growth. For a significant rally, surpassing $29 with strong demand and establishing $32 as support might set the stage for a move towards $50.
Actionable Insights for Investors
- Monitor DOGE’s ability to close above $0.11 for potential gains towards $0.18.
- Watch TON Coin for a possible test of $10 if it remains above $6.54.
- Track ADA’s performance above $0.38 for a possible surge to $0.52.
- Observe AVAX’s ability to sustain levels above $24.88 for a potential move to $50.
Conclusion
The current market conditions present exciting opportunities for altcoin investors. By closely observing key price levels and market trends, investors can position themselves for significant gains. As Bitcoin continues to hold strong, the potential for altcoins to break out of their current stagnation grows, promising an interesting period ahead for cryptocurrency enthusiasts.