PEPE, Polkadot ImmutableX and Bittensor are the most prominent amongst the cryptocurrency fear and greed index.
The detailed analysis of individual crypto-currencies reveals interesting trends and future predictions.
The PEPE chart shows a bullish set-up
PEPE is currently trading at $0.0000074 and has experienced a 4 percent increase over the past 24 hours.
The recent increase comes following a steep drop of -55.86% from the all-time-high price of $0.0000167. PEPE is still over 450% higher than its annual open. This shows its strength.
Technically, the current price movement has created a bullish pattern within a wedge-shaped pattern that indicates potential upward movement.
Price has confirmed key support levels. This includes a double bottom pattern which reinforces bullishness.
Technical indicators such as RSI, MACD and EMA are also showing a growing divergence in favor of the bulls, which could indicate an impending breakout.
This potential breakout could result only in a rally on a shorter time frame, rather than an all-time record.
According to the wave counting theory, the breakout that is about to occur could be the beginning of a bigger A-B C correction. A possible drop may follow the initial rise.
PEPE will reach $0.0000079 in the next 10 working days. The range for 2024 is between $0.0000052 to $0.0000119.
Polkadot tests support levels amid negative sentiment
Polkadot is priced at $4.19. This represents a slight 0.48% decrease in the past 24 hours.
The price of DOT has fallen significantly since its high point of $53.31, a drop of -92.14%.
Polkadot has recently rebounded from its $4 support zone, but struggles to maintain bullish momentum.
Resistance is seen around $4.556, and the support area near $4.224.
Thirteen out of seventeen indicators indicate that the short-term outlook is mostly bearish.
Since June, the price of tokens has been forming lower highs and lowest lows. The Directional Movement Index indicates that there is a downward trend.
The Chaikin Money Flow indicates a significant inflow of capital, providing a bullish divergence.
Price is likely to range between $4 and $7 in the short term. $9.97 could be a potential resistance level if price manages to rise above current resistance levels.
Polkadot’s long-term price predictions range from $16.67 up to $38.56 at the end of 2024.
ImmutableX rallies amid NFT trends
ImmutableX has been a top performer recently, seeing a 17 percent increase over the past 24 hours. Its current price is $1.43.
The Guild of Guardians Heroes is largely responsible for this rise, which was a 125% increase in NFTs sales.
ImmutableX has experienced a downward trend in its NFT sales for a number of years, and a drop of 33% over the past 30 days.
The short-term technical indicator for IMX is bullish with nine buy calls and six sell calls out of a total 17 indicators.
Price is above 10, 20 and 50 day EMAs, but below 100 and 200 day EMAs.
If the price rises above $1.57 then it may reach $1.80.
Long-term projections suggest that IMX may reach a price range of between $1.11 to $2.56 at the end 2024.
Bittensor forecasts a significant uptrend in the AI sector
Bittensor’s (TAO), which is currently priced at $315.18, has seen a 10% rise in price over the past 24 hours.
The recent increase in interest is due to the growing popularity of AI-focused stocks and cryptocurrencies.
The price of Bittensor is down by 56.49% compared to its previous high, which was $724.33.
The technical indicators indicate a bullish mood for TAO with 10 call to buy and 5 calls to sell.
Price is higher than the 100 and 50-day EMAs, but lower than the 200-day EMA.
The key resistance level is $357.30. Next up, $414.61.
TAO is predicted to reach $342.21 within the next 10 business days if it maintains its current pace.
The price of Bittensor is expected to range from $225.98 up until $522.79 at the end 2024.
Updates may alter the post Polkadot under pressure as PEPE, ImmutableX, and Bittensor prices surge
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