It’s been an interesting week for the crypto markets. An early selloff at the start of the week saw a number of cryptos plunging by more than 10% while the majority of the industry saw red. Around Wednesday, markets appeared to recover with Litecoin leading the way up by more than 17%. A handful of tokens managed to buck the early selloff at the beginning of the week, going on to record mammoth gains by the middle of the week.
This week we take a look at ICON and Raven as they look poised to carry on their upwards momentum and break through existing resistance levels. In addition to these two, we will be guiding you through the world of 0x and how it could be the next BAT based on its performance and indicators.
ICON Looking to Push Higher
ICON has been on a bit of an upwards trend lately and has been testing the 7500 satoshi mark for multiple sessions. Creeping as high as 8400 sats, a couple of red sessions kept it floating around the 7500 sat level. It managed to avoid any negative reaction during the Bitcoin dip at the start of the week and has the volume behind it to help it push higher, especially given the latest green phase throughout the markets.
ICON could end up going one of two ways. The first being an upwards trend towards 9700 sats if it manages to break this 7500 sat resistance level – which given current overall market trends could be possible. Alternatively, we could see it start to fall back down to around 6420 sats in the next 20 days or so. If markets continue their upward trend, we could see more momentum for ICON and more favor towards the higher price target. Keep your eyes on the wider markets, as more market-wide bullish sentiment could help us see some nice gains with ICON.
Raven Taking to the Skies
Raven (RVN) is looking like it’s well overbought and could be poised for a dramatic fall, but current trends and data is suggesting that this isn’t going to happen. It has been hovering around the 645 sat mark for a significant amount of time and has been trading in channels – indicating it has found a strong resistance level. If it manages to break through we could see it climb to anywhere between 720 and 800 sats in the coming weeks.
RVN has been trading in bullish waves and keeps pushing to new higher highs when it breaks resistance levels. If it manages to push through this resistance level, we could see it climb to a new series of higher highs and higher lows.
Is 0X About to Breakout Like BAT?
0x (ZRX) is very similar to BAT in a number of ways, and BAT has been flying in the last few weeks. There are a number of indicators pointing to the fact that ZRX could be about to turn its fortunes around and settle into a nice breakout phase. The CMF is showing a bullish divergence despite falling prices. On top of this, the falling wedge patterns show there is a great deal of support for ZRX around its current levels.
While BAT received some great news this week and ZRX hasn’t, we are optimistic about ZRX and its potential for the next 20 days or so. If it manages to achieve a breakout and break resistance levels, we could see it climb to around 9437 sats around the end of April and into early May. It’s likely to fall a little further before its climb, and we suggest a buy target price of 5544 sats. Don’t forget to set up stop loss and stop limit orders as this action could happen very quickly – you don’t want to miss out on the action.
Altcoins are showing huge potential for the coming weeks and are going to be the difference between a good year and a very good year for any shrewd crypto trader. Make sure you’re on the right side of the market movements and you will enjoy juicy profits from this selection of alts.