• Altcoins such as Tezos, SingularityNET, and LUNC have gained a lot of attention this week, possibly sending them to new highs soon.
• Tezos (XTZ) is currently trading at $1.25 with a decline of 8%, but its RSI is still in a bullish region with a spike in buying pressure, which may cause it to rebound next week and head towards the resistance of $1.75.
• SingularityNET (AGIX) has formed a triangle pattern with the potential of breaking its 31.8% Fib level and Terra Luna Classic (LUNC) has formed an intriguing position that indicates it could break out soon.
Overview
Altcoins have recently attracted more attention from crypto investors than Bitcoin due to their potential beyond Bitcoin’s dominance in the market. Several altcoins including Tezos (XTZ), SingularityNET (AGIX) and Terra Luna Classic (LUNC) are being closely watched by traders for possible breakout opportunities this coming week.
Tezos Price Analysis
Tezos‘ value has gained significant attention due to Google Cloud’s partnership and may make a bullish reversal in the coming week with a target of $1.75. The XTZ token is currently trading at $1.25 with a decline of 8%. However, the RSI is still in a bullish region with an increase in buying pressure, indicating that it may rebound next week and head towards the resistance of $1.75.
SingularityNET Price Analysis
The popularity of AI platform ChatGPT has caused AI altcoin AGIX to gain enough attention to break its upcoming resistance levels in the next week and is currently trading at $0.42, with a gain of 6.5% over the last 24 hours. On its 4-hour price chart, AGIX has formed a triangle pattern indicating that it may break above $0.45 and see an exponential surge up to its Bollinger band’s upper limit of $0.66 if successful..
Terra Luna Classic Price Analysis
The price movement of Luna Classic indicates that it could break out soon as it is currently on an intriguing position on its daily chart showing signs that it could attempt an upside breakout shortly after testing its current support near EMA-100 at around 0.12$. If successful, LUNC can target resistances near 0$19 or higher depending on market momentum..
Conclusion
Altcoins continue to attract investors away from Bitcoin’s dominance due their diversity and future potential beyond Bitcoin’s network effects . This shift has manifested itself through several altcoins garnering significant attention this week which can result in breakthroughs for Tezos (XTZ), SingularityNET(AGIX),and Terra Luna Classic(LUNC) if they manage to break past important resistance levels identified by traders in the coming days