The crypto market is facing a healthy price drop this week, with Bitcoin falling to a two-week low near $66,000. Altcoins like Etherem lose 7% in a week under $2000 USD, Solana, BNB, XRP, Shib, Doge, Pepe and many of the previous performers were boring. While there is positive institutional participation, the uncertain geopolitical situation has increased market greed.
Coinpedia Markets’ analysis for next week predicts a neutral to bullish week. Bitcoin will trade between $66,000 and $72,000, and altcoins that have shown positive growth could repeat the cycle.
Here is our list of altcoin watchlists for next week.
Bittensor (TAO) Target: $414.60
Bittensor(TAO)]is among the top performers, with monthly growth of almost 80%, ranging from a low of $171 to $375.
Currently trading at $320.62 with a growth of -2.29%, TAO/USDT is showing solid bullish growth over the 4-hour period. The RSI at 48 is neutral buying pressure, but the altcoin price is trading above the Ichimoku cloud, showing a buyer’s confidence.
If the price moves in an upward channel, it could retreat to a buying dip between $280 and $305. In the same scenario, followed by a correction, the TAO coin is expected to trade in the $380 to $415 zone in the next two weeks.
In the event of trend invalidation, the Bittensor coin prints a strong support at the phycoligal level of $300.
Siren (SIREN) Goal: $4
The newly launched AI memecoin on BSC, SIREN, topped the charts last week. At the time of writing, the SIREN coin is trading at $1.66, with a 24-hour growth of 101% and a monthly growth of 337%. Also note that over the last two trading days, the price dropped neatly by 62% in days, to around $0.875.
Despite all the research and warnings about a large concentration of circulating supply in the hands of the team, the SIREN coin is a dramatic and clear result of FOMO mixed with continued uncertainty.
SIREN/USDT is also seen among balanced long/short derivatives, which could further strengthen the price near the horizontal resistance range at $1.7. Holding strong above this level could trigger a rally towards the next resistance near $2.06.
In a bearish scenario, a break below $1.50, SIREN could retest the support at $1.20.
Midnight (NIGHT) Target: $0.072015
The Cardano-based coin Midnight (NIGHT) reacted bullishly again after the Monument Bank of the UK announced its plan to tokenize ADA and NIGHT tokens. Furthermore, the rally today was supported by the listing of the Australian stock exchange CoinSpot yesterday.
The NIGHT coin is trading at $0.05164 at the time of writing, up 12.4% in 24 hours and up 18.67% in one month. The Midnight coin was launched in early March and has cemented its place among the Top 50 coins based on a market cap of $744.4 million USD.
The NIGHT/USDT 4-hour chart shows the coins showing that the altcoin is regaining momentum. The Average Directional Index (ADX) stands at 26 and is trending upward, indicating that buyers have entered since March 26. The MACD line is above the signal; there is a sharp shift in momentum for further gains.
Support for NIGHT now lies at $0.045 and $0.0423, and a resistance pain point at $0.5517, moving further, will push the altcoin towards the $0.07 zone.
Other coins on the list are
Chubby penguins ($PENGU)
- Now: $0.006546
- Target: $0.0077
River ($RIVER)
WikiCat ($WKC)
- Now: $0.0000001104
- Goal: $0.00000018504
Qubic ($QUBIC)
- Now: $0.0000009989
- Goal: $0.00000166719
Osaka Protocol ($OSAK)
- Now: $0.00000004137
- Goal: $0.000000070414
Twilight ($DUSK)
- Now: $0.1104
- Target: $0.2110
Hachiko ($HACHI)
- Now: $0.000000005016
- Goal: $0.0000000157491
The market is significantly affected by the ongoing war situation, and Bitcoin is falling due to the uncertainty, causing altcoins to fall as well. But the coins above are the ones that have not been affected by the trend to any great extent.
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