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Home»TRADING NEWS»Major cryptocurrencies to watch for market decline after rapid rise
TRADING NEWS

Major cryptocurrencies to watch for market decline after rapid rise

By Crypto FlexsMarch 19, 20242 Mins Read
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Major cryptocurrencies to watch for market decline after rapid rise
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Fluctuations in the Bitcoin market have heightened curiosity about whether Bitcoin will surge above $70,000 any time soon. In this volatile scenario, attention is focused on certain major cryptocurrencies. The potential for a sharp rise in post-market declines is gaining attention. Our article delves deeper into understanding these cryptocurrencies and their relevance in this market situation.

BlastUP Pre-sale: The first launchpad in the Blast ecosystem is now available!

BlastUP is the pioneering launchpad for Blast, a cutting-edge layer 2 solution that quickly reached $1 billion in total value in just 35 days. BlastUP’s success is evident as it quickly raised $2 million in just a few weeks, capturing the attention of smart early investors.

BlastUP stands at the forefront of financial technology and champions the motto “Grow Faster, Earn More.” The main goal of this launchpad is to lower the barrier to entry for blockchain startups and equip them for success from day one.

The fifth phase of the BlastUP token presale is already underway, with each new phase increasing the token price. The current price is fixed at $0.055 and the price on the DEX listing will be $0.1. This is a whopping 45% discount, so now is the perfect time to buy BlastUP tokens at the best price.

>> Earn BlastUP tokens now to earn maximum profits! <

BlastUP token holders will enjoy exclusive perks such as early access to token sales, special rewards from IDOs, and the opportunity to earn additional tokens through staking. You can also benefit from earning interest and receiving free tokens from supported projects.

As we move forward, BlastUP is committed to creating a global hub for the Blast community and supporting early-stage startups. With its community-driven approach and drive for innovation, BlastUP is quickly gaining traction for the benefit of all participants in this ecosystem.

BlastUP’s roadmap extends through 2026, promising the introduction of AI-based tools and a community marketplace to further enrich the ecosystem’s capabilities. As the cornerstone of the platform, the BlastUP token unlocks access to tiered IDO launches, staking rewards, and exclusive loyalty benefits.

>> Get the chance to grow faster and earn more with BlastUP! <

Possible short-term optimism rally, long-term bearish indicator

In the short term, Optimism may experience price fluctuations. This is likely due to Ethereum’s recent upgrades, which could potentially drive more interest and usage to the network. However, we can see an upward trend as the price is currently close to the nearest resistance level at $4.32 and a buy recommendation from Stochastic is testing the second resistance level at $4.95. Of course, this can all depend on market sentiment.

Over the longer term, indicators show a less optimistic picture. We recommend selling both the MACD and the 10-day and 100-day simple moving averages. This suggests that a prolonged downturn may be just around the corner. Even with an upgrade, it would not be surprising to see the pair hit the nearest support level at $2.95, with the possibility of a further decline to the second support level at $2.20. It is important to consider this when making investment decisions.

PYTH price likely to rise due to Nomura’s Laser Digital partnership

Following the partnership between Nomura’s Laser Digital and Pyth Network, an upward price trend for PYTH can be expected due to the improvements in reliability and data accuracy brought by the new collaborators. The current price is $1.01 and the resistance levels are pegged at $1.18 and $0.92. Given RSI’s Neutral stance and MACD’s Buy recommendation, an optimistic yet cautious approach suggests upside is likely near the first resistance line.

Nonetheless, there is always an inherent risk behind the scenes. Despite positive signs, it is important to consider that prices may fall due to market volatility or unforeseen circumstances. With support levels at $0.38 and $0.12, a less favorable scenario could see the price fall and approach the nearest support level. However, despite the short-term fluctuations, the growth potential of the Pyth Network, strengthened by the new corporate association, maintains a positive long-term outlook.

Polkadot’s introduction of the Unity SDK may impact price movements

Polkadot’s introduction of the Unity SDK for web3 games could lead to interesting price changes. Considering that the current price is around $9.26 and the second resistance level is $10.25, there is potential for an upside. However, it is important to note that the 100-day moving average is $7.96. This means that in the long run, prices may retreat near that level.

In contrast, Polkadot’s closest support level is $6.91 and MACD recommends a “sell” action. This means prices could drop significantly in the short term, especially if game updates aren’t received as expected. Nonetheless, it is important to remember the neutral signals coming from both RSI and Stochastic RSI Fast. This indicates that the market is likely to move in either direction.

conclusion

Coins like PYTH and Polkadot are showing potential in light of recent developments, but as the first launchpad in the cutting-edge Blast ecosystem, BlastUP has strong prospects for massive price increases. Having quickly achieved a total valuation of $1 billion, BlastUP is poised for even greater success. Launchpad’s concept, combined with its commitment and growth-oriented vision, makes it a powerful project in the dynamic cryptocurrency market and promises high returns for discerning investors.

Site: https://blastup.io/

Twitter: https://twitter.com/Blastup_io

Discord: https://discord.gg/5Kc3nDhqVW

Telegram: https://t.me/blastup_io

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily and is not intended to be used as legal, tax, investment, or financial advice.

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