Altcoin
Hidden altcoins that can generate earnings in July
The cryptocurrency market is filled with numerous digital assets, so it is no surprise that many promising altcoins remain under the radar.
BeInCrypto presents three undervalued assets that stand out in their respective categories.
MANTRA (OM) — the underdog of RWA
MANTRA is a Level-1 Safety Real World Asset (RWA) Blockchain. Among many other features, the most notable is the ability to provide permissionless networking for authorized applications.
In the first two weeks of June, the altcoin saw a remarkable growth of 55%, reaching just under $1.04. However, it failed to surpass this level and suffered a massive decline, erasing all the gains it had made.
Despite this setback, OM price held a crucial support level at $0.64, which has remained firm for three and a half months. This support level gives OM price a chance to rebound, especially as the Relative Strength Index (RSI) is approaching bullish territory.
To know more: How to invest in real crypto assets (RWA)?
OM Price Analysis. Source: Trading visualization
However, if this support is lost, MANTRA investors could suffer substantial losses. OM’s price could fall below $0.50, erasing half of the profits recorded at the end of March.
Wemix (WEMIX) — Blockchain-based gaming platform
While Wemix price hasn’t had an impressive run over the past month, gaining only 7%, it still presents a bullish opportunity. In the last week alone, the altcoin has increased by more than 35% to settle at $1.38.
WEMIX broke above crucial resistance at $1.38, a level that has been tested as support in the past. Turning this resistance into support will aid Wemix’s rally, potentially sending it towards $2.00 and pushing the altcoin into consolidation.
To know more: WEMIX3.0 Explained: A Guide to the Borderless Web3 Ecosystem
On the other hand, if investors decide to sell their WEMIX to book profits on their holdings, the price could take a hit. The most likely outcome would be a crash to $0.98, invalidating the bullish thesis and erasing all the gains made in June.
Raydium (RAY) — a Ray of Liquidity
Raydium price has performed surprisingly well despite broader, largely negative market signals. Moving between $1.82 and $1.45 over the past three and a half months, the altcoin is now looking for a breakout.
The Moving Average Convergence Divergence (MACD) indicator has shown a bullish crossover over the past three days. The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. Analyzing the convergence and divergence of these moving averages helps identify potential buy and sell signals.
Based on this, RADIUS is looking at a potential breakout of the consolidation zone. Upward momentum would push the altcoin to $1.99, which would help break this barrier as well.
To know more: What is raydium (RAY)
But if the breakout fails and Raydium price remains consolidated, the sideways momentum will continue, which may invalidate the bullish thesis.
Disclaimer
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