The recent Bitcoin climbing above the $ 95,000 mark reigned bullish sentiment throughout the crypto market, lifting some Altcoins.
The BTC rally reigned confidence in investors, and in the first week of May, three Altcoins stand as potentially strong performers: Ethereum (ETH), virtual (virtual) protocol (virtual), and solayer (layer).
ETHEREUM (ETH)
Ethereum is preparing for the long-awaited PECTRA upgrade, which is set to survive Mainnet on May 7. This network's overhaul is expected to significantly improve Ethereum's scalability, validator mechanics, and architecture of smart contracts.
Despite its bullish potential, upgrading has risks that can affect ETH prices. The main exchanges are expected to pause ETH deposits and deposit during deployment, which may trigger short-term volatility or temporary sale pressure.
Also, any technical challenges during the deployment can introduce market uncertainty and worsen the market.
ETH trade for $ 1,808 at the time of press, noting a solid buildup at the bullish momentum. This can be seen by chaikin Money Flow (CMF), which is currently sitting at 0.13 and is in a racing. A positive reading of CMF like this indicates a rising pressure purchase. If this trend continues, ETH can rally at $ 2,072.
On the other hand, a dip in coin demand can send its price to $ 1,744.
Virtual (Virtual) Protocol
Virtual has risen by 37% last week, making it the leading performance owned in the market in the last seven days. It is currently trading within an upward in parallel channel, proving to climb pressure purchase.
This bullish pattern is formed when the price of an asset moves between two ascending sloping, in parallel trendlines, one acting as support and the other as resistance. This pattern indicates a long upward trend with the same price swings between the in parallel lines.
If the virtual stays inside the channel, it can rally above the $ 2 mark to trade at $ 2.15.
However, if the demands are dropped, and the virtual breaks below the support line of the upward channel, its price can fall to $ 0.96.
Solayer (layer)
The layer gained 14% in the past week to trade at $ 3.02 at the time of press. An assessment of the layer/USD one -day chart shows the token's Aoon up line at 100%. This indicates that the current completion is strong, supported by a significant demand for altcoin.
An indicator of an asset measures the strength and direction of a trend by monitoring the time from the highest and lowest prices at a given period. It consists of two lines: Aoon UP, which measures the bullish momentum, and falls, tracking bearish pressure.
Like the layer, when the Aoon UP line is 100, the owner has recently hit a new high. This is true of the token, which has been exchanged at a full time high of $ 3.43 early Monday.
This trend suggests that the purchase of pressure is high, and the price can continue to increase. If this happens, Layer can visit again all the time high and rally past it.
Conversely, if sales start, the price of the token can fall at $ 2.46.
Refusal
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