The Bitcoin halving is a key event that cuts the reward for mining in half. It has historically led to price increases. The crypto market is now vibrant with a bull run in 2024. This article examines selected cryptocurrencies that hold promising potential due to the halving event. It is aimed at those looking to understand how this event could affect different cryptocurrencies and their future growth.
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Solana has been fluctuating between $187.3 and $210.62 recently. Looking at the price change over the last week, SOL dipped by 1.77%, suggesting a slight downward movement. However, on a monthly view, it jumped by 37.25%, and an impressive 681% over the past six months. Despite a recent pullback, the long-term trend looks strong. The current price action seems more corrective than impulsive, moving sideways rather than in a clear direction.
Considering SOL’s current performance and technical levels, the potential for growth exists, with the next resistance level at $218.61. If Solana breaks above this, it could aim for the second resistance at $241.93. However, the RSI and Stochastic hint at a cautious stance, indicating that momentum isn’t overpowering right now. If Solana were to drop, it might find support at $171.97, with a further safety net at $148.65.
NEAR Protocol has seen noticeable price action with a one-week drop of about 8%. Over the past month, however, it has jumped over 50%. An impressive six-month rally has taken it up by over 500%. Currently, NEAR floats between $6.74 and $7.98. Movement is more corrective following the recent highs.
Looking ahead, NEAR could aim for its nearest resistance of $8.67 if momentum picks up, but obstacles stand firm at the second resistance of $9.91. On the downside, protection at $6.18 may cushion falls, with a stronger safety net near $4.93. Balancing hope with caution, NEAR’s journey will depend on market sentiment and adoption progress.
Cardano (ADA) has seen its value fluctuate within a $0.63 to $0.68 range recently. Over the past week, the coin has dropped by 10.36%, and looking back one month, it has decreased by 24.68%. However, in the broader view of six months, ADA has surged significantly by 118.87%. The price action currently appears more corrective than impulsive, as seen by the sideways movement near the support levels.
Looking ahead for ADA, a mix of growth potential and need for vigilance is evident. The coin’s proximity to its nearest support at $0.60 may invite buying interest, potentially steering its price towards higher resistance levels at $0.71 and even $0.76. Nevertheless, the recent decline warns traders to be mindful. Balancing these factors suggests a cautiously optimistic outlook for Cardano’s price trajectory.
NEAR Protocol has seen noticeable price action with a one-week drop of about 8%. Over the past month, however, it has jumped over 50%. An impressive six-month rally has taken it up by over 500%. Currently, NEAR floats between $6.74 and $7.98. Movement is more corrective following the recent highs.
Looking ahead, NEAR could aim for its nearest resistance of $8.67 if momentum picks up, but obstacles stand firm at the second resistance of $9.91. On the downside, protection at $6.18 may cushion falls, with a stronger safety net near $4.93. Balancing hope with caution, NEAR’s journey will depend on market sentiment and adoption progress.
Analyzing the potential of cryptocurrencies during a bull run, SOL, ADA, and NEAR may offer less room for a quick upturn in the short term. BlastUP stands out with a strong concept within the Blast ecosystem, making it a cryptocurrency with notable potential for growth. Investors seeking to leverage the Bitcoin halving event could find BlastUP an attractive option due to its innovative approach and position in the market.
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