Cartesi (CTSI) Price Attempts Breakout
If you’re looking for altcoins with potential volatility, keep an eye on Cartesi (CTSI). This cryptocurrency has shown signs of increased activity, including high transaction volume, a large number of active addresses, and whale transactions. Similar to Bancor (BNT) before its price surge, CTSI has also exhibited a low age of destroyed coins.
In terms of price action, CTSI has been trading under a descending resistance trendline since May. On October 8, the price was rejected at this trendline, resulting in a long upper wick. Additionally, the $0.0135 horizontal area acted as resistance.
To initiate an upward movement, CTSI needs to break out from the descending resistance trendline and surpass the $0.135 area. If successful, the price could reach the $0.180 resistance level, representing a 40% increase from the current price. Conversely, failure to break out may lead to a 25% drop to the $0.100 support area.
Holo (HOT) Approaches End of Bullish Pattern
If you’re interested in Holo (HOT), be aware that there are indicators suggesting potential volatility. These include a high number of whale transactions, accumulation by wallets holding a significant amount of tokens, a large number of exchange inflows, and a low age of destroyed coins.
In terms of price action, HOT has been trading within a descending wedge pattern since reaching its all-time high in April 2021. This pattern is typically considered bullish and often leads to breakouts.
Although HOT is currently in a bullish pattern, the weekly RSI indicator suggests a bearish trend. A reading below 50 and decreasing values indicate bearish momentum. Therefore, whether HOT breaks out from the wedge or breaks down from the $0.0095 support area will determine the future direction of the price.
If a breakout occurs, HOT could potentially reach the next resistance level at $0.00250, representing a 150% increase from the current price. Conversely, a breakdown could lead to a 70% decrease to $0.00030.
Hot Take: Two Altcoins Poised for Volatility
Both Cartesi (CTSI) and Holo (HOT) show signs of potential volatility based on their respective indicators and price patterns. CTSI’s high transaction volume and active addresses, along with HOT’s whale transactions and accumulation by large wallets, indicate increased activity in these altcoins.
For CTSI, a breakout from the descending resistance trendline and the $0.135 area could lead to an upward movement, while failure to do so may result in a significant drop. As for HOT, a decisive movement outside of the descending wedge pattern or a breakdown from the $0.0095 support area will determine its future trend.
Keep an eye on these altcoins as they could offer trading opportunities in the coming days.
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