The last week of January was marked by high volatility in the cryptocurrency market. As volatility continues, many altcoins have struggled to post gains. However, only a few defied market conditions and made strong gains, reaching new all-time highs (ATH)! BeInCrypto has identified three altcoins that stand out in this challenging market environment. Here are the performances of these tokens and expectations for the coming week:
Will MANTRA (OM) Altcoins Continue Their Rise?
OM attracted attention with a 45% increase in the last 24 hours. It broke the two-month consolidation range ($4.27 – $3.47) and made an upward move. This rise reignited investor interest, allowing OM to reach $5.10 and setting a new ATH. Currently trading at $4.59, OM can continue its rise if it can maintain the $4.27 level as support.
If OM breaks below the $4.27 level, it could move back into the consolidation range. This could negatively impact investor sentiment and make it difficult for the price to make a new ATH.
Altcoin Toshi (TOSHI) Seeks Support After Sharp Rise
TOSHI made a huge jump of 157% in the last 24 hours, reaching $0.00211. This rise occurred after establishing solid support at $0.00057, indicating that the token is increasing market interest. It is critical for TOSHI to maintain the $0.00100 level as support in order to continue its uptrend. This could lay the groundwork for further price gains and boost investor confidence.
However, if investors start taking profits, TOSHI could retreat towards the $0.00057 level. Such a scenario could invalidate the uptrend and cause the price to revert back to previous levels.
Can Popular Altcoin Vine (VINE) Break the $0.50 Resistance?
VINE, one of the popular altcoins of recent days, reached $0.487 with an impressive 237% rise and set a new all-time high (ATH). During this rise, a short-term support area was formed at $0.349. In order for VINE to continue its rise, it must overcome the $0.487 resistance and turn this level into support. If successful, it could surpass the $0.500 level and test the $1,000 target.
However, if the price reverses, VINE’s value could drop below the $0.349 level. If this support is lost, there could be a decline to $0.231 and the uptrend could become invalid.
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