The cryptocurrency market is an area full of opportunities and risks. The spotlight is often on leading cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). However, there are also hidden gems. According to crypto expert Ivan Zhelev, these lesser-known altcoin projects hold serious growth potential. However, he also notes that these are accompanied by a high level of risk. The expert then examines the technical drawings of 3 altcoins in which he sees high potential.
The jewel in the first row: Near Protocol (NEAR)
NEAR is a public Proof-of-Stake (PoS) Blockchain that aims to bring DeFi to the masses with low transfer fees and fast transactions. It competes with Solana (SOL), Cardano (ADA), the new version of Ethereum, and other PoS networks. NEAR rose on November 24 and closed the day above the $1.70 resistance. This move indicates a potential trend change for the altcoin in the short term. The 20-day Exponential Moving Average (EMA) is rising. Additionally, the Relative Strength Index (RSI) is at $1.58. This points to the current dominance of bulls in the positive market. A minor resistance lies at $2. It is possible that a successful move could push NEAR to $2.40.
NEAR daily chart. Source: TradingViewOn the other hand, the bears will attempt to reverse the momentum by pushing the price below the established breakout point at $1.72. This could potentially trap bulls entering aggressively. In such a scenario, it is possible for the altcoin price to decline towards the 20-day Exponential Moving Average (EMA), an important level that requires close observation.
Second ranked altcoin: Theta Network (THETA)
THETA has experienced a correction in the last few days. Following this, it is currently finding support from the 20-day Exponential Moving Average (EMA) at $0.88. This trend suggests that overall sentiment remains positive, with traders interpreting recent declines as a favorable buying opportunity. The fact that the price found support at the 20-day EMA is a sign of its resilience in the market. Additionally, investors seem inclined to consider these corrections as a chance to enter or add to their positions.
THETA daily chart. Source: TradingViewIf the expected bounce from the 20-day EMA occurs, it is possible that THETA will gain momentum and move towards $1.05 and then $1.20. It will not be easy for the altcoin price to exceed this level. However, if it exceeds it, THETA is likely to move up to $1.33.
Last on the list is Arbitrum (ARB)
cryptokoin.com As you follow from , the crypto community excitedly welcomed the launch of Arbitrum (ARB) in 2023. The token launch did not disappoint as it came with a massive airdrop that offered participants the opportunity to secure up to 12,000 tokens worth over $10,000. The altcoin has shown extensive growth in the crypto market since its launch. It became one of the top 100 crypto projects shortly after its launch. According to some reports, Ethereum whales invested billions of dollars in ARB tokens after the launch. Therefore, this increased the ARB price.
ABR rose to an all-time high (ATH) of $11.80 in March 2023. However, since then ARB has been showing declining performance. Currently the altcoin is trading at $1.6. Significant support from major cryptocurrency exchanges supports Arbitrum’s rise. This support enabled it to quickly become the second most widely used Blockchain in the crypto space.
ARB performance for the last 7 days. Source: TradingViewHowever, after its initial success, a discordant note emerged as developers expressed interest in using a significant portion of altcoin project funds. This proposal caused opposition from the community. Arbitrum Blockchain is fast and user-friendly. However, due to the controversy surrounding the vote and the perceived disrespect towards the community, an investment in ARB is now considered high risk high reward.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. We strongly recommend that you do your own research before investing.
