- Five altcoins are showing some promise as they are trading above the 200-day SMA.
- TRON is considered to have the biggest chance of a big price increase soon.
- The ATOM price action is weaker than the rest of the altcoins.
At the moment, there are five altcoins showing some promise as they are trading above the 200-day SMA. This is generally considered to be an important indicator to determine if an asset is on an uptrend or a downtrend. The five altcoins with this potential to move upwards is TRON (TRX), Enjin (ENJ), Solar (SXP), Ontology (ONT), and Cosmos (ATOM).
TRON is considered to have the biggest chance of a big price increase soon as the crypto has been trading above its 200-day SMA since January 26. TRON is now facing a hurdle around $0.0645, but if the crypto is able to flip this, the price of TRON could rally by 12%.
ENJ has also crossed its 200-day SMA, and has rallied by 130% over the last 40 days. In addition to this, it has also flipped an important resistance level at $0.4121 into a support. The price of the altcoin is now expected to target $0.5753, which is 35% away from its current price.
ONT is in a very similar position as it is also trading above its 200-day SMA, and is now expected to make a 79% upswing after recently flipping the $0.2124 resistance. Bouncing off of this support will be key in triggering the crypto’s upswing.
As with the rest of the altcoins mentioned above, SXP is also trading above the 200-day SMA, and is now primed for an upward move. SXP is currently trading hands at $0.3248 after a 11.59% increase in price.
The ATOM price action is weaker than the rest of the altcoins due to its lack of distinctive higher lows. The price of ATOM will likely lower to touch the 200-day SMA at $11.88. If bulls can defend this level, the price of ATOM can bounce by about 48% to retest $17.54.
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