Emerging Altcoins with High Growth Potential for the Upcoming Month
Explore the potential growth of altcoins Pendle, Bancor, and Radiant Capital, with insights on technical indicators and market trends for informed investing.
In this blog, we will delve into the growth prospects of three altcoins, ranked between 150 and 300 in market capitalization. Their recent performance and technical indicators suggest they might offer significant investment opportunities in the near future.
Chart by TradingView
PENDLE: This altcoin has shown remarkable growth, especially in the past month, with its price climbing to $1.23. This is a significant achievement, as it has surpassed the $1 resistance level, a barrier since September 2021. The weekly RSI is positive, indicating strong momentum. An ongoing rally could potentially push PENDLE's price up by 80% to the $2.07 mark, setting a new all-time high. However, investors should be wary of a potential pullback to $0.60 if it dips below the $1 mark.
Bancor (BNT): After a prolonged period of trading below the $0.65 resistance since May 2022, Bancor finally broke through last week, reaching a new high of $1.95. The RSI supports this upward trend, indicating a bullish market sentiment. However, BNT is currently down over 50% from this level. Therefore, the rally may be over for now, and we will see a renewed rally only later in the month.
Radiant Capital (RDNT): RDNT has been under a descending resistance line since mid-April, reaching a low of $0.19 in September. However, it recently broke this trend, climbing to $0.30. An expert in the field anticipates a further increase to at least $0.36, a 25% jump from its current price, aligning with key Fibonacci retracement levels. Yet, there's a potential 25% downside to $0.22 if the upward momentum doesn't sustain.
These altcoins, while less prominent than major cryptocurrencies, present unique investment possibilities; however, they also carry significant risks. Therefore, you should do your due diligence before investing in any of them.
