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What are the 4 cryptocurrencies with the potential to rise in the short term

What are the 4 cryptocurrencies with the potential to rise in the short term

After the recent banking crisis, risk aversion reached the stock markets but not the cryptocurrencies. It is that, according to some analysts, it is possible that the shift from the traditional banking system to cryptocurrencies has already begun, as seen in the strong performance of Bitcoin in recent days. However, in the short term, traders must be selective with cryptocurrencies to trade.

Ripple

According to Cointelegraph, Ripple “it soared above the overhead resistance of $0.43 on Mar 21” and “the bears tried to catch the aggressive bulls by pulling the price below the moving averages, but bulls held their ground“.

In this regard, the analysis continued, the buyers are trying to push the price towards the upper resistance of $0.51. If the bulls clear this hurdle, Ripple could attempt a rally to $0.56. “This level is likely to witness aggressive selling by the bears, but if the buyers break through, the next stop may be $0.80,” Cointelegraph said.

If the price goes down, it could go as low as $0.51. “During the pullback, if the bulls flip the $0.43 level to support, it will suggest that sentiment turns positive. That will increase the probability of a break above $0.51.”

If the low reaches $0.40, the next support is $0.36. “If the pair sustains above $0.46, the bulls will take control. The pair could attempt a rally to $0.49 where the bears could mount a strong defense again. On the other hand If the price slips below the 20 EMA, the pair can drop to $0.43 and then $0.40.”

Litecoin

While most of the major altcoins are struggling to start a recovery, Litecoin is showing signs of strength. According to Cointelegraph, the 20-day EMA ($86) has started to turn higher and the RSI is in the positive zone, indicating advantage for buyers.

So, Litecoin It could go as high as $98 and test resistance at $106. Hence the scale is, first stop at $115 and then $130.

If it turns down from $106, it could miss the 20 day EMA. “If the price bounces off this level, it will suggest that sentiment remains positive. Then the bulls will make another attempt to resume the up move,” the technical analysis said.

The key is whether or not this cryptocurrency loses the 20-day EMA. That could open the doors for a drop to $75.

money

There is minor resistance at $170, but if the bulls break this barrier, Monero could pick up momentum and rally to $187 and then $210. If it misses the 200-day SMA it could drop as low as $132.

However, the RSI is in the positive zone, indicating that the bulls have the upper hand. Monero could go as low as $169, where the bulls may once again face stiff resistance from the bears.

avalanche

The price consolidated between $18.25. If the buyers push the price above $18.25, the price could go as high as $22, where it may face heavy selling by the bears.

If the price plummets and sustains below the 200-day SMA it could drop as far as $15.24 and then $14.

Source: Ambito

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