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Russia’s entry into the crypto world is expected to be a big move. Initially, Russia implemented strict regulations, banning cryptocurrency payments and controlling exchanges. However, recent developments suggest a change in policy, with the government adopting legislation on cryptocurrency payments and launching international cryptocurrency trading by the end of the year. Meanwhile, the US is exploring the idea of having a Bitcoin store, and presidential candidate Trump has been talking about cryptocurrencies. These developments could spark a new bull market. Which coins will benefit the most? Dig into the details and find out which coins are set to surge.
The price of Arbitrum is currently between $0.65 and $0.80, suggesting growth potential despite recent downward pressure. The nearest resistance level is $0.89, while the support level is solid at $0.58. Short-term indicators are the 10-day moving average at $0.70 and the 100-day moving average at $0.72, but the current market situation suggests opportunity. The RSI is at 35.89 and the Stochastic is at 9.52, indicating an oversold market ready for a rebound. If the bulls can break the $0.89 resistance level, ARB could rally to $1.05, up 35%. Despite a 60% decline in 6 months, there is significant potential for a bullish reversal.
Cardano (ADA) is currently trading between $0.3757 and $0.4447, offering potential growth opportunities. The nearby support of $0.3443 is bullish and provides a foundation for a bullish push. ADA faced resistance at $0.4823, but has shown resilience, rising 4% in the past month. Despite a decline of nearly 20% in the past six months, there is optimism among investors. If bulls can break above resistance, ADA could target the second resistance at $0.5513, potentially opening up a 20% or more rally. Sentiment is cautious but hopeful as traders look for signs of a trend reversal.
Uniswap (UNI) is currently trading between $6.99 and $8.11, which presents a potential opportunity for investors. Although the price has fallen more than 14% in the past month, the low RSI of 35.60 and the Stochastic of 7.88 suggest that UNI is oversold, which suggests a possible rebound. The nearest resistance level is $8.69, while the strong support level is $6.46. If the bulls regain momentum, UNI could rally to the second resistance level of $9.81, indicating a potential upside of around 40%. A further decline to the second support level of $5.35 is possible, but current indicators offer hope for a positive reversal.
Polygon (MATIC) is in a slight downtrend, currently trading between $0.47 and $0.55. Nevertheless, there are hopeful signs for potential growth. The price has fallen just over 2% in the past week and has fallen more than 5% this month, showing resilience in a difficult market. The 10-day and 100-day simple moving averages are both at $0.52, showing a stable trend. The major resistance level is at $0.59, with support at $0.44 and $0.36. The relative strength index of 53.41 suggests a balance between buying and selling pressure. If the bulls manage to break out, MATIC could rally to $0.59 or $0.67, offering a potential gain of around 20% to 30%. The overall outlook shows hope for a bullish reversal.
Notcoin (NOT) is currently trading between $0.0115 and $0.0158, offering growth potential despite recent struggles. The coin’s value has dropped nearly 20% in the past week and is down nearly 6% this month, but its impressive 6-month growth of over 550% shows strong long-term potential. The nearest resistance level is $0.0184, and a breakout could see Notcoin reach the next level at $0.0227, potentially up 40% from the current range. With the RSI at 46.3 and the MACD slightly down, the market is at a significant turning point, and if bulls regain their strength, we could see positive changes in the coming days.
conclusion
The 2024 bull market is fueled by the growing global interest in cryptocurrencies. The evolving crypto landscape, with Russia’s shift in crypto payment adoption policy and the US’s Bitcoin Reserve Plan, suggests that a bull market is on the horizon. Key coins to watch include Arbitrum (ARB), which despite recent downward pressure, shows significant rebound potential. Cardano (ADA) shows resilience and potential to break through resistance levels. Uniswap (UNI) and Polygon (MATIC) both show promising signs of recovery with potential gains. Notcoin (NOT) shows significant long-term growth potential despite recent declines. These developments could lead to significant opportunities in the crypto market.
Disclaimer: This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.
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