The cryptography market with solid signs of an upcoming Altcoin season, investors accumulate their choice of tokens. Dropstab data is currently showing 59 altcoins that flash the accumulation sign.
During the accumulation phase, negotiation volumes increase and the price remains in a specific range for an extended period. This often leads to unsuccessful attempts to burst in both directions. However, emerging signals are starting to indicate a potential direction.
Beincrypto analyzed three of these tokens from Dropstab graphics which show strong accumulation signals this week.
Pepe (pepe)
The PEPE price is currently at $ 0.0000,1257, holding over the crucial level of support of $ 0.0000,1216. Altcoin recently dropped by the support of 0.00001389, destroying part of the gains made earlier this month. This price action suggests that short -term volatility can continue for Pepe.
Over the past nine days, Pepe has been in an accumulation phase, suggesting that investors consider it an Altcoin to buy. Although the price is vulnerable to minor fluctuations, a significant drop seems unlikely.
If Pepe manages to bounce at $ 0.0000,1216, he could recover and target a retest of $ 0.00001389 in the near future.
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However, if Pepe falls thanks to its current support of $ 0.0000,1216, the price could drop more to 0.00001152 or less. A movement below this level could indicate an additional lower pressure, invalidating the upward perspectives of the token and suggesting potential losses for investors.
Convex finance (CVX)
The CVX showed a strong momentum in last week, with an increase of almost 21% in the last 24 hours. This accumulation phase suggests that Altcoin is gaining ground on the market, indicating growing interest and additional short -term increase in movement.
Currently trading at $ 5.85, CVX tests the resistance level of $ 5.88. The parabolic SAR under the candlesticks indicates an upward trend, which could push the price above $ 6.00 if the upward trend continues.
However, if CVX meets lower lower market conditions, the price could fall to $ 4.16, erasing recent gains. A decrease through this level of support would invalidate the current thesis, signaling the potential for the drop in risk for Altcoin.
Tezos (XTZ)
XTZ is currently negotiated at $ 0.89, now its position higher than the key support of $ 0.87 in the last two days. This stability is attributed to the current accumulation phase observed during the last four days, which suggests that Altcoin could prepare for a more ascending dynamic.
The EMA of 50 days and 200 days are approaching a golden cross, a bullish signal which could indicate additional prices growth. If the 50-day EMA crosses the 200-day EMA, it will probably push the price of XTZ over $ 0.99, perhaps reaching $ 1.08, strengthening the upward trend.
However, if XTZ does not hold the support of $ 0.87, the price could decrease to $ 0.76. A drop below this level would invalidate the bullish perspectives, signaling a new potential for dropping for cryptocurrency.
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In accordance with the Trust project guidelines, this price analysis article is for information purposes only and should not be considered as financial or investment advice. Beincrypto is committed to exact and impartial reports, but market conditions are likely to change without notice. Always carry out your own research and consult a professional before making financial decisions. Please note that our terms and conditions, our privacy policy and our non-responsibility clauses have been updated.
