Close Menu
  • Home
  • News
  • Bitcoin
  • Altcoin
  • Ethereum
  • Ripple
  • AI
  • All posts
What's Hot

Discover Profitable Long/Short Strategies Through Newly Launched Altcoin ETFs

Jun. 18, 2025

U.S. Actions Influence Global Dynamics Amid Rising Tensions with Iran

Jun. 18, 2025

Powell’s Federal Reserve Address Influences Cryptocurrency Markets with Unpredictable Changes

Jun. 18, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram Pinterest YouTube
Coin Nest
  • Home
  • News
  • Bitcoin
  • Altcoin
  • Ethereum
  • Ripple
  • AI
  • All posts
Subscribe
Coin Nest
You are at:Home ยป Altcoins Strive to Gain Market Momentum for Potential Profits
Altcoin

Altcoins Strive to Gain Market Momentum for Potential Profits

By adminMay. 27, 2024No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Altcoins Strive to Gain Market Momentum for Potential Profits
Altcoins Strive to Gain Market Momentum for Potential Profits
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin (BTC) and Ethereum (ETH) are poised for a potentially bullish week, while altcoins Synthetix (SNX) and Ethereum Naming Service (ENS) are seeking additional market momentum for a rapid rise. The recent approval of spot Ethereum ETFs in the US has boosted market sentiment, leading to an optimistic outlook for these altcoins. This recovery anticipates a potential bullish wave that SNX and ENS investors are eagerly preparing for, expecting significant gains.

Contents
ENS: Upside Potential of 60%
SNX Prepares to Reach $4 Region
ENS: Upside Potential of 60%
Last week, the price of ENS witnessed an impressive 80% jump, forming a bullish engulfing candle on the weekly chart. This movement indicates a strong bullish trend that has overcome the bearish effects observed last month. Visit NEWSLINKER for the latest technology news.

The altcoin’s price has surpassed the 23.60% Fibonacci retracement level, and buyers are now targeting the $28 supply zone. A successful breakout at this level could lead to the price extending to the $41.58 50% Fibonacci level. If the bullish momentum continues, ENS’s price could reach the psychological $50 level by the weekend.

SNX Prepares to Reach $4 Region
Amid the market’s bull run, Synthetix’s SNX has also gained momentum, setting the stage for a recovery rally. Last week, SNX saw a 17% price increase, completing a morning star formation on the weekly timeframe. This formation indicates a potential trend reversal, significantly increasing the chances of a prolonged recovery.

If this recovery continues, SNX is expected to challenge the $5 supply zone for a significant breakout, further strengthening its bullish outlook.

Technical analysis of both ENS and SNX charts reveals strong bullish formations and significant potential for further gains. The bullish engulfing candle formation and surpassing key Fibonacci levels for ENS indicate a significant upward movement. Similarly, the morning star formation in SNX suggests a potential trend reversal as the altcoin prepares to break critical resistance levels.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap.

Disclaimer: The information provided in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleElon Musk Successfully Secures $6 Billion Investment for xAI, an AI Venture
Next Article Alchemy Pay Collaborates with Kontos to Enhance Fiat-Crypto Payment Solutions
admin
  • Website

Related Posts

Discover Profitable Long/Short Strategies Through Newly Launched Altcoin ETFs

Jun. 18, 2025

Arthur Hayes Predicts an Increase in Demand for Stablecoins

Jun. 18, 2025

LF Labs Guides Ambitious Crypto Market Initiative on Its Fourth Anniversary

Jun. 16, 2025
Leave A Reply Cancel Reply

Latest Posts

Discover Profitable Long/Short Strategies Through Newly Launched Altcoin ETFs

Jun. 18, 2025

U.S. Actions Influence Global Dynamics Amid Rising Tensions with Iran

Jun. 18, 2025

Powell’s Federal Reserve Address Influences Cryptocurrency Markets with Unpredictable Changes

Jun. 18, 2025

Federal Reserve and Trump Impact Global Markets with Significant Announcements

Jun. 18, 2025
Don't Miss

GPT Usage in Global Chat: Leading Nations and Turkey

Mar. 22, 2024

In today’s modern world, digital communication has become an integral part of our daily lives. The u…

Transformation of Cryptocurrency Trading through Artificial Intelligence

Mar. 24, 2024

Artificial Intelligence Models Influence Cryptocurrency Portfolios Formation

Mar. 25, 2024
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Website Introduction
Website Introduction

Explore the future of cryptocurrency: Coin Nest is your ultimate resource, providing in-depth coverage, insightful analysis, and cutting-edge trends to keep you abreast of the latest developments in cryptocurrencies like Bitcoin, Ethereum, and more.

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

Discover Profitable Long/Short Strategies Through Newly Launched Altcoin ETFs

Jun. 18, 2025

U.S. Actions Influence Global Dynamics Amid Rising Tensions with Iran

Jun. 18, 2025

Powell’s Federal Reserve Address Influences Cryptocurrency Markets with Unpredictable Changes

Jun. 18, 2025
Most Popular

GPT Usage in Global Chat: Leading Nations and Turkey

Mar. 22, 2024

Transformation of Cryptocurrency Trading through Artificial Intelligence

Mar. 24, 2024

Artificial Intelligence Models Influence Cryptocurrency Portfolios Formation

Mar. 25, 2024
© 2025 Coin Nest All rights reserved.
  • Home
  • News
  • Bitcoin
  • Altcoin
  • Ethereum
  • Ripple
  • AI
  • All posts

Type above and press Enter to search. Press Esc to cancel.