Altcoins at the Foothill of Huge Explosion: Prices of WLD, AR & INJ Could Rise 20% in the Next Few Days

Altcoins at the Foothill of Huge Explosion: Prices of WLD, AR & INJ Could Rise 20% in the Next Few Days

The post Altcoins at the Foothill of Huge Explosion: Prices of WLD, AR & INJ Could Rise 20% in the Next Few Days appeared first on Coinpedia Fintech News

The crypto markets appear to have been taken over by the bulls as the major tokens have risen above their crucial resistance zone. Bitcoin rose above $65,000, while Ethereum was above $3,500, & XRP, which remained passive for quite a while, has soared by over 40% in the past couple of days to reach $0.6. The ascending trend has been captured in most of the altcoins, while Worldcoin (WLD), Arweave (AR) & Injective (INJ) lead the rally. Here is what’s awaited for these tokens in the next few days. 

Worldcoin (WLD) Price Analysis

The Worldcoin price has been trading within a falling wedge ever since it marked a new ATH close to $12 in the last few days of Q1 2024. The recent price action has assisted the price in breaching the upper resistance of the wedge, surpassing the crucial resistance zone between $2.21 and $2.39. The market sentiments have changed, but the technicals suggest the bulls may remain passive for a while, which may offer some scope for a bearish pullback. 

The price broke out of the wedge with a significant increase in the volume but the current volume suggests the bulls have taken a step back. Meanwhile, the RSI is about to reach the upper threshold, which may attract bearish forces. Besides, the DMI has undergone a bullish crossover but the drop in ADX suggests the rally may remain consolidated above the gains. Therefore, the WLD price is expected to maintain a horizontal consolidation between $3 and $3.3 and trigger a fresh upswing to $4.4 during the next bullish rise. 

Arweave (AR) Price Analysis

Arweave had formed a strong base of around $25, which helped the rally trigger a rebound during the bearish attack. The Mt. Gox & the German terror compelled the price to drop below $20. However, the recent price action has brought the altcoin within the bullish range and raised the expectation of maintaining a decent ascending trend for a few more days. 

The AR price has reached one of the major resistance around $30 to $31.5 which may act as a strong base, once cleared. The buying volume is slowly rising which may keep up the bullish hopes for the rally. Moreover, the supertrend just flashed a buy signal indicating a clean flip of the trend. Therefore, the AR price appears to be primed to maintain a healthy ascending trend and rise above $40. However, if the bulls maintain a similar trend, marking new highs above $50 may not be a tedious job for the bulls. 

Injective (INJ) Price Analysis

Injective price has displayed acute strength since the start of the year and hence the recent flip is expected to revive a fine ascending trend hereafter. The bears have engulfed the rally to a large extent but the recent price action suggests the bulls have regained their dominance. Therefore, the INJ price is expected to maintain a strong ascending trend with a drop bearish interference. 

The INJ price has risen above the lower support zone and recorded consecutive bullish candles. Although the volume is below the required levels, the OBV is maintaining a steep ascending trend. Besides, the lead span B of the Ichimoku cloud is heading towards the lead span A and a healthy cross-over indicates the beginning of a fresh ascending trend. However, the INJ price may be out of the reach of bears, once it secures the resistance zone between $30.77 and $32.12, which appears to be on the horizon.