Which coins is going to raise in price in the next few hours

Answered at Sep 27, 2024

Which Coins Are Going to Raise in Price in the Next Few Hours

Based on the available information and current market trends, several cryptocurrencies show potential for short-term price increases in the coming hours. However, it's important to note that cryptocurrency markets are highly volatile and unpredictable, especially in such a short timeframe.

Altcoins Showing Bullish Signals

Several altcoins are displaying positive indicators that could lead to price increases:

  1. Cardano (ADA): Currently above overhead resistance and approaching the 0.236 Fibonacci retracement level. A recent TBO Open Long signal suggests the start of a bullish trend.

  2. Shiba Inu (SHIB): The On-Balance Volume (OBV) is trending above the white moving average, and the price has surpassed the 0.236 Fibonacci level.

  3. Avalanche (AVAX): Close to breaking above the daily TBO Cloud, which could signal the beginning of a strong bullish trend.

  4. TON: Recently showed a TBO Close Short signal on the daily chart, potentially indicating the end of a bearish trend and the start of a bullish reversal.

  5. NEAR and ICP: Both showing strong upward momentum and are close to breaking out of their daily TBO Clouds.

  6. FET and APT: Have already broken above their respective daily TBO Clouds, with increasing volume and bullish OBV trends.

  7. STX and WIF: Displaying strong bullish signals, with STX above the daily cloud and WIF showing bullish momentum in volume and OBV.

Market Breadth and Sentiment

The overall crypto market is showing signs of expanding breadth, which typically indicates a healthier and more sustainable bullish momentum:

  • Only 4.7% of tokens are in a strong downtrend, the lowest since January.
  • More coins are participating in the broader market rally.
  • Stablecoin dominance is falling, suggesting that capital is rotating into riskier altcoins.

Bitcoin's Influence

While altcoins are showing promising signs, Bitcoin's movement will likely dictate the overall market direction:

  • Bitcoin is consolidating in a tight range, just 1.4% away from testing a key support line.
  • The next move in Bitcoin could determine the direction for the entire crypto market.

Short-Term Trading Considerations

For traders looking to capitalize on potential short-term price increases:

  1. Timing is crucial: Use technical indicators and charts to identify potential entry and exit points.
  2. Manage emotions: Avoid impulsive trading driven by fear or greed.
  3. Stay informed: Keep track of market news and events that could impact crypto prices.
  4. Use appropriate tools: Reliable trading platforms and technical analysis tools are essential for short-term trading.

Risks and Cautions

While several coins show bullish signals, it's important to remember:

  • Short-term price movements are highly unpredictable.
  • The crypto market is known for its volatility.
  • Past performance doesn't guarantee future results.
  • Always practice proper risk management.

In conclusion, while several altcoins are showing bullish signals that could lead to price increases in the next few hours, traders should approach the market with caution. The overall market sentiment appears positive, with expanding market breadth and increasing risk appetite. However, Bitcoin's next move will likely play a crucial role in determining the short-term direction of the entire crypto market. As always, thorough research, careful analysis, and prudent risk management are essential when engaging in short-term crypto trading.