We are not living very bright days for cryptocurrencies and BTC has returned below $ 58,000. It is sad but not surprising. After the opening of the US markets, we had already accepted that we could experience such a scenario. It is a matter of curiosity how these misconceptions in investors will be corrected and the upward trend will return. Let’s remember our two-scenario targets for Floki Coin, XRP and AVAX.
Floki Coin Comment
It is one of the largest meme coins by market cap and has gained a lot in the past year PEPE Coin It managed to survive because it achieved strong volume (impressive for the day). It is one of the few assets with a foundation and community in the cryptocurrency market that has become a meme coin dump (with pumpfun, sunpump).
Although $0.00011285 remains as support, closing below it Floki Coin It may bring a test of $0.00009762 for the rally. If we see deeper lower wicks, this will probably be up to $0.00006125. The level where investors will feel safe for a return will be $0.000130. The resistance to be overcome for the rally is $0.000199.
XRP Coin Comment
SEC The pieces have largely fallen into place in the case, but investors can’t sit back. Why? Because there is the potential for the SEC to appeal the court’s decision in the first week of October that “secondary market sales are not securities/investment contracts.” I recall that we announced here last year that the final decisions of the Judge hearing the case had a low appeal score. Still, this is not good news when the market is pricing in the worst.
There is a key level for XRP Coin that we have been drawing attention to since last year, at $0.577. As long as the price stays above this (parallel channel support) point, the potential for a re-uptrend continues and the target is $0.7485 and $0.9378. In the bearish scenario, the $0.54 and $0.50-0.48 ranges that we have previously written about are current.
AVAX Comment
The biggest problem for AVAX, which continues to close under the channel support at $31.38, is annual inflation. Investors are also concerned about this, despite the 2 big news that came last month (Franklin brought the RWA token, Grayscale AVAX (the trust initiated) the expected demand could not be triggered. Although it has difficulty in positive separation, it can price them in the medium and long term.
With closes below $23.1, $20.56 could be retested. In short-term increases, upper wicks could reach $25.43 and $27.8.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
