While the Bitcoin (BTC) price continues to move to reach the level of $ 60,000 again, more than one altcoin draws attention with its accelerated movements.
On March 19, local analyst Selcoin, who shared a video of crypto money evaluation on YouTube, announced 4 altcoins that attract attention with their sharp movements.
Outside of Bitcoin, the analyst drew attention to the names of Cardano (ADA), Avalanche (AVAX), QTUM and Chiliz (CHZ) as 4 prominent altcoins, and made price evaluations.
ADA / USD – Cardano (ADA) technique analysis
4-hour candlestick chart for ADA / USDT pair. Source: TradingView
Stating that the Cardano price is currently in a bull market view, Selcoin drew attention to the double peak that appeared on the candlestick chart. If the resistance could not be overcome, the pair warned that the peak could indicate a decline.
“Watch out for the double peak formation that will cause a decline below the $ 1 level!”
In his comment, he said, “The continuation of the bull market will not be activated unless the $ 1.38 level is exceeded.” The analyst said that if the ADA price falls below $ 1.23 twice on the 4-hour chart, a bearish signal will emerge, and this will end the bullish outlook.
AVAX / USD – Avalanche (AVAX) price analysis
4-hour candlestick chart for AVAX / USDT pair. Source: TradingView
Noting the strong transaction volume as a positive sign for the AVAX price, the analyst also stated that the altcoin has risen slowly against Bitcoin.
Stating that the first target on the bullish direction is $ 43, Selcoin suggested that profits can be made above this level.
He emphasized that if the bulls succeed in pushing the AVAX price higher and obtain a close, this time, drastic moves can be observed up to the $ 60 high.
Stating that purchases increased when the price was between $ 28 and $ 30, the analyst set the support level for AVAX, which was traded at $ 37.82, at $ 32 as the news was prepared. He said that those who make short term transactions and want to avoid risk should consider this as a “stop area”.
QTUM/USD – Qtum (QTUM) teknik analiz
4-hour candlestick chart for QTUM / USDT pair. Source: TradingView
Emphasizing that the support level for the Qtum currency is at $ 6.37, Selcoin stated that “it will continue without any problems” as long as it does not fall below this level.
He said that this cryptocurrency has high price volatility, adding that “movements between 50 and 100 percent can be seen” if transaction volumes increase.
Putting the first bullish target at $ 7.4, the expert said, “solid upward can come” if closures above this resistance are achieved.
CHZ / USD – Chiliz (CHZ) price analysis
4-hour candlestick chart for the CHZ / USDT pair. Source: TradingView
Saying that $ 0.61 is support when evaluating the price of Chiliz (CHZ), Selcoin explained that the resistance to be overcome in the short term was calculated at $ 0.70.
Advising that those who do not trade short-term to take profits should use the support and resistances in this narrow corridor, the analyst explained:
“Too much FOMO in this cryptocurrency [fırsatı kaçırma korkusu] there is. That’s why when the resistance is exceeded, there are big rises and when the resistance is not exceeded, there is a rapid decrease.
He argued that at least two 4-hour closes must occur above resistance to catch up with the uptrend.
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