5 Cryptocurrencies Expected to Make Big Moves in the Coming Days
$Kava$
According to the data, the token is up 50% in the past two weeks. The increased utility and scalability of the newly launched mainnet will definitely help KAVA's future performance. Currently, the coin’s $0.8465 support level is key for a bigger upside. The current price action of the coin suggests that a drop in value may occur in the coming days. Defending this price point will be crucial to target the $1.4 resistance level in the coming days.
$SNX$
The token is currently up an impressive 15% in a market where major cryptocurrencies are depreciating. New options market maker Lyra will also integrate Synthetix perpetuals in its Newport upgrade, which will bring more attention to Synthetix. For investors, holding $2.334 is important for future price action. However, SNX’s correlation with Bitcoin may cause problems in the short term. Nonetheless, $2.334 should hold up against any bearishness in the medium to long term.
$TRX$
Tron's HackaTron Season 4 recently concluded with winners that will help grow DeFi and cryptocurrencies as a whole. It has lifted TRX out of the market's current decline. The token’s value has risen 11 percent since last week, the data showed. The coin’s current trajectory makes it a prime target for bears. After rising for almost a month, investors should brace for a dip to $0.06544 in the short term. Nonetheless, the bulls should be able to target $0.08092 in the long-term once the bearish sentiment in the market cools down.
$CFX$
The token has rallied nearly 30% over the past two weeks, making it one of the market's top gainers for equity tokens. Currently the bulls are attempting to recover $0.3128. A return to this level would provide solid support for CFX to close above $0.4215 in the days and months ahead. However, investors and traders should monitor Bitcoin's future price action, as the two assets have historically been correlated.
$LTC$
LTC is up nearly 17% since last week. Bitcoin's move towards a tight trading range is affecting LTC's future performance. Currently, the asset is holding above $89.32, which could open the way for higher gains. In the long run, investors and traders should be able to target $100 to secure more upside.
(Data source: Christian Encila)
