The positive mood towards cryptocurrencies is sparking substantial surges in the prices of alternative coins, as many reach record highs and draw attention from investors. Notably, there are some specific tokens that distinguish themselves due to factors other than just price increases.
In the last day, BeInCrypto has scrutinized and examined three cryptocurrencies that have attracted interest and seen an increase in popularity.
Litecoin (LTC)
Today, Litecoin, known as Bitcoin‘s ‘silver,’ was one of the standout altcoins due to a notable achievement. The application for a Canary Capital-backed Spot Litecoin ETF has been filed with the SEC by Nasdaq, an event that has sparked considerable interest in this established digital currency.
After this latest update, Litecoin’s value jumped by 19%, peaking at $139 during writing. This increase enabled Litecoin to break through the significant $136 threshold. The next objective for Litecoin could be converting $147 into a support level, which might open up possibilities for an advance towards $150 and beyond.
Conversely, if investors decide to cash in on their profits, there could be a downturn. If Litecoin fails to maintain its current upward trend, it may dip below $136 and challenge the support at $117. Such a decrease would call into question the bullish forecast and undo recent advancements.
Fartcoin (FARTCOIN)
Today, FARTCOIN attracted notice due to a substantial increase in its value. The meme coin reached a peak during the day that almost matched its record high of $1.61, but it didn’t quite manage to break or test this level. This upward trend suggests that if the momentum continues, there could be more growth potential for FARTCOIN.
After experiencing a 21% increase during the day, FARTCOIN has since dropped back to $1.40. Nevertheless, this cryptocurrency still holds promise to surpass its former record high. If the bullish trend continues, FARTCOIN might break through its all-time high (ATH) and strive for a new peak at $1.80, attracting investor attention.
If the market’s opinion shifts negatively, there could be a decrease in the value of FARTCOIN. In case FARTCOIN fails to maintain its current support, it might plummet to $0.98. This decline would contradict the optimistic forecast and cause substantial losses for its investors.
ai16z (AI16Z)
Investors are taking notice of AI16Z, not due to positive advancements, but because of its recent downward trend. Unlike the general cryptocurrency market which has been on an upward trajectory, AI16Z’s price has seen a significant drop, going against the prevailing market momentum.
The digital currency named AI16Z encountered a refusal to rise at the $1.58 barrier, causing it to drop by 18.49% within the last day. If this downward trend persists, there’s a possibility that AI16Z might dip below its crucial support of $1.19. Such a fall could initiate a more significant slide towards approximately $0.08, sparking worries among investors.
If the price of AI16Z bounces back from its $1.19 support, it could indicate a recovery. In that case, the altcoin might regain its upward trend, potentially reaching $1.58. Breaking through this resistance level would contradict the bearish forecast and boost investor trust.
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2025-01-17 14:54