Buy Rumors Sell Facts: As Bitcoin Gears Up For New ATH, It’s Time to Focus On Altcoins

The post Buy Rumors Sell Facts: As Bitcoin Gears Up For New ATH, It’s Time to Focus On Altcoins appeared first on Coinpedia Fintech News

In the realm of cryptocurrencies, timing and strategy are essential. As Bitcoin scales new peaks, attention shifts to the potential of alternative coins. This tactic, grounded in the principle of seizing the momentum stirred by speculation before settling with the emergence of concrete outcomes, merits a closer look. Understanding when to pivot focus can be pivotal for maximizing opportunities in the vibrant crypto space.

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Render (RNDR) Hits Volatile Range

Render (RNDR) is fluctuating between $8.80 and $10.70. Last week, there was a tiny price change of 0.11%, while the past month showed a decrease of 18.46%. However, looking at the past six months, RNDR has seen a significant jump, increasing by 435.88%. The coin’s movement indicates a mix of small corrective steps within broader impulsive trends.

The future price of Render Token could go either way. On one hand, RNDR’s strong six-month growth could continue if the demand for its rendering services rises. But, the recent one-month slide serves as a reminder that it’s not immune to pullbacks. Crossing the nearest resistance level at $11.65 might pave the way toward $13.56, while falling below the $7.83 support could lead to further drops towards $5.93. The current technical indicators suggest a balanced state of momentum without a clear direction for a breakout.

Optimism’s (OP) Price Swings and Trends

Optimism is currently moving between $2.80 and $3.64. Over the past week, OP’s price increased by 1.20%. However, looking at the past month, it has dropped 32.65%. On a larger scale, the last six months saw a strong rise of 155.37%. The price moves show a mix of short-term drops and longer-term growth. The price trend looks impulsive in the last six months and corrective in the last month.

The price of Optimism might keep facing ups and downs. With OP near the first resistance at $4.08 and the relative strength healthy at 58.10, there’s room to climb towards the second resistance at $4.92. However, the recent month’s drop advises caution. If the price falls, it could find support at $2.41, or even at the lower $1.57. The mixed signals suggest a future of both potential gains and the need for careful watching.

Polkadot Price Movement Analysis and Predictions

Polkadot has seen quite a journey recently. Over the last week, there’s been a tiny uptick of 0.356% showing some investor interest. However, the past month wasn’t as kind to Polkadot, with the price falling by 23.60%. The last six months painted a different picture, with prices surging by 127.15%. At the moment, prices are hovering between $7.95 and $9.60. The coin is currently showing a balance between buyers and sellers, with RSI around 50.03, hinting at a neutral momentum currently in the market.

On the optimistic side, Polkadot’s price could aim for the first point where sellers might step in at $10.50. If the positive trend continues, it could even test the higher resistance at $12.14. On the flip side, if the price drops, the nearest support at $7.20 would be key to prevent further declines. A break below this could see Polkadot heading down to $5.55. The recent price moves suggest a careful balance, with neither a clear impulsive nor corrective move in dominance, as indicated by the MACD Level being almost flat at -0.036.

Conclusion

The strategy of buying on rumors and selling on the facts suggests a shift in focus towards alternative coins as Bitcoin prepares for a new all-time high. While coins like RNDR, OP, and DOT may offer growth opportunities, they seem to have limited short-term potential. In this climate, BlastUP stands out with the most potential. The strength of BlastUP lies in its innovative concept, backed by the support of the robust Blast ecosystem. This positions BlastUP as a leading candidate for heightened attention and investment during the current bull run.

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