In recent developments, a prominent cryptocurrency analyst and trader has foreseen Ripple coin (XRP) approaching new support levels in anticipation of a substantial surge. In contrast, Render (RNDR) has witnessed a continuous decline in price over the past month, and despite the absence of clear signs of recovery, investors maintain optimism.
Simultaneously, Pullix is on the brink of securing up to $5 million, demonstrating progressive success in its presale stages. This analysis delves into the price outlooks for these cryptocurrencies and identifies the potential frontrunner as the best crypto investment for 2024.
Crypto analyst Dark Defender recently shared insights on Twitter, analyzing the price of XRP. According to the chart analysis by this renowned crypto expert, Ripple’s cryptocurrency, XRP, is exhibiting a substantial shift in market behavior.
The cryptocurrency has successfully concluded its 5 Wave Corrective Structure, a crucial technical pattern often signaling a change in market dynamics. Meanwhile, the completion of this corrective structure indicates that XRP might be on the cusp of a significant transformation.
The chart analysed in Dark Defender’s tweet also shows the immediate support level for XRP is identified at $0.5014, while resistance is observed at $0.5286. Furthermore, the introduction of Fibonacci levels adds complexity to the asset’s trajectory, highlighting additional points of interest.
Notably, support and resistance levels respectively, broaden the spectrum for potential price movements. As of writing the XRP token is currently trading in the weekly ranges of $0.53 and $0.50, reflecting nearly 6% decline in the token value.
Between December 26, 2023, and January 7, 2024, a range of $3.36 to $5.27. Initially, RNDR stayed below the midpoint of this range, but a recent surge in buying pressure propelled it above the $3.27 midpoint, turning it into a support level. As of now, Render price hovers around $4.41, aiming for a retest of the range high at $5.27.
Analysts say two potential scenarios could unfold: RNDR may move to retest the range high, influenced by NVIDIA Corp earnings in February, or RNDR could retrace into the four-hour imbalance, ranging from $4.24 to $4.19, before initiating a move to retest the range high. If NVIDIA Corp’s earnings significantly exceed expectations, Render price might surpass the $5.27 range high and reach the 161.8% Fibonacci extension level at $6.45.
Pullix (PLX), a rising DeFi project, has captured investors attention during its ongoing token presale which has now yielded an impressive 150% ROI for early investors . This innovative project merges the best attributes of decentralized and centralized exchanges (DEX and CEX), providing users with a unified platform with all trading requirements.
In addition to solving liquidity issues prominent among the vast majority of online trading platforms, Pullix also features zero percent commission and trading fees. To ensure that it stays committed to its primary course of providing sufficient liquidity, Pullix allocates a significant portion of its profits, ranging from 10% to 30%, to support the stability of its native PLX token. This initiative fundamentally alters how individuals approach the TradFi space.
With over 80 million PLX tokens valued at $5 million already sold, and a rapidly growing user base exceeding 15,000, Pullix is solidifying its position among the best new cryptos to invest in this year.
The PLX native token is currently priced attractively at $0.10 in stage 7 of the presale, marking a substantial 150% increase from the initial price offering of $0.04. Interestingly, the presale is expected to advance through one more stage where the token would further increase; hence, the current token price presents a compelling entry point for potential investors.
Looking ahead, analysts anticipate a 50% surge in February, followed by a 200% increase post-presale, and an astounding 100x surge post-launch. As Pullix gears up for a public launch in under 70 days, it introduces groundbreaking features, redefining the landscape of online trading investments.
For more information regarding Pullix’s presale see links below:
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