Aave

Based

Cryptocurrency

Show

Drops

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-price-drops-while-aave-and-mantra-show-growth-potential/" data-wpel-link="internal">Bitcoin’s Price Drops While Aave and Mantra Show Growth Potential</a> 
Cryptocurrency Market is going through a tough period as Bitcoin’s (BTC) price has pulled back to the $64,000 level. A similar price trend is observed in major altcoins, causing significant value losses in many investors’ portfolios. However, mid-sized altcoins are showing an upward trend with increasing buying pressure across the market. Based on this, we have identified two altcoins with the potential for significant price increases in the coming months. 
<h2 style="text-align: justify" id="strong-aave-aave-strong">Aave (AAVE)</h2> 
Despite the increasing selling pressure in the <a href="https://en.coin-turk.com/key-crypto-tokens-unlock-this-week/" data-wpel-link="internal">cryptocurrency market</a>, AAVE‘s price rose by approximately 10% in the last 24 hours, with a trading volume recorded at $350.47 million. Additionally, AAVE gained 16.93% in the past week and 30.61% in the last 30 days. The altcoin has formed an ascending channel pattern on the daily timeframe and is about to test the resistance trend line. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-376517" src="https://coin-turk.com/wp-content/uploads/2024/08/Altcoin-AAVE.png" alt="" width="1435" height="755"> 
The RSI indicator is about to cross into the overbought range with an upward curve on the price chart. Additionally, the 50/200-day EMA crossover on the daily timeframe indicates a Golden Cross, suggesting a positive outlook for AAVE in the <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener" data-wpel-link="exclude">future</a>. 
If the market continues its upward trend, AAVE’s price could test the upper resistance level at $131 this month. Conversely, a downward trend could cause the price to fall to the support level at $93.75 in the coming weeks. 
<h2 style="text-align: justify" id="strong-mantra-om-strong">Mantra (OM)</h2> 
Mantra‘s OM price has also followed a similar trend to AAVE, rising by approximately 5% in the last 24 hours. Despite a correction of about 1%, it has increased by 37.40% in the past 7 days and by 1,940% since the beginning of the year. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-376518" src="https://coin-turk.com/wp-content/uploads/2024/08/Altcoin-OM.png" alt="" width="1435" height="756"> 
The MACD indicator shows a continuous decline in the red histogram, indicating increased price activity for OM. Moreover, the 50-day EMA consistently supports the price chart. These two technical indicators alone suggest that the altcoin will continue to gain value this week. 
Under bullish <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market conditions</a>, OM’s price could target the upper resistance level at $1.60 this month. Conversely, if the bulls fail to keep the price above the support trend line, the altcoin’s price could test $1.050. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-price-drops-while-aave-and-mantra-show-growth-potential/" data-wpel-link="internal">Bitcoin’s Price Drops While Aave and Mantra Show Growth Potential</a></h5>
The post <a href="https://en.coin-turk.com/bitcoins-price-drops-while-aave-and-mantra-show-growth-potential/" data-wpel-link="internal">Bitcoin’s Price Drops While Aave and Mantra Show Growth Potential</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin’s Price Drops While Aave and Mantra Show Growth Potential

Table of Contents

COINTURK NEWS

Other articles published on Aug 2, 2024

BNB Chain Announces Winners of Second BNB Incubation Alliance Round

5 Cryptos to Blow Your Mind in August

Shib X Confirms BONE Listing on WEEX, Celebrates 4th Anniversary

Whale Trader Banks Eye-Popping $16M Profit On Two Popular Meme Coins Not Named Dogecoin Or Shiba Inu

What is Ambire AdEx Coin?

BlackRock Issues Urgent Warning Over Rising Crypto Scams Targeting ETF Investors

Join our free newsletter for daily crypto updates!