As Bitcoin recently gathered bullish momentum and surged beyond the $70,000 mark, other altcoins like Litecoin, Stellar, Avalanche and the new meme coin KangaMoon are also being propelled by this surge. Let us find out why.
Bitcoin price chart analysis
The Bitcoin price fought to stay over $70,000 on May 22 as Glassnode analysts speculated that the pioneer cryptocurrency was getting ready for a “bigger move” upward. Cointelegraph Markets Pro and TradingView data indicate that following a protracted decline from all-time highs, the Bitcoin price has been rising steadily, as evident on the Bitcoin price chart.
Glassnode reports that although most important on-chain measures are moving toward equilibrium, Bitcoin’s recent recovery to $71,000 is the result of “compression of volatility” and easing sell-side pressure. Glassnode analysts saw a “large decline” in the one- and two-year cohorts over the past two months using the Supply Last Active Age Band indicator.
Litecoin Price Chart Analysis
In case Bitcoin keeps rising to $73,000, the Litecoin price may have upward momentum since it recently tested the bottom limit of the daily Ichimoku cloud. The lower limit of the Ichimoku cloud serves as an important support level, and keeping a position above it is necessary to keep a bullish trend going. Should the Litecoin price be able to penetrate the cloud, it may advance toward the $93 crucial resistance level.
With further support around $85.70 as seen on the Litecoin price chart, the altcoin may go towards the major resistance level around $93. Maintaining the upward trend therefore depends on keeping above the cloud. A first line of protection for Litecoin is the 38.2% Fibonacci level at $85.09. Should this support be breached, the trend may be deteriorating and more selling pressure may be introduced.
Stellar price rises amid Protocol 21 Testnet
With the recent deployment of Protocol 21 by the Stellar (XLM) testnet, its main network made a major stride. A mainnet vote is planned for June 18, 2024, and this update includes important features like passkey signing and cheaper smart contract transactions. These improvements are meant to greatly increase the Stellar network efficiency and reduce running costs.
Moreover, the continuous dedication of the Stellar network to increasing worldwide access to and affordability of financial services is reflected in Protocol 21. Stellar is carefully improving its infrastructure to support a larger, more inclusive financial ecosystem by putting CAPs 0054, 0055, and 0056 into place, while nevertheless keeping costs low for users worldwide. Amid these, the Stellar price has seen a notable rise by 3% to $0.11 per token within the past week.
Avalanche Market Cap rises slightly amid price surge
For weeks, the Avalanche price has stayed between $30 and $40. The Avalanche price dropped to the $35 area in March after rising above $60, and it has subsequently had difficulty breaking beyond the $40 barrier. Nonetheless, recent positive trends suggest that there may be a rally to retake the $40 mark.
At $39.91, Avalanche has increased in its price by over 15% during the last week while the Avalanche market cap has also risen slightly by 0.65% to reach $15.68 billion. Moreover, the price of Avalanche might reach its March high of $60.69 if sentiment in the larger cryptocurrency market improves.
KangaMoon is one of the best meme coins to buy now
Because of its presale performance, KangaMoon (KANG) has become more well-known to the general public amid the current meme coin craze. In addition, KANG has almost hit $7 million. Furthermore, there are presently over 32,000 registered KangaMoon users. The primary goal of KangaMoon is to profit from the Play-to-Earn (P2E) gaming market, which is expected to generate $8856 million by 2028.
The group intends to develop a play-to-earn (P2E) game in which users may purchase items with KANG and level up their characters. KANG will gain from this development, and it will gain more than 99% of other hype-driven memecoins. The SocialFi aspect of KangaMoon is what distinguishes it from other projects.
Put another way, prior to debut, KangaMoon is giving out free KANG based on how much people interact on its social media channels, which include Telegram and X. As a result, a large number of individuals are appreciating and sharing KangaMoon’s social media content. Each KANG is currently valued at $0.025—400% higher than its initial pricing of $0.005—during the bonus stage of its presale.
Analysts, however, predict that KANG might rise 100x after it is listed on a Tier-1 CEX like BitMart, which has announced the meme coin’s listing. This might just be the start. Moreover, KangaMoon is already listed on CoinMarketCap and CoinGecko. Considering that fans of…
Bitcoin price chart analysis
Expand
Glassnode reports that although most important on-chain measures are moving toward equilibrium, Bitcoin’s recent recovery to $71,000 is the result of “compression of volatility” and easing sell-side pressure. Glassnode analysts saw a “large decline” in the one- and two-year cohorts over the past two months using the Supply Last Active Age Band indicator.
Litecoin Price Chart Analysis
In case Bitcoin keeps rising to $73,000, the Litecoin price may have upward momentum since it recently tested the bottom limit of the daily Ichimoku cloud. The lower limit of the Ichimoku cloud serves as an important support level, and keeping a position above it is necessary to keep a bullish trend going. Should the Litecoin price be able to penetrate the cloud, it may advance toward the $93 crucial resistance level.
With further support around $85.70 as seen on the Litecoin price chart, the altcoin may go towards the major resistance level around $93. Maintaining the upward trend therefore depends on keeping above the cloud. A first line of protection for Litecoin is the 38.2% Fibonacci level at $85.09. Should this support be breached, the trend may be deteriorating and more selling pressure may be introduced.
Stellar price rises amid Protocol 21 Testnet
With the recent deployment of Protocol 21 by the Stellar (XLM) testnet, its main network made a major stride. A mainnet vote is planned for June 18, 2024, and this update includes important features like passkey signing and cheaper smart contract transactions. These improvements are meant to greatly increase the Stellar network efficiency and reduce running costs.
Moreover, the continuous dedication of the Stellar network to increasing worldwide access to and affordability of financial services is reflected in Protocol 21. Stellar is carefully improving its infrastructure to support a larger, more inclusive financial ecosystem by putting CAPs 0054, 0055, and 0056 into place, while nevertheless keeping costs low for users worldwide. Amid these, the Stellar price has seen a notable rise by 3% to $0.11 per token within the past week.
Avalanche Market Cap rises slightly amid price surge
For weeks, the Avalanche price has stayed between $30 and $40. The Avalanche price dropped to the $35 area in March after rising above $60, and it has subsequently had difficulty breaking beyond the $40 barrier. Nonetheless, recent positive trends suggest that there may be a rally to retake the $40 mark.
At $39.91, Avalanche has increased in its price by over 15% during the last week while the Avalanche market cap has also risen slightly by 0.65% to reach $15.68 billion. Moreover, the price of Avalanche might reach its March high of $60.69 if sentiment in the larger cryptocurrency market improves.
KangaMoon is one of the best meme coins to buy now
Because of its presale performance, KangaMoon (KANG) has become more well-known to the general public amid the current meme coin craze. In addition, KANG has almost hit $7 million. Furthermore, there are presently over 32,000 registered KangaMoon users. The primary goal of KangaMoon is to profit from the Play-to-Earn (P2E) gaming market, which is expected to generate $8856 million by 2028.
The group intends to develop a play-to-earn (P2E) game in which users may purchase items with KANG and level up their characters. KANG will gain from this development, and it will gain more than 99% of other hype-driven memecoins. The SocialFi aspect of KangaMoon is what distinguishes it from other projects.
Put another way, prior to debut, KangaMoon is giving out free KANG based on how much people interact on its social media channels, which include Telegram and X. As a result, a large number of individuals are appreciating and sharing KangaMoon’s social media content. Each KANG is currently valued at $0.025—400% higher than its initial pricing of $0.005—during the bonus stage of its presale.
Analysts, however, predict that KANG might rise 100x after it is listed on a Tier-1 CEX like BitMart, which has announced the meme coin’s listing. This might just be the start. Moreover, KangaMoon is already listed on CoinMarketCap and CoinGecko. Considering that fans of…
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