Points
- Dogwifhat （WIF）, Worldcoin （WLD）, and Bittensor （TAO） are the biggest altcoin gainers.
- WIF saw a 70.41% increase, driven by positive market momentum.
- Worldcoin’s price rose by 49% due to changes in its token unlock schedule.
For the second consecutive week in July 2024, bullish events have significantly boosted altcoin prices. Leading the pack are Dogwifhat （WIF）, Worldcoin （WLD）, and Bittensor （TAO）, which have seen impressive gains.
Beincrypto
Dogwifhat （WIF）
Dogwifhat （WIF） has experienced substantial growth, with its price increasing by 70.41%. Starting the week at around $1.50, WIF fluctuated between $1.50 and $1.70 before breaking out on July 15 as the Relative Strength Index （RSI） crossed above the signal line. Currently, WIF faces resistance around $2.46 but could reach $2.77 or $3.08 if the bullish trend continues. However, a decline in Bitcoin’s price could invalidate this prediction, potentially pushing WIF down to $2.03.
Beincrypto
Worldcoin （WLD）
Worldcoin （WLD） secured the second spot with a 49% increase, currently trading at $2.61. The project’s recent changes and extended token unlock schedule have contributed to this price rise. Despite a brief surge to $3.28, Worldcoin formed a descending triangle, indicating a potential breakout. The Awesome Oscillator （AO） suggests increasing momentum, with a possible price target of $3.04 if the uptrend continues.
Beincrypto
Bittensor （TAO）
AI-themed token Bittensor （TAO） joined the list of top gainers with a 35.40% increase. After forming an ascending channel, TAO broke the $300 mark for the first time since June 21. The price growth is linked to the surge in AI-related cryptos. Currently, TAO trades at $328.43, with the On Balance Volume （OBV） indicating strong buying pressure. If this trend continues, TAO could reach $371.21.
Conclusion
The altcoin market continues to benefit from positive sentiment and bullish trends, with Dogwifhat, Worldcoin, and Bittensor leading the gains. Investors should watch for key support and resistance levels to gauge future price movements.
解説
- Altcoin Performance: The significant gains in altcoin prices reflect positive market sentiment and investor confidence in these projects.
- Technical Indicators: Tools like the Relative Strength Index （RSI） and On Balance Volume （OBV） provide insights into market momentum and potential price movements.
- Market Trends: Understanding market trends and key events, such as token unlock schedules, is crucial for predicting future performance and making informed investment decisions.