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The euphoria in the crypto market dropped to almost the lowest level since the bull market’s start, as the Fear/Greed index rating fell below 80. This value was last seen in the previous year’s fourth quarter when the market began anticipating the ETF approval. Still, several assets beat their way toward becoming the next cryptocurrencies to explode.
However, the current downturn in the crypto market is not due to SEC activities. It may be associated with several factors. Generally, the sideways BTC price trend and the macro economy’s overall outlook contribute primarily to the depressing value of altcoins and the crypto market.
Next Cryptocurrency To Explode
Before the halving date, it is best to take a position in promising cryptocurrencies. A recent post on Smog’s official Twitter page shows that the project debuted on several exchanges. Historically, crypto tokens are known to post dramatic surges in price upon listing on new exchanges. This post offers a quick overview of SMOG’s trends and what investors should pay attention to.
1. LCX (LCX)
LCX is on track to becoming one of the top-performing cryptocurrencies this season with its remarkable uptrend. LCX has consistently outperformed the market since the start of the bull market. Surprisingly, the token remains upbeat despite the overall price decline.
The LCX token’s competitive edge comes from the LCX exchange’s growing popularity. The platform positions itself as one of the fastest-growing regulated exchanges worldwide. The exchange supports several cryptocurrencies, which makes it a venue for thousands of users who wish to trade cryptocurrencies on a trusted platform.
Over the past 7 days, LCX has gained an 8% price increase, bringing its YTD gains to over 360%. In the last 24 hours, the price of LCX has increased by over 5%, putting it in the $3.5 support cluster.
As the LCX token trades near its support, many traders anticipate returning to the $0.4 – $0.5 range. Data from LCX technical analysis further validate the likelihood of a retrace. At the time of writing, the token’s ADI remains strong, with a value of 43, indicating that its current trend might hold much longer.
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Similarly, LCX posts a MACD reading of 0.0270, another bullish indicator. In addition to the Bullish signals from its oscillators, LCX EMA and SMA values remain bullish as they trend below their current price. Hence, the bulls can maintain the upper hand as the token returns to the $0.5 range. At the current pace, investors might see the LCX token in the neighborhood of $1 before the end of the year, particularly if the bull market returns.
2. Chiliz (CHZ)
Is Chiliz the next cryptocurrency to explode? Chiliz is one of the earliest projects that attempted to help sports lovers and entertainment enthusiasts profit from their hubby. Before the popularity of the SocialFi narrative, the Chiliz network had been trying to help clubs and entertainment outfits reward their fans. With the arrival of the SocialFi trend, Chiliz is one of the Front-runners in the sector.
Since the start of the bull run, the price of Chiliz has witnessed over 2.5x increase, making it one of the best-performing assets in the market. Nevertheless, the ongoing sideways in the crypto market may have forced Chiliz to shed some of its gains.
Chiliz’s downtrend might, however, not continue for long as recent market data shows that the token is relatively primed for further uptrend. In the last 24 hours, Chiliz posted gains of over 5%. It indicates that the Bulls are fighting hard to regain the upper hand in the market.
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— Chiliz ($CHZ) – The Sports Blockchain ⚽🏆 (@Chiliz) April 2, 2024
The potential of the bulls taking over the Chiliz market trend is evident in the crypto’s on-chain activities. Data from its network shows increased retail holders of the token against the whales, indicating a growing popularity and market interest.
Similarly, a post on its official Twitter reveals a new token listing on the Transak platform. It means that Chiliz now has exposure to over 4.5 million users of the Trasak platform worldwide. Hence, there’ll likely be an increase in the demand for the Chiliz tokens in the future.
3. Smog (SMOG)
Smog is one of the top trending cryptocurrencies to watch during this period, as recent activities suggest that it might become the next cryptocurrency to explode. A recent update on the project’s official Twitter handle shows it has completed its listing.
🚀 Exciting News Incoming! 🌟
Get ready, #Dragons! Something BIG is happening soon. 🐉
What do you think it could be?
Vote now and stay tuned for updates!
— SMOG (@SMOGToken) March 27, 2024
Smog’s listing on MEXC would likely give it a fresh round of rallies. The project saw a price increase of over 20% after the rally and is currently on a retrace. Smog holders may see a fresh uptrend with the growing anticipation of the halving bull market. It may lead to the token breaking the ATH value, as it’s only 54% below the range.
Besides its exchange listing, the SMOG airdrop is another factor that would likely fuel the bullish momentum, which has generated significant visibility for the project. The project has included trading activity as part of the qualification criteria for the airdrop. The token would likely increase the trading volume. Hence, a complementary increase in the price of the asset.
4. Realio Network (RIO)
The Realio platform is an end-to-end, blockchain-based SaaS platform for the issuance, investment, and life-cycle management of digital securities and crypto assets. It aims to combine access to a 100% on-chain decentralized (p2p) exchange with the features of an issuance/investment platform to merge enterprise-grade blockchain and cryptocurrency solutions with institutional-quality investment vehicles.
Realio Network is one of the first iterations of the Real World Asset (RWA) tokenization move in crypto. The project initially explored how to bring institutionally quality investment on-chain. However, the concept was relatively earlier than when it launched and thus got scant reception in the market.
Nevertheless, the trends for RIO are different now. The project has maintained a consistent price pump in the last 16 weeks, which gives it over a 200% price increase. The project has surpassed several price milestones in the past 30 days, and it’s currently trading close to its 52-week high value. If the bulls continue the current pump, RIO will likely post new highs before the end of the month.
"Now, tokenization of real-world assets (RWAs) could be set to do for crypto what ETFs have done for stocks." 🌎https://t.co/S5mytSBG5N
— Realio (@realio_network) April 2, 2024
According to data from RIO technical analysis, there might be a mixed trend ahead of the RIO token. At the time of writing, we’ve seen an RSI reading of about 60, which shows that the asset is neither oversold nor undervalued.
The trend indicator, ADI, shows that the current trend is quite strong, with a value of 52. The RIO chart signals bullish momentum as the EMA200 remains below its current price. Ultimately, the investors might see the token back in the $3 range before the end of the month.
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