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The crypto bulls are back in charge as Bitcoin price returns to the $70k region. Investors are speculating a short squeeze ahead due to the significant size of short positions opening above the $72k range.
With the BTC trading above $70k, the prices of alts are also likely to reach new ATH this week. What are the next cryptocurrencies to explode? As the market turns bullish, investors often respond with open interest in assets with the potential for impressive upsides.
Next Cryptocurrency To Explode Monday
Priorities are often given to assets with the highest probability of returning the best value on invested capital. Thus, this article includes an overview of the Slothana presale, which is about to go on exchanges, providing all investors with information about the project.
1. NEAR Protocol (NEAR)
Near Protocol is gradually moving toward the upside, with a significant price increase in the last 24 hours. Market data of the cryptocurrencies shows it has amassed over 8% gains in the day and a trading volume increase of about 40%.
The increase has brought its price closer to the resistance level at the $7.48 price range. One of the key influencers of NEAR’s growing visibility is the upcoming event. The platform shared quick information about the event on its official Twitter handle.
A break above the level means that Near might set its high on the $8 – $9 region in the short term and higher range in the long term. There are speculations that the token could break its ATH value if the Bitcoin Bull run takes effect.
Moreover, data from NEAR’s technical analysis predicts further bullish trends. In the daily timeframe, its RSI charts trend closer to the 57 range, which is relatively neutral, given the overall pessimism across the crypt market.
The NEAR Ecosystem is headed to @token2049, Dubai, this month 🎉
The Black Dragon himself will land in the Desert to talk AI x Web3, whilst the NEAR ecosystem comes out in full force for speaking engagements, events, and more!
All you need to know:https://t.co/qRh7gXLQLQ pic.twitter.com/IXoGWimL39
— NEAR Protocol (@NEARProtocol) April 7, 2024
Moving averages are equally below its current price, particularly the 200-day EMA, which is 3.85. What this means is that the token still has more room to run. Nevertheless, investors should expect a momentary pullback due to the weakening trend, as indicated by the NEAR ADI value and MACD reading of 0.249.
Interestingly, NEAR has minimal resistance above $9, which means that its drift to the upside after the $9 range would be inevitable. Also, it would likely arrive at the double-digit value much faster than it took to break into the mid-range.
2. Lido DAO (LDO)
Lido DAO is among the top crypto gainers today, with over 15% price increase in the last 24 hours. As one of the pioneers in DeFi, LDO is positioned to take in massive profit if the return of the bull market holds. Investors can consider LDO and many DeFi 2.0 assets as some of the next cryptocurrencies to explode.
The token’s performance is evident in its surging price, but there’s also been an increase of about 130% in LDO’s trading volume over the last 24 hours. It indicates that investors’ interest in LDO is rising significantly.
Data from Lido’s technical analysis shows that the token might be eyeing the mid-range in the high level in the short run. Investors might see the token’s value climb above $4 before the end of the week, and it might move as high as $4 – $6 if Bitcoin holds its price.
Indicators applied to its chart also support the possibilities of further upsides. For example, LDO’s Oscillators, including its relative strength index, remain bullish. Similarly, the MACD reading from its chart suggests further bullish momentum for the token.
Following a @CurveFinance proposal to increase the stETH:ETH pool A Factor from 30 to 200, stETH holders can now trade many millions $ of stETH with a 1-5bps price impact.
200 A Factor 🤝 Deep stETH Liquidity 🤝 More fun for LPs pic.twitter.com/4u3CleJzLR
— Lido (@LidoFinance) April 4, 2024
On the other hand, the recent adjustment to the network governance may also have contributed to the rising value of the token. LDO now allows traders to place the higher trading volume of stETH with less impact on price. The increase in demand would create the pressure it needs to reach new value.
3. Slothana (SLOTH)
Slothana continues to mark its territory in the crypto ecosystem with impressive presale performance. Since its remarkable presale launch that raked in over $500,000 in 8 hours, SLOTH has moved on to become a meme coin sensation among degen investors. The project has amassed thousands of followers on social media and raised millions of dollars in presale funds.
Like Sloth, its mascot, the project takes a carefree approach to crypto investing, which is relatively part of its charm. This unconventional approach is reflected in its presale offering, which simply required degeners to send SOL to the wallet address posted on its website. Until now, the call for more degen investors to join the movement has been on as the presale offering remains open.
🚀 Get ready to blast off with Slothana! 🌿 We're gearing up for launch and this is your last chance to grab your $SLOTH 🌕 Don't miss out on the action as we prepare to announce our official launch date. Watch this space. #slothana #memecoin
— Slothana (@SlothanaCoin) April 8, 2024
The project is on the verge of exchange listing at the time of writing. Hence, investors can take advantage of SLOTH’s discounted price and ride the best part of degen investing. Missing out on the initial run translates to buying the top. Investors wishing to participate in the SLOTH presale can get further information from the project’s presale page or social media handle.
4. Ankr (ANKR)
Liquid stacking and restacking are among the top trending narratives in this bull market. Thankfully, ANKR is one of the pioneering space projects. The token is quickly taking its place as one of the top performers in the sector after it posted over 100% price increase in the last 52 weeks. Current trends in the crypto market show that the token will not lose momentum any time soon, as it’s amassed nearly 20% gains in the last seven days.
Ankr operates decentralized blockchain infrastructures with a global array of nodes. The platform allows users to enjoy yield-earning opportunities through various staking offers, including LST. With the infrastructure, Ankr is positioning itself as one of the top players in solving the problems of capital inefficiency in the Proof-of-Stake networks. And the project is still crucial in pioneering the future of crypto.
Eigen Layer will allow new ‘AVS’ protocols to launch with amplified speed, scalability, modularity, and security. Ankr makes it easy to launch an AVS with:
⚙️ Node Ops: Ankr is the premier node operator for AVS projects.
♻️ Restaking: Our ankrETH token allows restaking to… pic.twitter.com/kwuIHcOKRD
— Ankr (@ankr) April 1, 2024
ANKR has broken into the mid-range, with its value climbing towards its ATH value. At the time of writing, ANKR had a price of $0.064, above the resistance cluster in the $0.5 range. Therefore, the token has minimal obstruction to the $0.09 range. Investors can expect to see the price of ANKR at $0.1 before the end of the year.
More importantly, according to its ADI value, Ankr’s chart indicates strong trends. Consequently, the token can hold on to its current climb towards the upside. Moreover, its recent pullback gives it more room to climb towards the upside. It’s best to keep an eye on the token chart and watch how the trend unfolds.
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