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Fundamental signals indicate the probability of an incoming bullish trend. One of these signals is the current outflow of funds from CEX platforms as whales move BTC into custody. Ultimately, if bullish predictions materialize, the market might witness the rise of the next cryptocurrencies to explode.
Ideally, Bitcoin rallies often result in a surge in the value of several altcoins, many of which are already primed for an uptrend. Thus, Investors looking to capitalize on the altcoin rally should consider the tokens listed below.
Next Cryptocurrency To Explode
Market data and on-chain analysis point towards an imminent rally of these assets. Also, there are new crypto projects to watch for the new week. eTukTuk, for example, taps into the growing AI trend, and its fundamentals are impressive. Investors should watch its presale performance. Nonetheless, the project’s journey thus far is also documented below.
1. Sei (SEI)
DeFi assets are back on the uptrend following the recent initiative launched by the decentralized exchange platform Uniswap. Sei is described as the Layer 1 blockchain, specialized in giving unfair advantages to exchanges. The project taps into the underserved sector of the crypto market, the Decentralized exchanges. SEI is recording growing use cases, as reported on its Twitter handle.
Generally, several projects have been launched to resolve the scalability and speed issues of CEXes. However, DEXes still grapple with fundamental issues.
On the weekly timeframe, the token trades closer to its oversold range, with an RSI value of 72. However, the moving averages indicate that SEI might maintain its current bullish trend in the short term.
And here's a quick reminder of the first Sei native EVM projects from last week, making their mark on Sei's v2 Devnet.
Catch up on their stories and how they're shaping the future of Sei ecosystem: https://t.co/Kgs7LMnfjS
— Sei 🔴💨 (@SeiNetwork) February 22, 2024
Conversely, its daily moving averages show that the market is slightly bullish over the SEI token. However, long-term holders are hanging on to their tokens, which might help stabilize the token’s price until it retraces to its previous hughes. Ultimately, investors might see the value of SEI climb back to the $1 range before the end of the quarter.
2. eTukTuk (TUK)
The door to buy TUK tokens is still open for environmentally conscious investors. The project seeks to tackle the problem of climate change by focusing on providing a futuristic transport solution. Not only is it tackling climate problems, it’s also leveraging artificial intelligence solutions in the process.
"Breakout crypto eTukTuk is working on improving urban transportation in developing nations with electric vehicles and blockchain technology." – @cryptonews
Read more here: https://t.co/7hr62WePzm
— eTukTuk (@eTukTukio) February 8, 2024
With the growing interest in AI projects, eTUKTUK gives investors a chance to invest in a utility-driven crypto project and a position to catch the windfall of the growing AI trend. The TUK presale has raised over $1.3 million, and the next milestone is very much in view.
The price of the token is at a discounted value of $0.02725. Investors have only eight days to take advantage of the price before it increases again. The project’s presale page contains more details on how to participate. Moreover, it also shares information on how to benefit from staking offers.
3. VeChain (VET)
VET might be ready for another leg up. The token’s price shot up by nearly 100% earlier in the month, giving it a value of $0.04491. However, VET has been compelled to a sideways trend following the overall pessimism witnessed in the crypto market. However, its recent moves towards utility and value-added projects are putting it in a good light with investors.
VET saw a price increase of about 5% today. The trend primes the chart for a breakout of its protracted sideways trend. If VET breaks above the $0.045 – $0.05 range, the token might reach the $0.08 range or as high as $0.1. The current move by the team to incentivize more use cases of the platform would likely serve as the catalyst it needs to achieve the break.
What chance does VET have to become the next crypto to explode? VeChain is not only moving towards increasing its utility or use cases, but The community is also pushing to tap into the growing RAW sector.
Generate to Earn. #Sustainability #RWA $VET https://t.co/mkUOyXGBZK
— vechain (@vechainofficial) February 24, 2024
Real-world asset tokenization is an emerging sector in the crypto space, and it is valued to be worth trillions of dollars. With VET tapping into the space, the chance of explosive gains in the future becomes boundless. However, investors should hold back as the asset’s price is about to go through a pullback.
4. NEAR Protocol (NEAR)
Near protocol token, NEAR recently encountered rejection at the $4.2 price. The price action was mainly due to Whale Selling pressure. However, whale exit at resistance is not unusual. Primarily, it stems from market manipulation and increasing short positions, especially across highly volatile assets like NEAR. Sadly, The token price has remained below $4 for most days of the month.
Investors can, however, expect a reversal soon as the token gradually approaches the resistance again. Its moving averages indicate bullish interest as the value trends below its current price. On the other hand, the oversold signals from its relative strength index may threaten its ability to break above the resistance.
Nevertheless, investors should keep an eye on the NEAR trend. A break above the $4.2 resistance indicates that holders might rally as high as $7.
5. Arbitrum (ARB)
Many assets in the Ethereum ecosystem are replicating the increasing price of ETH. For the past seven days, ARB has consistently printed higher lows. Interestingly, Data from the ARB chart indicates that the token is poised to become one of the next cryptocurrencies to explode. Moreover, the weeks trailing its recent ATH indicate we might see more leg up in the coming months.
In the last 24 hours, ARB recorded about 2.5% price increase. Sadly, it continues to encounter resistance at the $1.87 price. A break above the resistance means that ARB might return to its ATH. Interestingly, the likelihood of a breakout is relatively high, given that the token currently trends closer to the oversold signal on its daily chart, even as it battles the resistance.
Also, signals from its long-term moving averages indicate bullish signals. Consequently, ARB’s short-term bearish trend would likely face a retrace at the $1.7 price range as the chart reveals a strong support zone.
V2 on Arbitrum 💙🤝 @Uniswap https://t.co/F8Ho6n8QL2
— Arbitrum (💙,🧡) (@arbitrum) February 23, 2024
Another initiative that might provide the needed leverage to help ARB reach its ATH is the recent debut of the Uniswap V2 on the platform. The recent pump in the value of UNI services is a pointer to what ARB holders may expect.
In addition, the community is currently pushing for more visibility, a move that would also contribute to its pumping price. Ultimately, investors should keep an eye on the ARB trend, as it’s primed for an explosive trend.
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