Binance, the world’s largest cryptocurrency exchange, has significant influence when it comes to the price movement of altcoins, and listing on the exchange tends to provide credibility to any asset. This is the case with SLERF and Secret (SCRT).
The latest announcement led to a massive increase in the prices of these tokens, which also increased investor interest.
Binance Lists Two New Tokens
Binance recently announced the listing of SLERF and SCRT tokens on Binance Futures. Trading of these tokens will be open with 75x leverage starting November 21st. The listing of SLERF and SCRT on this exchange has attracted investor interest.
The listing expands the scope of application of these crypto tokens. Naturally, this provoked a massive increase in their prices.
SCRT price rose 30% in the last 24 hours, peaking at $0.41 before falling to $0.34. This marks a significant recovery for the altcoin after recent corrections; signaling renewed bullish momentum as investors turn their attention back to the asset.
The rally helped the altcoin recover some of the losses it suffered after last week’s 90% surge. The cryptocurrency is currently trading above the critical $0.30 support level, providing the basis for a potential move higher if market conditions remain favorable.
To maintain momentum, SCRT must break through the $0.37 resistance and turn it into a support level. However, a fall below $0.30 could negate the bullish outlook, potentially leading to a further correction and stalling the recent recovery.
SLERF Price Forecast: No Highs
In the last 24 hours since the announcement, the price of SLERF has increased by 47%, and the token is now trading at $0.429. This sharp rise highlights strong investor interest and bullish momentum, making SLERF one of the best-performing cryptocurrencies on the market today.
To support this rally, SLERF needs to move $0.422 to a strong support level. Reaching this will allow the token to break through the $0.480 resistance level, setting the stage for a potential rally to $0.500, further strengthening its recent gains and appeal among investors.
However, failure to establish the $0.422 support level could reverse SLERF’s progress, causing prices to fall. If market conditions cool and the altcoin loses this critical support, SLERF could fall to $0.272, erasing its recent gains and invalidating the current bullish outlook.
