Which Altcoin to buy today January 18th: SOL, BLUR, XAI

Uncertainty hangs in the air, even altcoins have not escaped the bloodbath. Bitcoin price The drop below $42,000 sent shockwaves through the market, leaving investors scrambling to find their footing. But amidst the darkness, opportunity shines. Identifying the gems that can rise from the ashes of this correction could mean the difference between winning and losing.

This article will highlight three promising altcoins: Solana (SOL), Blur (BLUR), and Xai (XAI). We will analyze their technical charts, identify key entry points for dollar-cost averaging (DCA), and unlock their potential for both short- and long-term speculation. Remember, in the cryptocurrency game, even a brutal bear market can pave the way for future bull runs. So let’s dive in and find the hidden ones the best cryptocurrency to buy diamonds.

Advised: January 18 Cryptocurrency Price Prediction: MATIC, ARB, LDO

Solana: Prospecting on the next big breakout

As one of the most loved tokens among institutional investors, Solana tends to offer unbeatable returns. In the third quarter, the smart contracts token exploded from $20 to an incredible high of $126.

Although the rally has been halted, leading to a decline below the important key $100 level, investors can still secure positions in SOL which could offer promising returns.

Trading at $98 during U.S. business hours on Thursday, SOL finds itself at a crossroads. A new resistance test at $100 has the potential to make the token more attractive to investors. However, a failed breakout could further dampen optimism and result in another invasion of the lower $90 and $85 support areas.

SOL Price Chart | Tradingview

While Solana may offer the potential for higher returns, it is advisable not to enter at the market rate. An established crossing of the $100 threshold could mark an excellent turning point and pave the way for further gains.

At the same time, lower support areas such as $90 and $85 could serve as potential entry points to capitalize on the DCA strategy. Rebound from these areas would imply maximum gains Solana price rises towards ATH.

The Blur Price Rally hits the break, here’s what’s next?

Investors betting on the NFT sector should consider Blur. The token powers a widely known marketplace and aggregator platform that offers advanced features such as real-time price feeds and portfolio management.

After exploding a staggering 36% over the past 30 days, Blur trades at $0.67. Over the past 24 hours, the token has rallied a further 2.2%, supported by a 2.7% increase in trading volume to $838 million and a 3% increase in market capitalization to 404 Millions of dollars.

This increase in activity underlines growing investor interest and appetite for risk and could be the gateway to an expected rise to $5 – the ATH.

Meanwhile, Blurred price is facing increasing selling pressure triggered by highly overbought conditions and the prevailing doldrums in the cryptocurrency market.

Blurred Price Prediction Chart | Tradingview

The Moving Average Convergence Divergence (MACD) indicator reinforces the worsening bearish situation. Some traders may choose to short Blur based on the sell signal and the loss of the support at $0.7.

Bulls need to move first to protect the 20 EMA support and ensure that Blurs do not slip below the purple band.

The presence of a rising wedge pattern could strengthen selling pressure and lead to a long slowdown towards support areas below $0.6 and $0.55, respectively.

Taking advantage of dips, especially now that the cryptocurrency market is generally dull and bleeding could prove profitable in the coming weeks.

Is Xai’s price consolidation in the new range a prelude to further gains?

Investors continue to seek exposure to Xai, a token recently listed on Binance, a leading cryptocurrency exchange. After the launch, XAI collapsed to $0.45 before extending the rally to $1.2.

The seller’s situation at $1.2 was tested twice, but without success, with the latest attack reporting losses at $1.

Xai price it is currently trading slightly above $1 and holding below the confluence resistance created by the 50 EMA and the 20 EMA.

Xai Price Chart | Tradingview

If traders bet on a bearish outlook supported by a sell signal from the MACD, Xai could end the day below its immediate support.

Such a move could lead to further pain as losses widen towards $0.9 and $0.8 or allow bulls to sweep out new liquidity and support the third attack at the $1.2 resistance. This breakout could have the potential to cause XAI to explode to a new ATH and even pave the way for price discovery.

Related articles

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  • Sui Price Prediction as Bulls Hold at $1.26, Expecting Another Massive Breakout?
  • This is why Ethereum price could outperform Bitcoin’s recovery in the near term

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