Coin World reports:
Entering July, although Bitcoin rebounded from its low point, the fear and greed index of cryptocurrencies still remains in the neutral zone, representing uncertainty about the future market trends among investors. Despite the lackluster market performance, there are still many altcoins with the potential for explosive growth.
Here are three hidden gem altcoins that are undervalued by the market and may bring profits in July, for reference only, not as a basis for investment.
MANTRA (OM): An overlooked RWA token
MANTRA (OM) is a public chain project in the real-world asset (RWA) track, providing secure and scalable infrastructure, with the goal of creating a high-liquidity RWA permissionless dApp ecosystem on-chain.
In the first two weeks of June, OM suddenly surged by 55%, reaching near $1.04, but subsequently failed to break through this resistance, followed by a sharp decline, wiping out all gains.
However, the price of OM still maintains a key support level at $0.64, which has been held for three and a half months, giving OM a chance for a rebound, especially as the current relative strength index (RSI) is approaching the buying zone.
Nevertheless, if this support level is breached, investors in OM may face huge losses, as OM could fall below $0.5, erasing half of its gains since the end of March.
Wemix (WEMIX): Token for blockchain gaming platform
Wemix (WEMIX) is a blockchain launched by the South Korean gaming giant Wemade, focusing on the blockchain gaming (GameFi) field. The Wemix ecosystem includes chain games, decentralized finance (DeFi), and NFT platforms, and has launched chain games such as “Mir 4” and the international version of “Night Crow”.
WEMIX’s performance over the past month has not been impressive, with only a cumulative increase of 7%, but it has shown bullish potential since the beginning of July.
In just the past week, WEMIX has risen by over 35% and briefly broke through the crucial resistance level of $1.38, which has been considered an important support level in the past. If this level can be reconverted into support, it will further drive the upward trend of WEMIX, with a chance to move towards $2 in the future and enter a new consolidation range.
However, if WEMIX holders sell for profit, causing it to fail to return above $1.38, the short-term bullish view will be invalidated, and WEMIX may fall to $0.98 and erase all gains from June.
Raydium (RAY): The liquidity beacon of Solana
Raydium (RAY) is an automatic market maker (AMM) and liquidity provider on the Solana chain, serving the decentralized exchange (DEX) Serum. In addition to allowing holders to participate in governance, RAY can also be staked to earn rewards or participate in the initial token offering (IDO) of DEX.
Despite the recent downturn in the overall market, RAY’s performance has been surprisingly stable.
Over the past three and a half months, RAY’s price has fluctuated between $1.82 and $1.45 and is now seeking a breakthrough. RAY’s moving average convergence divergence (MACD) has also recently shown a golden cross, which is usually considered a bullish signal.
MACD is a momentum indicator that tracks trends and can help investors identify potential buy or sell signals.
RAY is seeking a possible breakthrough of the consolidation range, with a forecast that the bulls will push the price to $1.99, which will help break the range. If RAY fails to break through, it may continue to consolidate, and the short-term bullish view will also be invalidated.
In the future, we will bring analysis of other leading projects in the race track. Those interested can follow us. I will also periodically organize some cutting-edge information and project reviews. Welcome to the coin circle to explore together. If you have any questions, you can comment, ask, or message me.
