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A bull run is defined by heightened demand from investors, surpassing the available supply, leading to increased market confidence and rising prices. When prices in a specific market experience a high jump, it indicates a prevailing “bullish” sentiment among investors, expressing optimism about further price increases. This situation often marks the beginning of a bull market. The upcoming Bitcoin Halving is anticipated to be a significant catalyst propelling the next bull run, which is expected to unfold in 2024.
As the prices of Bitcoin and other altcoins are pumping, let’s look at the top cryptos you can watch this week in this blog.
#1 Gala (GALA)
Gala Games is a Play-to-Earn (P2E) gaming platform based on blockchain. It integrates NFTs (Non-fungible tokens) into its blockchain ecosystem. The platform allows its users to earn GALA tokens to achieve their in-game milestones and gives them true ownership of whatever they earn.
GALA is an Ethereum and Binance Smart Chain-based native crypto of Gala Games. GALA coins are used as a medium of exchange amongst the platform’s users. These help control the network and are used as incentives for node operators. These coins also serve as prizes for players who participate in the games hosted by the platform. Players can use the GALA tokens to purchase uniquely assignable products on their marketplace, and they can use these products to improve their in-game performance.
The price of Gala (GALA) on WazirX is INR 6.6505 today. According to CoinMarketCap, the 24-hour trading volume of GALA is $1,516,735,739, with a circulating supply of 29,308,658,698 GALA and a market cap of $2,279,776,326.
The Gala price surge is attributed to robust bullish momentum, evident in significant spikes above the cup and handle pattern, signaling a sustained long-term bull rally. Despite signs of a potential reversal, the bulls showcase resilience, surpassing key resistance levels. Technical indicators remain bullish, with the Gala price flying past the 50-day and 200-day simple moving averages (SMA) and a moving average cross at $0.02155, further confirming the ongoing bullish momentum. Despite a brief dip in the bearish trend, the Relative Strength Index (RSI) rebounding from 70 to 76 underscores Gala’s prevailing intense buying pressure.
#2 Fetch.AI (FET)
Fetch.ai (FET) is an open and permissionless network that uses AI to build a decentralized machine-learning system to carry out blockchain tasks. Fetch.ai is a blockchain-based AI network.
As an interchain protocol, Fetch.ai offers a free, open, and decentralized framework that utilizes AI’s power to implement automated peer-to-peer applications without human intervention.
Fetch.ai aspires to offer a distinctive value proposition for diverse stakeholders, such as developers, financial service providers, and many other economic participants, by integrating cutting-edge technologies like Directed Acyclic Graph (DAG) and smart contracts.
The price of Fetch.AI (FET) on WazirX is INR 245.115 today. According to CoinMarketCap, the 24-hour trading volume of FET is $542,450,922, with a circulating supply of 838,026,886 FET and a market cap of $2,372,029,904.
Fetch.ai (FET) has experienced a remarkable surge, propelled by significant developments and positive market sentiment. Notably, the coin’s listing on the BTSE platform and a series of strategic activities have contributed to its substantial gains. With an impressive monthly return ratio of 426.96%, FET demonstrates a strong bullish trend. Technical indicators, including RSI and MACD, suggest a bullish outlook, paving the way for potential further gains. Currently trading at $2.97, FET aims to surpass the $3 mark, supported by robust institutional buying and increased market capitalization—the coin’s bullish trajectory positions it favorably for future advancements.
#3 Render (RNDR)
The Render platform lets users earn money by selling their unused computing power. Users can set up their node (computer) and rent their computing power to other users or studios for passive income. The rendering method makes it simple for content delivery networks to seamlessly provide content to end users while also assisting artists in rendering their work. The inventor and the GPU service provider may easily keep track of their activities on the Ethereum blockchain thanks to the complete process of tokenizing computing power using RNDR – an ERC token.
The price of Render (RNDR) on WazirX is INR 1,100.22 today. According to CoinMarketCap, the 24-hour trading volume of RNDR is $584,693,783, with a circulating supply of 380,642,150 RNDR and a market cap of $4,691,682,339.
Render Token’s surge in price results from its pivotal role in rendering solutions and active engagement in decentralized AI dialogues, aligning with the overall positive market sentiment. Boasting a high Fear/Greed index at 79 and a robust 24-hour volume-to-market cap ratio of 0.3234, Render Token ensures favorable liquidity. With a 67% success rate in positive price movements over the last 30 days and consistent trading activities surpassing the 200-day simple moving average by 329.75% at $2.68, the Token demonstrates sustained bullish trends. A stellar year-long surge of 1,110% positions Render Token for ongoing growth, projected to surpass $100 by 2030 and potentially achieve a new all-time high in the current rally.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
