NEO, TON, LTO, and ENA Costs Skyrocket: Is Altcoin Season Right here?

• NEO’s overbought standing may drive the worth down, whereas LTO’s value may commerce between $0.23 and $0.25.
• TON’s value may pull again to $6.11 however the Fibonacci indicator prompt an increase to $9.56.
• With rising shopping for momentum and cash move, ENA may bounce to $1.50.

Within the final 24 hours, the overall crypto market capitalization jumped by 3.59% and hit an unbelievable $2.68 trillion. As anticipated, the costs of many cryptocurrencies elevated. Nonetheless, one notable remark was what number of altcoins rallied impressively throughout the similar interval.

For instance, Neo (NEO) jumped by 38.36%. Toncoin (TON) flipped Cardano (ADA) after its value elevated by 27.92% to change into the ninth most dear cryptocurrency. 

LTO Community’s (LTO) value elevated by 7.24% whereas its buying and selling quantity spiked, indicating excessive curiosity within the token. Lately-launched Ethena (ENA) was one other token pumped as its value rallied by 16.34%. Right here’s what led to the hikes from a technical perspective and the way far the costs can transfer.

NEO

NEO’s value at press time was 21.47. On the 4-hour chart, a bullish engulfing candle appeared when the worth was at $15.09, indicating that the bears had no say within the value motion. In the meantime, the Bollinger Bands (BB) confirmed excessive volatility across the token, such that the higher band tapped NEO because it approached $22.

A scenario like this implies that NEO was overbought. Therefore, a retracement could possibly be subsequent.  In a extremely bearish case, the worth of NEO may drop to $17.87. Nonetheless, indications from the Superior Oscillator (AO) revealed rising upward momentum for the token.

Ought to the momentum proceed to extend, then NEO may defy the bearish bias and climb to $25 within the quick time period.

TON

The TON/USD 4-hour chart defined how bulls banked on the $4.85 underlying to assist and flip the resistance at $5.89. Thereafter, the worth rallied. Nonetheless, the Relative Power Index (RSI) confirmed that the token was overbought nevertheless it doesn’t look like bulls are able to let their guard down.

Moreover, the $0.786 Fibonacci degree was $6.11, indicating the nominal pullback TON may expertise. To the upside, the Fib ranges confirmed that TON may lengthen to as excessive as $9.56 within the close to time period.

LTO

LTO flashed a purchase sign at $0.23 on April 8, in response to indications from the Supertrend. Moments later, the worth jumped to $0.27. However that hike was short-lived as the worth fell again to $0.25. 

With this development, it would look like LTO’s hike could possibly be invalidated. This was additionally supported by the Shifting Common Convergence Divergence (MACD). Though the MACD studying was optimistic, the 12 and 26 EMAs adopted the identical route, indicating that sellers have been maintaining patrons on their toes.

Ought to this proceed, then LTO’s value may decline to $0.23 or commerce sideways. Nonetheless, if the bullish momentum reappears, then the worth of the token may climb to $0.30.

ENA

ENA has been one of many best-performing belongings over the previous couple of days. Inside the final seven days, the worth of the token has elevated by 98.15%.

Between April 7 and eight, ENA’s value erased a few of its positive factors as the worth fell from $1.26 to $1.11. However bulls have been capable of spot vendor exhaustion and capitalize on it to drive the worth to $1.37.

Regardless of the rise, the RSI confirmed that bulls had sustained the shopping for momentum and that ENA was not but overbought. On this case, it signifies that the worth may proceed to understand, and reaching $1.50 was doable within the quick time period.

The Cash Movement Index (MFI) on the 1-hour chart additionally strengthened the RSI alerts. At press time, the MFI  was 75.11, suggesting strong capital move into the cryptocurrency. So long as liquidity continues to move into ENA, a value improve appears probably.