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3 Crypto Tokens Set for Price Recovery This Week

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By Erika John - - 5 Mins Read
Crypto price chart displayed on a screen
Photo | Maxim Hopman/Unsplash

Cryptocurrency investors and traders are getting excited as a crypto trader named Professor Astrones has shared some insights on the potential price recovery of three crypto tokens: Sei Network (SEI), Fantom (FTM), and Fetch.ai (FET).

 

According to the trader, these tokens are displaying positive signs of a bullish trend, with an additional mention of Injective (INJ). Let's delve into the details and explore the possibilities for each token.

Sei Network's Recent Performance

SEI managed to erase all losses in the past seven days and exhibited a 7% gain in the past week.

 

Despite this positive trend, SEI could increase after smashing a recent high of $0.744063. However, a closer look reveals a solid support base at $0.63.

 

SEI crypto price chart
SEI price chart | Bynit

 

If bulls exert more buying pressure, SEI could breach the resistance, setting its sights on the next target at $0.80.

 

However, achieving this milestone requires a notable increase in volatility, as indicated by the current tightness in the Bollinger Bands (BB).

Analyzing Key Indicators

Currently, the Bollinger Bands suggest a constrained volatility environment, posing a potential hurdle for significant price fluctuations.

 

On the positive side, the Relative Strength Index (RSI) indicates an upswing in buying momentum.

 

If market participants sustain this momentum, SEI could be on the brink of a notable price increase, making it one of the best crypto tokens to buy now.

Fantom (FTM): Overcoming Bearish Trends with Bullish Trajectory

Another crypto token drawing attention is Fantom (FTM), displaying a robust bullish movement on its daily chart.

 

Despite hitting $0.38 with a 6.76% 24-hour hike, the Exponential Moving Average (EMA) suggested a short-term bearish trend, with the 9 EMA crossing below the 20 EMA.

Key Turning Points for Fantom

Contrary to the expected bearish trend, FTM's price rose above both EMAs, signalling a potential neutralization of the bearish bias.

 

If bears fail to invalidate this momentum, FTM could be poised to move to $0.55 in the coming weeks, presenting an enticing opportunity for investors eyeing a crypto price increase.

Fetch.ai (FET): Capitalizing on Seller Exhaustion for a Potential Rally

Fetch.ai (FET) exhibited signs of a potential price recovery, with bulls capitalizing on sellers' exhaustion, driving the price up to $0.62.

 

However, the daily chart highlighted a rejection at $0.63, prompting a closer look at key indicators.

Analyzing FET's Momentum

The Moving Average Convergence Divergence (MACD) dipped to -0.0018, indicating a bearish momentum.

 

If this trend persists, FET might experience a drop to $0.57. Nevertheless, this dip could present a buying opportunity before a potential rally.

 

The Money Flow Index (MFI) hinted at capital inflow into Fetch.ai. Should this trend intensify, FET might surge to $0.75 in a highly bullish scenario, making it one of the best crypto tokens to buy now.

Injective (INJ): Navigating Resistance Levels with Growing Buyer Presence

Injective (INJ) hinted at a move toward $40, but a resistance rejection at $37.50 suggests potential hurdles to overcome before a breakout.

Assessing INJ's Market Dynamics

The Relative Strength Index (RSI) indicated an increase to 63.03, reflecting a growing presence of buyers in the market.

 

If this buyer momentum persists, INJ could surpass $37.50, with the possibility of an additional 10% increase.

 

The Awesome Oscillator (AO) entering positive territory further supports the notion of increasing upward momentum for the token.

Potential Scenarios for INJ

In a highly bearish scenario, INJ's price could experience a drop to $33. However, technical indicators suggest that such a downturn appears unlikely.

 

Instead, the prevailing indicators point towards a higher value for INJ in the foreseeable future, aligning with the broader trend of a potential crypto price increase.

Market Outlook: Best Crypto Tokens to Buy Now

As traders and investors navigate the dynamic cryptocurrency market, these highlighted tokens - Sei Network (SEI), Fantom (FTM), Fetch.ai (FET), and Injective (INJ) - emerge as potential candidates for a price recovery in the coming weeks.

 

Each token presents its unique opportunities and challenges, providing market participants with various avenues for potential gains.

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