The crypto market has been moving intensively since the first day of the month. The rise of Bitcoin accelerated the entire ecosystem and there still seems to be signs that this will continue at least in the short term.
As a result of the acceleration of prices, many altcoins have seen their prices rise in parallel, with some growing in double digits and others a little less.
In this article we will take a look at three altcoins that have the potentials of seeing good growth in the long term: DigiByte (DGB), OmiseGo (OMG) and Qtum (QTUM).
Digibyte (DGB) Price Prediction: Rewarding Short Term Outlook
At the time of writing, the cryptocurrency presents a quoted price of $ 0.0148 per unit, a growth of + 13.52% in the last 24 hours and a volume of almost $ 5 million dollars in that same period of time. Its market capitalization is $ 172 million dollars, and remains anchored in the 45th position according to CoinMarketCap.
In the long term, DGB has a typical wedge pattern and trading support, with a break at the ‘D’ point to complete the second Elliot wave and to be able to take off in the ascending channel until resistance prices R1 for the last quarter of the year is up to $ 0.15 cents per unit.
Digibyte’s key support remains at the breaking point, far from its current quote value.
Digibyte has taken almost a year to break this prolonged bearish trend and everything seems to indicate that investors will finally see good profits this year. The RSI indicator shows this ascending channel, with purchase levels, close to the bullish zone (overbought RSI> 80).
To corroborate this long-term bullish behavior, we analyzed the same H1 chart with the representative indicators for the case of DGB. According to the graph, the trajectory of the ascending channel is confirmed by the fibonacci levels shown and a break above the upper bollinger band of the last candle, indicating moment of purchase and uptrend.
The Aroon Uptrend for its part remains at the top of the table, with its counterpart channeling towards the bottom. Symptom of the long bullish momentum prolonged for DGB.
To conclude, the Chaikin Money Flow indicator is indicating a strong inflow of money into the ecosystem, a good sign that DGB will remain in an uptrend.
OmiseGo (OMG) Price Prediction: Rewarding Short Term Outlook
OmiseGo (OMG) is currently the 28th cryptocurrency on the market, thanks to its market capitalization that is just over $ 292 million dollars. Its price has skyrocketed to $ 2.09 per unit with a growth of + 12.91% in the last 24 hours.
OmiseGo presents a behavior similar to DGB, with a medium to long-term rising channel, which has just set an uptrend with the crossing of EMA at 25 days versus 100 days, reaffirming the current trend of the projected channel.
According to Elliot Waves triple correction, OMG must generate a third wave without any problem within the parameters of the channel to reach mid-May at the R1 level of $ 3.52 USD per unit; 54% more than the current price in just over a month.
This trend is confirmed by the Chaikin Money Flow indicator, approaching a higher level of capital inflow to the GMO ecosystem. DigiByte’s key support is at the break point of $1.02. To confirm the previous pattern, we analyzed the indicators for GMO in the 1D graph.
The Stochastic indicator remains projected in an uptrend to reach overbought levels by the end of April.
MACD has made a bullish cross, and seems to confirm the uptrend for the rest of the year for the GMO.
For its part, Awesome Oscillator increasingly draws candles that is more green and positive, after a passive exchange in Q1 2019. This tells us that the support to maintain long-term OMG is on the rise.
Qtum (QTUM) Price Prediction: Rewarding Short Term Outlook
At the time of writing, Qtum (QTUM) is changing hands at $ 3.35 per unit with a double-digit growth of + 12.54% in the last 24 hours. It has a $7 million difference with respect to OMG in the fight for the 27th place in the global cryptocurrency ranking. Its volume in the last 24 hours seats around $331 million dollars.
For the long-term chart, QTUM perhaps presents an ascending channel with a steep slope, developing a maximum price, according to Elliot Wave, of up to $40 for the middle of the year, and a strong possibility of reaching maximums of up to $6,14 USD per unit.
The good bullish trend is ratified by the Momentum indicator and its positive value so far.
To maintain the upward trajectory, QTUM could represent a great investment opportunity in the long term, with profits if it now enters up to 100% of the capital invested.