The crypto market has reacted interestingly to the highly awaited halving with a large percentage of coins currently trading in the green zone. With less than seven days left to the halving, there has been a movement by Whales towards other coins that have invariably led to an increase in value in recent days.
The total market cap is beyond the $250 billion marks and there are indications that there could be swift developments in the coming days. We focus on a few coins including Reddcoin (RDD), Ravencoin (RVN), Enjin Coin (ENJ) that have shown bullish tendencies in the last 24 hours.
Reddcoin leads the chart of top gainers as at the time of publication, appreciating 60% in the last 24hours. There have been speculations regarding new developments to its blockchain which could be a factor in the recent bullish run.
Reddcoin is valued $0.001644 and is likely to surpass its resistance point of $0.0018 if the current trend continues. However, a downturn is likely to see the coin drop to within the support levels of $0.00155.
Ravencoin has been trading nicely in recent days with the commodity token in the green zone in the last 24 hours. Ravencoin is currently 5.5% up at the time of publication and is trading at $0.022458 in the market.
There are indications that the impending Bitcoin Halving could be the reason for the rise in the value of the commodity token. This is not surprising giving the overall effect of Bitcoin on the crypto market.
From the current trend Ravencoin next support levels is $0.023 mark while a negative trend could see the coin drop to the support levels of $0.019.
Enjin Coin (EJN)
Enjin Coin is the last coin on our focus list with the coin currently 7.26% up in the last 24 hours. Looking at the current market trend, Enjin Coin is in the midst of a bullish run and is priced at $0.149028. Enj Coin’s next resistance level is $0.15 while the support region is around $0.148.