The cryptocurrency market may have faced a sharp sell-off, but several altcoins managed to show resilience. One such altcoin is Pullix (PLX), which managed to soar to a new high despite the bearish market.
The recent surge of Pullix has put it against top altcoins, Cosmos (ATOM) and Holo (HOT). Which of these altcoins will come out on top in this epic showdown? Let’s find out.
Cosmos (ATOM) Recovers $10 Support: What Next?
Like the rest of the altcoin market, Cosmos (ATOM) suffered a significant dip on January 3. ATOM’s price has dropped from $11.4 to as low as $9.7. Cosmos, on the other hand, has already begun to rebound, rising over the $10 support level.
While this is an important support for ATOM, the 18% drop in the weekly chart indicates that Cosmos has exited its upward channel. When the price of Cosmos hit a low of $6 per coin in November, it formed this bullish pattern.
To continue on this upward trend, the price of Cosmos must rise over the Channel support trendline at $11. If Cosmos fails to trade at this level in the following days, it risks falling below $9 or as low as the 200-day SMA at $8.6.
Holo (HOT) Price Analysis
Holo (HOT) is a decentralized platform that allows users to construct and host their own decentralized apps (DApps) on a network of distributed computers. The recent growth of the network has made HOT one of the top altcoins.
The growth of the network helped HOT maintain its bullish pattern despite the recent drop. After touching the $0.0220 support, the price of HOT has increased back to $0.0228. Holo also maintains its gains of 38% on the monthly chart.
To continue its uptrend, the price of Holo must first break above the $0.0230 level. Breaking above this level will set up Holo for a potential 20% price surge to $0.0276. Meanwhile, analysts have forecasted a potential surge to $0.0057 before the year ends.
Pullix (PLX) Soars To New Heights
Pullix (PLX) is one of the few altcoins that has kept growing fast and gaining traction even through the big drop in prices. The value of the PLX coin has gone up to $0.08 from just $0.04 two weeks ago. Not only has the price of the ERC20 coin gone up, the Pullix exchange is enjoying a growth in new users.
This increase is caused by the Pullix exchange giving features that can’t be found on other trading platforms. For instance, Pullix has put together the best parts of CEXs and DEXs into one hybrid exchange. This makes for smooth trading, faster speeds, better privacy, and lower fees.
Pullix doesn’t stop there; the exchange also has brought the global finance market to crypto traders. On Pullix, users can buy, sell, and trade stocks, forex, commodities, ETFs, and more. The forex market has lots of users, which is over 1.5 billion, combining for a daily trade volume of over $6.6 trillion.
Tapping into the forex market gives Pullix greater market opportunity than every other project. This is why analysts are bullish about the ER20 coin PLX. While PLX is currently valued at $0.08, analysts see Pullix hitting a high of $5 before the end of 2024.
In a Nutshell
While Cosmos and Holo are facing temporary declines, Pullix looks to extend its bullish run. The PLX token is strategically positioned for success in 2024 thanks to the market potential of its parent exchange, Pullix.
For more information regarding Pullix’s presale see links below:
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