Episode Summary:
The Top Coins That Show Potential For a Breakout
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Joe Dewitt Follow at: https://twitter.com/metabitz
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Unedited Transcript:
Get access to actionable news and market research with all the information you need to invest smarter and profit faster. Start your free trial [email protected]. Hey everyone. Today on the crypto breakdown show, we talk about some coins to look out for over the holidays, including Solano light, coin, Ethereum naming service and ACCE.
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Hey everybody happy Tuesday. My name is Joe Dewitt and this is the crypto breakdown. Now it is holiday season and Christmas is right around the corner. So today I'm going to take some time and talk about some coins to look out for as the holiday season approach. So the first point I want to mention would be light coin.
Ticker LTC light coin has been accumulating a great amount of volume here. Taking a look at the daily chart. It has got some higher lows and higher highs and overall just looks like it is ready to pump. RSI is fairly low at about 35%, which if you remember from previous videos, RSI means relative strength in.
Which is an indicator to determine if an asset is oversold or over bots. And the RSI is fairly low on the daily, meaning that it is fairly oversold. So price is more than likely to climb and light coin looks like it is at a great breakout position. Here has been holding its support for quite some time.
And as a light coin inches up towards that $170 mark, it's going to be prone for a breakout there. The second point I want to mention would be ACCE infinity. Take her a X S now actually infinity is a play to earn game. It is actually the top player to earn game in the world with a little under 3 million users and access price is currently at $95.
It just dropped from a large price. Recently just fell due to the drop in Bitcoin and Ethereum, as well as their staking mechanism has been releasing a bit of coins, which is inflating the price. Although actually infinity has been teasing a few major updates, which would really drive up price.
A few different burning mechanisms for their other end game currency, SLP and overall, I think that is going to reflect on the AXS price. So definitely worth keeping an eye on AXS is I think price could reach back towards that one 50 and a few weeks here, another project to definitely keep your eye on would be the Ethereum names.
Ticker ENS. ENS was just recently airdropped to users who have an Ethereum domain name day after it was released. It was hovering around $75, which quickly fell. And it's sitting in a very interesting pattern here. 24 hour trading volume on ENS is about 97 million. And overall there is a lot of talk in the space about Ian.
Considering it was airdropped to all of domain holders. It is a huge question on where the coin is going to go next. There is going to be a large amount of utility for the Ethereum domain services. This is going to be the governance token. So people with domains are going to be able to vote and make decisions on the project and where Ethereum was going to go moving forward with the services, which is a really cool aspect.
The reason I mentioned this coin is because it is currently. Just climbing back up from an all-time low it's low. It was about $36 here. It's sitting at 41 right now, and ENS is absolutely everywhere. So definitely worth keeping a look at that as I could absolutely see prices surging as volume starts to come in.
And the last final point I want to mention to keep an eye out over the holidays would be Salana thicker S O L Falana sitting at $180 with a market cap of 55 billion and the 24 trading volume of two bills. Now Solano has a very interesting structure on the daily chart. It's chart does look pretty good here.
It kind of determines where today goes. If we see a good amount of green volume coming in, I think that'd be a massive bullish sign here and would be a great entry point to make some gains on Salana. Although it is hovering over some support right here at one 17. And if it does fall below there I could see a price correction back down to 80, which would be another great time to buy salon, being a very important layer.
One for all of the DFI community and different NFTs on their ecosystem is a very popular coin. Absolutely worth looking at seeing if you could get in and a little bit lower or see if you can purchase before it starts to run. That's all the time we have today. Guys. Thank you so much for tuning in. You can fall and subscribe to our podcasts and follow me on Twitter, which will all be in the description below.
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