The cryptocurrency market has had a rapid start this January, although the rise has come to a temporary halt. The outcome of the support test on the BTC chart is anticipated to determine the market’s direction. Significant developments in the coming days will guide the market, with Bitcoin needing to maintain its position at $94,000. But what are the predictions for AXS and Fartcoin in this scenario?
The Fate of AXS and Fartcoin
During the P2E hype, AXS was one of the top altcoins, attracting many farmers. Over the years, however, the cryptocurrency market has witnessed intriguing events, and AXS Coin has faced some significant setbacks. While it’s uncertain when the P2E enthusiasm might reignite, the announcement of new, advanced product versions integrated with artificial intelligence could be beneficial for AXS in the future.
The analyst known as Altcoin Sherpa predicts short-term fluctuations for AXS Coin, considering the recent intermediary rise. If proven right, buying at a low price and selling during intermediary peaks could present a profitable opportunity. Alternatively, if the opportunity is missed, there is a possibility of further price decline. Sherpa expressed the following:
“I am currently observing AXS’s next move and think AXS has a bearish trend. Later, I might consider short-selling but foresee some significant rebounds. Today, I will mostly be out and not hold any open positions, but my personal next target is around $1.66.”
Previously, Columbus published details of a bullish scenario that now seems to have ended for Fartcoin. With the loss of support level, a retreat to $0.23 may begin. For a more significant rise, BRC needs to reclaim $98,000, which would open the way for altcoin appreciation. If Fartcoin can close over $0.45, hopes for it reaching $1 could rekindle.
Top-Performing Altcoins on January 18
Today’s standout performer was DASH Coin, whose surge coincided with a decline in XMR, causing little surprise. There is some liquidity movement as it flows from ZEC Coin to Monero, and now to DASH. This activity between privacy altcoins presents DASH as a seasoned altcoin with potential for profit. Tracking its performance into the new week is crucial, as it may continue its substantial gains for another week.
Among the top 100 cryptocurrencies, altcoins like MYX and LIT achieved gains approaching 5%, yet none came close to matching DASH’s performance.