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Altcoins in focus after Bitcoin Halving: Injective (INJ), Render (RNDR) and NuggetRush (NUGX)

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  • Injective (INJ) aims to break the $30 resistance to resume the uptrend, while Render Token (RNDR) targets $10 psychological level.
  • New meme coin NuggetRush concludes successful $3.8 million presale, prepares for NUGX token airdrop.
  • NuggetRush offers Play-to-earn gaming, NFT staking, and blockchain-based mining simulation.

As the much-anticipated Bitcoin halving event is now behind us, investors are turning their attention to altcoins, seeking new opportunities for potential gains. Injective (INJ) reacted positively after the halving, recording an 8% increase in price, while the Render Token (RNDR) remained relatively flat during this period.

Meanwhile, a new meme coin, NuggetRush, has generated some buzz among meme investors by successfully concluding its crypto presale. It sold over 270 million NUGX tokens and raised $3.8 million.

Injective (INJ) Aims to Surpass $30 Resistance

Injective (INJ) is currently trading around $28, up 8% over the past week. However, this level still falls short of its 2024 yearly highs of approximately $52, reached in mid-March.

According to the analysis provided by altFINS, the trends for INJ are mixed. The price has bounced off the $20 support level and reached the $30 resistance, which aligns with the 200-day moving average.

 

To resume its uptrend, INJ needs to break above this $30 mark. If it fails to do so, the price could revisit the $20 support level.

altFINS classifies the trend as a downtrend on the short- and medium-term basis, while maintaining an uptrend on the long-term basis. Additionally, momentum indicators show mixed signals, with the MACD Line above the MACD Signal Line (bullish) but an RSI around 50 (neutral).

For INJ to continue its upward trajectory, it needs to overcome the $30 resistance level, which could pave the way for further gains.

RNDR Targets $10 Psychological Resistance Level

When the market experienced a crash amid the Israeli-Iranian conflict on April 13th, RNDR plummeted to the $6.6 level. However, the price quickly recovered the following day, trading above $9, a level it has maintained since then.

altFINS’ analysis on RNDR suggests mixed trends as well. A bullish breakout from the Channel Down pattern could propel the price towards the $10.00-$10.50 range, representing a potential upside of 10-15% in the near term.

altFINS identifies the trend as neutral on a medium-term basis and an uptrend on a short- and long-term basis. Momentum indicators show the MACD Line above the MACD Signal Line (bullish) but an RSI around 50 (neutral).

The nearest support zone is $8.00, followed by $6.00, while the nearest resistance zone is $10.00 (a previous support level), with further resistance at $13.00. Given the psychological significance of the $10 level, a breach of this resistance could be a crucial milestone for RNDR.

NuggetRush Prepares for NUGX Token Airdrop

NuggetRush, a new meme coin project, successfully sold out its crypto presale earlier this month. According to their website, all presale investors will receive their NUGX tokens through an airdrop in the coming days.

The project offers profitable Play to Earn gaming and NFT staking opportunities, enhancing user engagement and rewards. It features a dynamic marketplace and gameplay that allows investors the potential to generate passive income.

NuggetRush is a free-to-play, skill-based game running on the Ethereum blockchain. It boasts an NFT marketplace that promotes sustainability, enabling players to stake their NFTs for up to 20% APY or trade them in a peer-to-peer marketplace for profits.

The platform also introduces special NFTs called RUSHGEM NFTs, which can be redeemed for real gold and delivered directly to gamers.

The game’s core gameplay revolves around managing a mining operation, starting with a small plot of land and basic equipment. Players can explore for mineral-rich areas, conduct surveys, and engage in various mining activities like digging shafts, setting up tunnels, and operating machinery to extract valuable minerals and assets.

NuggetRush’s immersive environment, realistic mechanics, and engaging progression systems aim to keep players invested in continually improving their operations, exploring new territories, and competing for the highest yields. Players can also collaborate with other miners, forming partnerships or joining mining guilds for increased efficiency and shared rewards.

Conclusion

While Injective (INJ) navigates mixed trends, its ability to breach the crucial $30 resistance level could determine its prospects for further upside momentum, potentially revisiting its 2024 yearly highs.

Render Token (RNDR) faces a significant psychological hurdle at the $10 resistance level, with a successful breakout potentially unleashing a 10-15% upside potential in the near term, according to altFINS’ analysis.

The emergence of NuggetRush adds an intriguing new dynamic to the altcoin landscape, captivating investors with its innovative Play to Earn gaming concept, NFT staking opportunities, and the highly anticipated airdrop of NUGX tokens to its presale investors.

Join Nugget Rush 

Disclaimer: This is a paid post and should not be treated as news/advice.

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