3 old altcoins signal bullish – Is a surge approaching?

As of the time of writing on Tuesday, Algorand (ALGO), Decentraland (MANA), and JasmyCoin (JASMY) are trading around $0.19, $0.27, and $0.015 respectively, after recording double-digit gains last week. Currently, all three coins are approaching important resistance levels, amid positive momentum indicators suggesting that the upward trend may continue.

Algorand Price Prediction: ALGO Bulls Target $0.27

The price of Algorand (ALGO) has found a solid support around the lower trend line of the descending wedge pattern – formed by connecting the highs and lows since early December. From this support zone, ALGO surged strongly, recording an impressive recovery of 12.69% last week. The upward momentum continued in Monday's trading with an additional increase of 3.36%. As of Tuesday morning, ALGO is being traded around the $0.19 mark, approaching the 50-day exponential moving average (EMA) at $0.20.

If ALGO can break through the EMA 50 line and close steadily above the daily resistance zone at $0.21, the recovery trend could continue, opening up the opportunity to retest the important resistance zone on the weekly chart at $0.27.

The relative strength index (RSI) on the daily chart is currently at 52, pointing above the neutral mark of 50 – a sign that bullish momentum is increasing. At the same time, the MACD indicator also recorded a bullish crossover last week, signaling buy and further strengthening the prospect of recovery. The MACD histogram continues to expand above the zero mark, reflecting the bullish momentum that is consolidating.

! Daily ALGO/USDT chart | Source: Tradingview Long/short ratio data from the Coinglass platform shows Algorand's Long ratio reaching 1.15 – the highest in more than a month. This ratio exceeds the level of 1, indicating that market sentiment is clearly tilted towards the possibility of ALGO continuing to rise, with the number of long positions outweighing the sell.

Long-to-short ratio chart of ALGO. Source: Coinglass## Decentraland price prediction: MANA could surge significantly if it closes above $0.28

Decentraland (MANA) broke above the downtrend line that has lasted since mid-February on Saturday, then returned to test and confirm the line as support on Sunday. The rally continued on Monday with a gain of nearly 3%. As of press time on Tuesday, MANA is trading in a slight red, touching resistance at the 50-day EMA at $0.27.

If MANA can break through the 50 EMA line and close above the important resistance level at $0.28, the bullish momentum may continue to expand, targeting the 50% Fibonacci retracement level at $0.32 — calculated from the peak on January 31 ($0.46) to the bottom on April 7 ($0.19).

The RSI indicator on the daily time frame is currently at 55, indicating that momentum is leaning towards the bulls. At the same time, the MACD recorded a bullish crossover last week, sending a clear buy signal and reinforcing the bullish outlook. The MACD histogram is also expanding above the neutral threshold (0), further confirming the positive trend.

Daily MANA/USDT Chart | Source: TradingviewData from Santiment on the Supply Distribution Index reveals a notable shift in the behavior of large wallets. Specifically, the amount of MANA held by whale wallets ranging from 100,000 to 1 million tokens has decreased from 123.69 million on April 3 to 123.02 million as of Tuesday. In contrast, the group of wallets holding from 1 million to 10 million and from 10 million to 100 million MANA has significantly increased, from 622.76 million to 641.70 million and from 504.46 million to 603.61 million during the same period.

This shift indicates that a smaller group of whales may have taken profits during the recent correction, while larger investors have seized the opportunity to accumulate at lower price levels. This not only reflects expectations of recovery but also reinforces long-term investor confidence in Decentraland.

Supply Distribution Chart of MANA | Source: Santiment## JasmyCoin Price Prediction: JASMY Remains Strong if It Holds Above $0.015

The price of JasmyCoin has broken above the downtrend line that has been in place since mid-December, while also closing above the 50-day EMA at the $0.014 mark on Saturday. However, the early upward momentum faced resistance as JASMY was rejected at the important resistance zone of $0.017 on Sunday and then adjusted slightly. As of Tuesday, the downward trend continues, bringing the price closer to the daily support level at $0.015.

If the support level of $0.015 holds and JASMY recovers back above $0.017, the upward trend may continue, opening up the opportunity to test the peak from March 2 at $0.020.

Technical indicators still lean towards a bullish trend. The RSI on the daily timeframe remains at 60, indicating that the upward momentum is still strong. The MACD formed a bullish crossover last week – a clear buy signal – while the histogram of this indicator is widening above the 0 level, further reinforcing the optimistic outlook.

JASMY/USDT daily chart | Source: TradingviewThe open interest data (OI) further clarifies the current positive trend. According to data from Coinglass, the open interest for JASMY futures on exchanges surged from $22.14 million on Friday to $50.15 million on Sunday – the highest level since early February. This strong increase reflects new capital flowing into the market, indicating growing demand and reinforcing the likelihood that JASMY prices will continue to rise in the near future.

Open contract chart for JASMY | Source: CoinglassDisclaimer*: This article is for informational purposes only and does not constitute investment advice. Investors should conduct thorough research before making decisions. We are not responsible for your investment decisions*

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