Here are two altcoins that could rise in price in the short term

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in a series of posts

MANA may have other plans

Martinez assessed MANA’s price action, noting that altcoin prices are currently in the “depression” phase of the typical market sentiment cycle.

Despite the excitement, #cryptocurrency A bull market may just be gaining momentum!take #DecentralandFor example. $mana It appears to be in the “depression” phase of the market’s psychological cycle.

This stage may provide a unique opportunity to obtain #MANA Before a potential market rally! pic.twitter.com/xclCHM6U6Q

— Ali (@ali_charts) January 4, 2024

Asset prices are said to be at this stage, having previously reached all-time highs and now falling. This period is often characterized by low investor sentiment, which affects trading activity and results in lower trading volumes.

Additionally, asset prices may move within a narrow range, reflecting the lack of strong buying and selling pressure in the market.

Martinez said, “This period may provide a unique opportunity to acquire MANA before the potential market emerges!”

However, a review of MANA’s performance on the daily chart suggests that continued declining demand for the altcoin could put further downward pressure on the price.

Source: TradingView

At the time of writing, MANA is trading at $0.46, having lost 16% in value over the past seven days. The price drop could be due to increased token selling and reduced accumulation.

MANA holders have been increasingly allocating their tokens over the past week, according to data from the Money Flow Index (MFI) and Balanced Volume.

LDO is about to soar

Regarding LDO, Martinez’s assessment of the coin’s weekly performance suggests that it has formed an ascending triangle.

#LidoDAO It is forming an ascending triangle on its weekly chart.

Keep an eye on the $3.30 level!A sustained weekly close above this level could trigger a bullish breakout that could push $LDO A record high of $6. pic.twitter.com/1JTkOnYbPt

— Ali (@ali_charts) January 3, 2024

When an asset’s price action forms an ascending triangle, it signals the possibility of a bullish breakout. This is because the structure is characterized by rising lows and flat highs, indicating increasing buying pressure.

Martinez said the $3.30 price point is still important. If LDO sustains weekly closes above this level, a bullish breakout will be confirmed. He added that this could trigger a surge in buying pressure, pushing the coin’s price to its next target of $6.

As of this writing, LDO is trading at $3.25. Last week, its price increased by 15%.