Recent uptrends in the crypto prices mean that an air of optimism is creeping back into the market.
Even though most coins have stayed above June lows since a return to positive upsides, short-term outlook still suggests that we could yet see downtrends resume.
Optimism should be guarded at the least, as any negative factors could be detrimental, especially for altcoins. What then is the price outlook of altcoins like Cardano (ADA), Stellar (XLM), IOTA, TRON (TRX), and NEO?
Cardano is one of the coins feeling the heat over the last 24 hours. ADA prices are trading over 5 percent lower on its value on July 3.
It currently trades at about $0.15 to the US dollar, though it remains in the green over the last 7 days. The 7th ranked crypto is likely to remain bearish this week.
ADA traded below 12 cents a week today, but a strong run for two days saw it almost reach 20 cents. ADA gained in value over the last few days, rising from about $0.11 to hit a high of $0.16 on July 3.
It, therefore, means that today’s price decline may be reversed and see the coin hit a new recent high near $0.20 before the weekend.
The majority of crypto investors have remained bullish over Cardano, and the latest sentiments indicate HODLers retain the belief.
Features that appeal from the project include its scientific approach, secure wallet, and strong adoption potential.
Q3 could see ADA/USD break above $0.50 and even attempt $1 before the end of Q4.
The back end of April was a great time for IOTA, which saw its value rise to reach a recent high of $2.69 by May 3.
However, its prices hit a snag and descended into free fall and reached a new low of $0.89 on June 29.
At that time, it looked as if nothing could prevent further declines and long-term outlook was bearish.
A return to bullishness in the last few days has seen its rally to climb back above $1.00. The momentum is weak, however, and IOTA/USD may struggle to break above $2.00 this July.
Over the last 7days, its value remains in the green and may need the bulls to push it beyond bearish territory.
IOTA has done quite a lot in 2018, and with its proposed Qubic, sentiment can turn north anytime.
Stellar’s price has seen a good upturn in July, though that could yet be wiped out if momentum turns bearish. XLM prices remain +12 percent in the green over 7 days.
However, it has seen its value dwindle by about 2 percent in the last 24 hours.
Cumulatively, XLM/USD is trading -29 percent lower in value over the last one month.
Since May 6, lumens have lost about 50 percent of its value. Going forward, Stellar will heavily rely on the market sentiment and its SDEX upgrades to regain momentum.
If Stellar corrects higher in coming days, it might be able to reach $0.50 in Q3 and a repeat of the rally in 2017 could see it hit $1.00 before year’s end.
It’s looking increasingly difficult though, given the high volatility and market uncertainty.
TRON (TRX) is trading below its recent highs as the coin experiences a continued poor performance.
Ever since it launched its testnet, the TRX community has looked forward to a huge price rally. That hasn’t happened, over a month after its mainnet was also launched.
Recently, the CEO Justin Sun oversaw a 1 billion coin burn and promised a “secret project”. All these are hoped to be efforts that will see the coin finally deliver to the passionate community.
Current prices are similar to the June 13 lows of $0.038. It’s a far cry from its highs of $0.300 reached in January. More recently it hit a high of $0.101 on May 1.
Since then, TRON has been in a downtrend and with current momentum turning bearish, it’s difficult to see it go back to May 1 price before the end of July.
TRX/USD is likely to face massive sell-off pressure unless Bitcoin embarks on a great rally to support it. Potential growth remains, however, and TRX may see gains in the region of $0.050 to $0.08 in Q3.
NEO prices have continued to surge over the last several hours as positivity seeps through the community.
The latest optimism about the coin relates to an anticipated move that will likely usher in a decentralized era. NEO is often referred to as the Chinese Ethereum and might be the next big thing out of China.
NEO/USD IS over 6 percent higher today after surging by almost 12 percent on July 3. The currency has seen its value rise to about $39.40.
These prices were last seen on June 20 when it hit a high of $40. Over 7 days, NEO is +31 percent higher.
Even though NEO/USD has gained enormously over two days, its value is still more than 50 percent lower on its late April prices of over $90.
If the coin embarks on a decentralization process and combines that with a robust approach to dApps, then we can see its value increase as demand for its coin increases.
While reaching $90 might be a little bit difficult in Q3, every indication is that NEO can reach the said values before the end of 2018.