Binance Listing Leads to Exponential Rise in 2 Altcoins
Binance, the world’s largest cryptocurrency exchange, has considerable influence over altcoin price movements, and listing on the exchange tends to lend credibility to any asset. This is the case with SLERF and Secret (SCRT).
The latest announcement resulted in a significant increase in the prices of these tokens and renewed investor interest.
Binance launches two new tokens
Binance recently announced SLERF and SCRT tokens listed on Binance futures. Trading of these tokens will begin on November 21st with 75x leverage. The listing of SLERF and SCRT on the exchange sparked investor interest.
The listing expands the scope of these crypto tokens. Naturally, this triggered a significant increase in its price.
The price of SCRT surged 30% in the past 24 hours, reaching a high of $0.41 before falling back to $0.34. This marks a notable recovery for the altcoin following its recent correction; signaling renewed bullish momentum as investors turn their attention back to the asset.
This gathering has Helped altcoins Recovering some of the losses caused after last week’s 90% surge. The cryptocurrency is currently trading above the key support level of $0.30, setting the stage for a potential rise if market conditions remain favorable.
To maintain its momentum, SCRT must break the $0.37 resistance and convert it into support. However, a break below $0.30 could invalidate the bullish outlook, potentially leading to further corrections and halting the near-term recovery.
SLERF Price Forecast: No Highs
Following the announcement, the price of SLERF surged 47% in the past 24 hours, with the token currently trading at $0.429. This massive increase highlights strong investor interest and bullish momentum, making SLERF a Best performing cryptocurrencies in today’s market.
To sustain this rally, SLERF must flip $0.422 to strong support. Achieving this would see the coin break above the $0.480 resistance, setting the stage for a potential rise to $0.500, further consolidating its recent gains and appeal to investors.
However, failure to establish support at $0.422 could reverse SLERF’s progress, causing the price to drop. If market conditions cool down and Altcoin losses Below this key support level, SLERF could drop to $0.272, erasing recent gains and invalidating the current bullish outlook.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
