Binance, the world's largest cryptocurrency exchange, has a significant impact on the price movements of altcoins. Being listed on an exchange tends to give credibility to an asset. This is the case with SLERF and Secret (SCRT).
The recent announcement has sent the price of these tokens soaring, sparking renewed interest from investors.
Binance Lists Two New Tokens on Futures Market
Binance recently announced the listing of SLERF and SCRT tokens on Binance Futures. These tokens will begin trading with 75x leverage starting November 21. The listing of SLERF and SCRT has attracted the attention of investors.
The listing expands the scope of these cryptocurrency tokens. Naturally, this has triggered a surge in their price.
The price of SCRT surged 30% in the last 24 hours, peaking at $0.41 before falling to $0.34. This represents a significant recovery for the altcoin after its recent correction, signaling upward momentum as investors refocus on the asset.
The rally has helped the altcoin recover some of the losses it suffered after its 90% surge last week. The cryptocurrency is currently trading above the critical support level of $0.30, providing a foundation for a potential upside move if market conditions remain favorable.
To maintain momentum, SCRT needs to break the $0.37 resistance and turn it into support. However, a break below $0.30 could invalidate the bullish outlook, which could lead to further corrections and halt the recent recovery.
SLERF Price Prediction: Support at $0.422 is Key
SLERF has seen a 47% price surge in the last 24 hours since its announcement, and is currently trading at $0.429. This rapid increase highlights strong investor interest and bullish momentum, making SLERF one of the best performing cryptocurrencies on the market today.
To continue this rally, SLERF needs to turn $0.422 into a strong support level. If it does, the token could break above the $0.480 resistance level, setting up a potential upside towards $0.500, further strengthening its recent gains and its appeal to investors.
However, if $0.422 is not established as support, the SLERF progression could reverse and lead to a price decline. If the market cools down and altcoins lose this important support, SLERF could fall to $0.272, erasing recent gains and invalidating the current bullish outlook.
