Two analysts, who are very popular on Twitter, analyzed 4 altcoin projects. Accordingly, these 4 cryptocurrencies, which are very popular, are giving a bullish signal. Here are the details…
It is possible for Ethereum (ETH) to rise by 40%
Cryptocurrency analyst, nicknamed Altcoin Sherpa, talked to his followers about Ethereum. Accordingly, the leading altcoin is preparing for a big rally. The analyst told his 180,200 Twitter followers that he saw a massive rally for Ethereum after ETH cleared the resistance at $1,281. Accordingly, it is possible to see a rise in the best altcoin in the short term. However, this does not mean that the rally will likely be the start of a new bull cycle. According to the analyst, ETH price will be somewhere between $1,700 and $1,900 next week. However, this does not mean that we are entering a bull market. It will only be a short-term bear market rally. At the time of writing, Ethereum is trading at a price of $1,356. If altcoin Sherpa’s prediction is correct, there is over 40% bullish potential for ETH.
Altcoin Sherpa also examined the correlation between Bitcoin and Ethereum after this sharing. Accordingly, he says that sudden resistance has been fired in the BTC/ETH parity. He also adds that this bodes well for altcoin prices. Stating that the BTC / ETH parity has hit the bottom, the analyst states that altcoins will make several small rallies in the coming weeks. However, he adds that he does not see this as a macro dip. According to him, there will be some minor rallies in the next few months, but they will not change the bear market. As Cryptokoin.com reported, the rise of the BTC/ETH parity reveals that altcoins will perform well. At the time of writing, the BTC/ETH pair is close to hitting 0.065 BTC ($1,363), the next target of Altcoin Sherpa. It is currently trading at 0.064 BTC ($1,342).
These 3 altcoins have the potential to make huge gains
After that, another analyst shared bullish expectations regarding 3 altcoin projects. The pseudonymous analyst known as Cantering Clark spoke to his 140,300 Twitter followers. Accordingly, he expects the right market conditions to pull out both diagonal and horizontal resistances of Solana. He points out that if this happens, it has the potential to make a significant rally. “It is possible for the market to sustain this pressure of ETH. If so, the SOL will rise much higher. Lots of open positions and risks were tagged as they fell from $50-40. In the short term, it looks like a bottom, it can be torn.” At the time of writing, Solana is changing hands at $40.16. A move to the next resistance area of Cantering Clark near $75 indicates over 86% upside potential for the SOL.
The analyst also says he is optimistic about the popular altcoin Avalanche (AVAX). “SOL and AVAX look really good. I think my patience will be rewarded.” says. However, at the time of writing, AVAX is trading at $ 21.60. Cantering Clark is also interested in FTT, the token that powers crypto derivatives exchange FTX. According to the crypto analyst, FTT has a strong support area on its weekly chart. He states that FTT’s risk reward is quite large. At the time of writing, FTT was trading at $28.21, up over 1% on the day.
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