With the altcoin market showing signs of life, crypto analysts are sharing bullish expectations for Ethereum (ETH) and coins/tokens such as Polkadot (DOT), Terra (LUNA) and Shiba Inu (SHIB). We have compiled the analysis of Altcoin Sherpa and Joe Parys for Kriptokoin.com readers.
Altcoin Sherpa tracks $3,000 on Ethereum
While leading altcoin Ethereum looks optimistic on shorter timeframes, correction may be imminent as Altcoin is trading in a major resistance zone according to Sherpa. The analyst begins with:
Bottoms are not usually like this; I believe we will eventually see a return to the bottom. However, the price maintained its bullish structure at the 4th hour. At $3,000, we’re approaching a scary place. Attention.
The analyst, who later went to Polkadot, says that the DOT price is ready to rally 27% from its current price of $21.90 to $28:
I believe short-term bottoms are forming; We’ll see if this is a long-term bottom. I believe the price needs to consolidate for a while before it happens. Maybe close to the 200-days EMA and then lower.
DeFi payment network Terra is another altcoin on the analyst’s list. According to altcoin Sherpa, LUNA could be forming a bottom between $45 and $53 as it is trading in a high-volume HVN region. The analyst says:
For now, I believe the bottom is inside. This location has a lot of volume and an HVN in the volume profile. This is expected to chop and then rise.
2022 bull predictions from Joe Parys list
- Shiba Inu is the first fire on the list. The meme token’s earnings exceeded 50% compared to last week. According to the analyst, SHIB has the potential to explode, so it could be the first fast-firing all cryptocurrency to consider.
- The next altcoin, Axie Infinity (AXS), is a trading and war game in which players own a part of the company. Axie Infinity is a game that allows players to collect, breed and trade NFT-based animals known as Axies, inspired by famous games like Pokémon and Tamagotchi. Because of all the mainstream acceptance and partners, the analyst believes AXS is ready to travel to the moon.
- The other altcoin on the list, Avalanche (AVAX), is the world’s fastest smart contract platform with extremely fast, low-cost and environmentally friendly transactions. Transaction functionality takes less than 2 seconds and is extremely energy efficient, secure and promising with hundreds of nodes using PoS, according to the analyst.
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