A popular crypto analyst predicts a rally for Ripple (XRP). It also explains what’s next for leading altcoins Ethereum (ETH) and Chiliz (CHZ). According to another analyst, Qadir AK, Ripple and Lido DAO Token are preparing for an exit.
Altcoin projects on the analyst’s radar: XRP, ETH and CHZ
The analyst, nicknamed Altcoin Sherpa, says that XRP is trending bullish. He also predicts that Ripple will ignite a good rally in the short term. In this context, the analyst uses the following statements:
XRP: Standard… Targeting range is high.
Source: Altcoin Sherpa / TwitterNext up is the leading smart contract platform Ethereum. According to altcoin Sherpa, ETH needs to correct some more before it potentially creates a bottom and reverses the bearish trend. Based on this, the analyst makes the following statement:
ETH: $1,000 – $1,200 next area by volume profile. There should be good support in this range. There is a price fractal. You see these types of double bottoms for reversals in all timeframes. I think a potential bottom would be like this.
Source: Altcoin Sherpa / TwitterAnother altcoin on the analyst’s radar is Chiliz (CHZ). Token is a native presence of a platform designed to tokenize sports and esports to encourage fan engagement. According to altcoin Sherpa, CHZ bulls are likely to trigger a rally if they manage to break the close resistance at $0.25. The analyst shares the following comment:
This looks scary in all time frames. However, it still became one of the best performing cryptocurrencies. Four-hour potential double top, also this is still an area of resistance. If it breaks to the upside, I think the next area is $0.30.
Source: Altcoin Sherpa / TwitterUpside potential: Ripple and Lido DAO Token
As you follow on Kriptokoin.com, the broader crypto markets experienced a lot of bearish pressure ahead of the FOMC meeting. The global market value, which rose above 1 trillion dollars, fell below this level again. Also, the trading volume, which largely held the buying volume, fell by around 4%. According to analyst Qadir AK, in a deep red sea, some altcoins manage to stay greener! Qadir AK analyzes XRP and LDO prices.
Ripple price has recently exited the descending parallel channel. It tumbled above $0.42 in a short time. However, the bears tried to bring the price down quickly. However, the bulls managed to close the previous day’s trade above $0.4. The price is undergoing a minor correction as the bulls seem to be exhausted. However, buying pressure continues to squeeze the bears. Therefore, it is possible for the price to rise after a short consolidation.
Therefore, with a daily close above the resistance of the channel, the price is likely to hit key levels further above $0.5. Accordingly, he is likely to secure positions at $0.52. If XRP price successfully withstands the bearish pressure from these levels, a rally above $0.65 could be close.
Lido DAO Token (LDO) is trading inside a rising bearish wedge. It looks like he’s looking for an outlet soon. Additionally, the price also formed a large bull flag. It is heading towards the apex of consolidation that could lead to an even bigger breakout in the coming days. With a breakout, the price is less likely to hit August highs. However, it is possible to push it above $2.2 or $2.4.
35919
