A crypto analyst says the road ahead for Chainlink, Ethereum and Cardano is in Bitcoin’s ‘negotiable’ territory. Another analyst notes that the leading altcoin Ethereum, Avalanche, Polkadot and Curve are preparing to breakout. We have compiled the forecasts of analysts for our readers.
“ADA and LINK can emulate key rallies of ETH”
Crypto analyst nicknamed Rekt Capital says that Cardano (ADA) and Chainlink (LINK) may soon emulate the key rallies that Ethereum (ETH) did last month. The analyst notes that both ADA and LINK are in the midst of breakouts triggered by a bullish wedge pattern. He also states that if critical resistances are broken, they will continue to climb. Rekt Capital makes the following statement:
LINK and ADA enjoyed the exits from Falling Wedges. Just like ETH did a few weeks ago before it rallied +50%. If they’re both going to follow ETH, they have to follow this route. LINK needs to retake $7.78 as support (black). ADA needs to retrace ~$0.515 (blue, mid-2017 resistance).
Source: Rekt Capital / TwitterSource: Rekt Capital / Twitter
“Bitcoin has found the level of support it needs”
The analyst also locks his radar on Bitcoin (BTC), which he notes is closing above the 200-week moving average (MA) for the first time in more than two years. If BTC can maintain momentum above the 200-week MA, Rekt Capital says the leading crypto has already found the level of support it needs. It also notes that it will retest the field for a second week in a row. In this context, the analyst makes the following assessment:
BTC is closing a weekly candlestick above the 200-week MA. First weekly close above the MA after a long downtrend since March 2020. This means the price will attempt to retest this MA as new support this week. BTC held the MA as support last week, as evidenced by the bearish wick. Now he will try to hold off for a second week in a row.
As you follow on Kriptokoin.com, it is difficult to determine the exact bottom of Bitcoin, according to analysts. However, the analyst states that BTC is still in the ‘negotiable’ zone. That’s why he says it gives investors a good discount. Rekt Capital points out the following levels for BTC:
Many worry about whether to buy BTC at $21,000 or $22,000 or $23,000. Meanwhile, failing to realize that anything under $35,000 is a bargain in the long run.
“Leading altcoin ready to fire”
Crypto analyst Michaël van de Poppe says leading altcoins Ethereum (ETH), Avalanche (AVAX), Polkadot (DOT) and Curve (CRV) appear poised to ignite breakout rallies. The analyst notes that Ethereum is currently testing the strength of its immediate resistance around $1,700. If ETH bulls clear the resistance, the analyst predicts that Ethereum will rise over 46% from its current price. He expresses his views as follows:
It starts when Ether goes this high. If we stay above $1,660, retest the high and break it at $1,780, I think it’s quite possible to pull off all those highs ($2,000). Then we go to the upper part of this range. Then I look at $2,400.
Source: Van de Poppe / YouTubeOther altcoin projects to take off: AVAX, DOT and CRV
Another altcoin on the analyst’s list is the smart contract protocol Avalanche (AVAX). According to Van de Poppe, AVAX is one resistance away from starting a massive 79% surge. In this context, the analyst makes the following statement:
We test the range high ($26) again. If we crack that, it’s the same with Ether. Here, we’re looking at range highs or previous highs that ultimately result in acceleration. It’s possible that we might even see a run towards $42 later.
Source: Van de Poppe / YouTubeNext up is Polkadot (DOT), the interoperability blockchain. Van de Poppe says the DOT could potentially sustain its bullish momentum in the short term. However, he notes that other altcoins offer better risk/reward ratios. His analyst explains:
Maybe it will accelerate pretty fast here. I think a retest is probably next for $9. The difficult one. I think there are better opportunities to trade than DOT.
Source: Van de Poppe / YouTubeThe last altcoin on the analyst’s radar is CRV, the governance token of stablecoin-focused decentralized exchange Curve Finance. Michaël van de Poppe has the following to say about this altcoin:
If we continue here, it probably means we want to test the previous peak. Which means that if we have a fix… I’ll look at $1.33 for testing. We will then continue towards $2.
Source: Van de Poppe / YouTube
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