2 leading analysts analyzed the current state of the cryptocurrency market and identified 4 altcoins. According to the analyst, one of these altcoins has the potential to spike up to 500 percent. Here are the details…
“This altcoin is preparing for a big bull run”
Anonymous cryptocurrency analyst with the nickname Smart Contracter analyzed Dogecoin price. According to Contracter, DOGE price is preparing for a big bull run. The trader listed his views against his Twitter fan base of 210,500. He reported that after several months of bearish markets, DOGE may be heading for a massive bull run. In the chart below, the analyst points out that there is a two-month accumulation breakout seen in DOGE. Smart Contracter says its dog-themed altcoin project follows in the footsteps of Bitcoin’s 2019 price action.
At that time, Bitcoin fell for several months. It then rose from $4,000 to $14,000. Smart Contracter reveals his personal view and says he is not the only one who believes it. So there are many analysts who share the same view. Also, the analyst used the Fibonacci retracement tool as his key point and predicted that Dogecoin would trade slightly below the $0.50 mark. Eventually this will lead the Dogecoin price to increase by over 500% from the current price trade.
“Solana can make 2x the price”
Another cryptocurrency analyst, referred to as Guy, looked at the “Ethereum Killer” altcoin projects. The CoinBureau host shared his views to 2.09 million YouTube subscribers. Accordingly, Guy says he thinks the price of layer-1 Blockchain Solana (SOL) could double if the broader altcoin rally continues. Therefore, the analyst states that FTX CEO Sam Bankman-Fried’s statements for Solana are “somewhat correct.” Fried had recently said that Solana was underestimated as an investment.
So according to Guy, if the market goes up, the SOL can rally well and double its price. Guy also examines the price action of SOL on the ETH pair. He concludes that Solana is following a pattern where a peak could coincide with the upcoming Ethereum Merge. The installation in question consists of a trough and a ripple pattern.
“It is possible for these 2 altcoins to fly with Ethereum Merge”
The analyst also talks about the Ethereum Merge upgrade planned for September. As Cryptokoin.com reported, Merge will migrate Ethereum to PoS. According to the analyst, any glitch or delay in Merge has the potential to blow Ethereum competitors. According to him, the possibility of a glitch or outright failure in Merge is increasing interest in ETH competitors such as Avalanche (AVAX) and Near Protocol (NEAR). Therefore, we can expect a rally in rival altcoin projects such as AVAX and NEAR as Merge approaches or if problems arise.
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