Crypto strategist Kevin Svenson predicts multiple growth for Loopring (LRC). Analyst Gregor Horvat says CAKE is waking up. Analyst Nicholas Merten notes that the leading altcoin Ethereum has a solid chance of rallies in the coming months. We have compiled the forecasts and comments of analysts for our readers.
Kevin Svenson: This altcoin could do 2x
Loopring (LRC) is a protocol that uses zero-knowledge (ZK) proofs to ensure users’ privacy when transacting on public blockchains. As you follow on Kriptokoin.com, Loopring announced in March that GameStop has launched the beta version of its NFT platform, which is designed to provide users with fast, secure and inexpensive access. Crypto strategist Kevin Svenson follows altcoin price action. According to Svenson, it is possible for LRC to increase by 2 times from current prices. The analyst attributes this increase to a partnership with video game retailer GameStop. The analyst expresses his views as follows:
LRC could easily be doubled in my opinion. The GameStop NFT partnership is huge. It’s still undervalued. I’m in the long position.
Gregor Horvat: Pancakeswap (CAKE) wakes up
Crypto analyst Gregor Horvat says CAKE has woken up and continues his comments: We saw CAKE today trying to wake up from the strong predicted support zone. CAKE has bottomed out, possibly from the perspective of the Elliott wave.
As you can see, CAKE is already breaking through the EW channel resistance line after noticing five wave cycles completing within wave C of an ABC correction from the highs. That is, it forms the bottom. We can wait for the bulls to appear. Note that we need an impulsive rebound to level 10 just to confirm a bullish reversal.
Will the leading altcoin be 5 thousand dollars?
Crypto analyst Nicholas Merten says Ethereum (ETH) has a solid chance of rallies in the coming months as the highly anticipated Merge approaches. The DataDash server tackles a recent prediction by BitMEX founder Arthur Hayes, who predicted an ETH rally to $5,000 following a successful transition to Proof-of-Stake (PoS) as well as a reversal of monetary tightening from the Federal Reserve. .
Merten also says that a recent 180-degree return from the Fed is likely to be overly optimistic. However, he notes that a slowdown in interest rates is also on the table. Ethereum has seen major bear market rallies in the past. However, Merten states that $5,000 ETH is still a remote possibility. The analyst continues to explain his views as follows.
All this time I’ve been waiting for the Fed to come back. I think there is a very good chance that in September Ethereum will finally really capitulate. However, I see this reflected in the price action. I think people are getting a degree of trust now. With all that in mind, I don’t anticipate going up to $5,000. This is completely foreign to what we had in previous bear markets.
Meanwhile, since the lows here, we’ve had about a 102% increase in price. Let’s take a look at previous bear market rallies. We had 140% returns from absolute lows in previous months (in 2018). We grew 360% in 2019. These are all great rallies to keep in mind. One might say, “This will be a 472% rally not far from bear market lows.”
Source: DataDash/YoutTubeThe realistic scenario we have to keep in mind here is somewhere between $3,150 and that $1,700. That means we’re probably asking for a $2,200 price tag for Ethereum. While this is phenomenal, getting something between $2,200 and $2,300 in this range would be in a much shorter time frame I think.
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