As Bitcoin continues its sideways movement above $19,000, uncertainty among crypto investors is increasing. However, it seems that there are some cryptocurrencies that have bullish potential even in this uncertainty environment. Recently, three crypto analysts shared three altcoins that they think will explode soon. These are Sushiswap (SUSHI), Ethereum (ETH), and Binance Coin (BNB).
Analysts shared 3 altcoins that they think will explode soon
“Sushiswap (SUSHI) will make a splash soon”
Crypto analyst Altcoin Sherpa, nicknamed Altcoin, told his 184,300 Twitter followers that he expects a jump for SUSHI. The analyst attributes this forecast to the exponential moving average (EMA) of Sushiswap and the support and resistance levels indicated by the Fibonacci (fib) retracement level. According to him, the popular DeFi token will take off after some consolidation. However, the analyst also says that “some weird news” from investors may emerge before they take the leap. At the time of writing, SUSHI is changing hands at $1.16, down 7.5%.
Meanwhile, Sherpa also announced that it is optimistic about its decentralized oracle network, Chainlink (LINK). The analyst underlines that the altcoin is extremely suitable for long-term investment. Expressing that LINK is in the accumulation range due to the stagnant price movement in the recent period, Sherpa claims that eventually investors will see a great rise. At the time of writing, LINK is trading at $6.92, down 1.44% in the last 24 hours.
“Ethereum (ETH) is preparing for a major breakout”
Justin Bennett, another crypto analyst, tells his 109,900 followers that Ethereum is preparing for a major breakout. Expressing that he expects an explosion in the altcoin market in general, Bennett urges investors to buy. According to him, most of the big cryptos, especially ETH, will rise. Bennett states that ETH price is trading in a descending channel. He then claims that the asset is preparing for a breakout against the resistance near $1,300.
In addition to these, Bennett lists the bullish expectation for the crypto money market in general. According to him, the US dollar risks an upside rejection after its recent rally. If this happens, the strength of the dollar will decrease and increase the probability of a rise in crypto prices. In addition, the analyst also expects a rally in the S&P 500 index associated with crypto prices. He states that such a rally could trigger a run in altcoin prices.
“Binance Coin (BNB) price may soar with this news”
According to analyst Tony Montpeirous, Binance Coin has reached a major milestone. As we reported on Kriptokoin.com, Binance has recently announced a partnership with the airline ticket buying platform Crypto Air Tickets. With this partnership, BNB will take its place as a payment method for air ticket sales on the platform. According to the analyst, the news has the potential to skyrocket the BNB price. However, the leading altcoin remains under pressure for the time being due to the latest BTC sales.
Stating that the BNB price has fallen by 10% since the beginning of the month and is traded at $269, the analyst underlines that the techniques indicate the continuation of the decline. According to him, the 8-day exponential and the 21-day simple moving average intersect on the daily chart. This increases the probability of a 9% drop in price to $250. However, the analyst also underlines that a big rally in BNB price can be seen with the increase in Bitcoin price.
41577
