Two crypto analysts, who are followed on social platforms, shared their expectations from 4 altcoin projects that we can see explosion in the coming days. Guy, host of the YouTube channel Coin Bureau, is expressing bullish prospects for Ethereum (ETH).
Coin Bureau analyst expects further recovery for this leading altcoin
Etheruem (ETH) is well positioned to hit higher prices this year after rallying over 55% from its 2022 low. According to the popular crypto analyst, the deflationary nature of ETH, which emerged when ETH switched to a proof-of-stake consensus mechanism last year, could potentially trigger a new record during the next bull cycle. Guy noted the following about Ethereum in a new video:
I think we will see a higher ETH price by the end of the year. In the throes of the next bull run, it seems entirely realistic that deflation will push ETH above ATH levels.
Guy also warns about some of the risks Ethereum faces. Regulations, security status, and competition with other L1 Blockchains include:
First, there is the general crypto and macro environment. As impressive as Ethereum’s upgrades are, they won’t move the price if the wider environment is in the toilet. Although the markets have been getting better lately, I think it’s a little early to expect this rally to continue unabated.
There are also broader concerns about ETH’s regulatory status. While I don’t think a security definition is likely, I would say it’s something we need to take into account. Another risk, of course, is its centralization. I’m also not unaware of the fact that Ethereum is competing with other layer-1s. Many are well-funded and grow their ecosystems.
What is the outlook in the short term?
Elsewhere, popular Twitter analyst TradingShot predicts that the Ethereum price could rise in February. The analyst stated that ETH price is forming a ‘handle’ pattern and it could seek support at $1,440, which could rally to the September high of $1,795.
As for other altcoin projects that are expected to rise, the expectations from 3 altcoins compiled from different analysts are as follows…
XRP, ADA and SHIB can print extraordinary gains
First, with the expectation that Ripple will prevail over the SEC, XRP has become one of the favorite altcoins in the market, with its total market cap exceeding $1 billion in the last 24 hours. Murkser, a prominent altcoin analyst, predicts that XRP will ‘rally’ soon if it rises above $0.044. The analyst noticed a similar price trend in 2017, which could boost the token if it follows the historic breakout. XRP price is likely to retest its resistance near $0.4321 next week to confirm its February uptrend.
Cardano (ADA)
Cardano is performing relatively well among other altcoins due to the expectation of the stablecoin launch DJED, which we quoted as Kriptokoin.com. However, if the altcoin market does not recover from the current trend, Cardano may continue its downtrend. Analyst Shayan Chowdhury says that if there is a break above the 23.6% Fib level, ADA price could climb to $0.42.
Shiba Inu (SHIB)
Finally, SHIB managed to hold its position for a potential upside as it did not slow down on a volume basis. MadWhale, a famous altcoin analyst, predicts that the price of SHIB could rise to $0.00003 in the first week of February
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