Recent tweets from high-follower Twitter analysts contain surprising predictions that say 4 altcoin projects may be on the verge of a strong rally.
Egrag predicts 300% rally for this altcoin
An analysis recently shared by Twitter’s @egragcrypto suggests that XRP is on the verge of a staggering 300% to 30,000% price increase. Egrag’s forecast is based on a key indicator that includes the 100, 200 and 300 moving averages (MA) on the 2-day chart.
https://twitter.com/egragcrypto/status/1651846540447608834
Egrag called the XRP rally “Kaboom”. He noted that when the 100 MA moves above the 200 MA and then above the 300 MA, XRP often rallies. A similar bullish cross occurred in early 2021 when XRP was trading below $0.3. The analyst believes that history can repeat itself.
We have included a detailed breakdown of Egrag’s recent analysis in this article from Kriptokoin.com. Other analysts are seeing green signals on other top 20 altcoins, especially BNB.
“These 3 Cryptos Have a Bull Pattern for 2023”
Elsewhere, BNB, MATIC and AVAX charts have strong bullish setups, according to crypto analyst Brian Bollinger. Specifically, the contraction of BNB within two converging trendlines indicates the formation of a symmetrical triangle pattern. Theoretically, this pattern is a continuation pattern that triggers an aggressive rally on the break of any of the trendlines.
As of now, BNB price has been turning down from the general trend line recently. This indicates that the probability of an impending correction is high. However, the bullish trend in the RSI reflects a higher probability of an upside breakout.
Therefore, it would be reasonable to wait for the weekly candle to close above the general trendline. At the time of writing, BNB price is trading in the $335.92 region, where it is up 4% on the day. A break of resistance to the upside will lead the bulls towards $480.
Polygon (MATIC)
In the middle of the last correction, MATIC broke back to the support trendline of an ascending channel pattern. Altcoin investors should pay attention to this support in the recent price behavior as it may affect the future price of MATIC.
MATIC is currently trading at $0.9784. Meanwhile, it was trying to stay above the descending trendline. If prices manage to stay above this trendline, buyers will trigger a new bull cycle within the pattern.
According to the analysis, it has a potential gain of 65-70% under favorable conditions. This momentum will offer MATIC price an opportunity to rally above the trendline.
Avalanche (AVAX)
On the daily chart, AVAX forms one of the famous bullish reversal patterns called inverted head and shoulders. Under the influence of this pattern, AVAX price is expected to bounce back from the $16.5 support. Also, this pattern shown in the chart below can be expected to complete the right shoulder formation.
A potential reversal will push the price up 28.5% to the $21.6 neckline resistance. However, a potential breakout from the above-mentioned resistance will be the key signal for a trend reversal. According to the analyst, this breakout could move AVAX price to the 29 region. The price is now trading in the $17.06 area, away from the critical resistance.
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