The crypto money market went through a recovery period after the bear market it had experienced for more than a year. Meanwhile, there are predictions that say Bitcoin will rebound to its former highs within the year. These levels will be decisive for technical analysts in XRP, PEPE, GRT, AVAX, BTC and QNT prices.
The levels analysts expect in XRP, PEPE, GRT, AVAX and QNT
Popular crypto analyst Michael van de Poppe has included his strategies for PEPE, GRT, AVAX, and QNT in his current analysis.
Pepe (PEPE)
The first crypto Poppe mentioned was Pepe (PEPE), which has been rallying for the past few weeks. The analyst noted that PEPE is in a bear market relief rally. Additionally, the meme coin will need to stay above $0.00000173 to continue upwards.
The price of PEPE broke below the 9 and 20 EMA lines on the 4-hour chart today. At the time of writing, it is trading in the $0.0…01676 region, where it moves sideways.
The Graph (GRT)
Poppe points out that GRT has lost a crucial support level at $0.13. He says he will wait for this altcoin to get back to that level before it seriously reconsiders doing it.
Unlike PEPE, the price of GRT managed to cross the 9 and 20 EMA lines on its 4-hour chart, where it continues to trade at the time of writing. Its price is currently trading slightly lower at $0.1225.
Avalanche (AVAX)
Van de Poppe stated that it would be crucial for him to recover $16.50 on AVAX. On the other hand, he says that if the downtrend continues for AVAX, he can enter a long position.
AVAX price is currently down 2.5% to trade at $14.92. The altcoin has lost around 3.5% since last week. As we have covered in the cryptokoin.com analysis, the bulls are having a hard time technically.
Quant (QNT)
Finally, Poppe shared his thoughts on Quant (QNT). He explained that he needed to turn $112 into support before he could consider entering a long position. If this happens, the analyst believes the altcoin’s price could climb to $175.
Despite Van de Poppe’s expectation for QNT to trade above $112, the altcoin fell short of that target. It is currently trading at $105.86, where it is down 2.5% on the intraday.
Dark Defender says XRP price will rise 800% by year’s end
Another popular crypto analyst, Dark Defender, suggests that the XRP price will be trading at $3.82, up 880% by the end of the year. The analyst also shared that there is an apparently current recession in XRP activity. He says this could be a harbinger of an impending break.
Their analysis included a detailed review of XRP’s weekly chart with a particular focus on historical patterns. Accordingly, a breakout may occur after a 13-week ban period. This move brings us down to late August from the current date. However, the analyst also acknowledged the possibility of this event occurring in any previous week.
I've never seen the #XRPCommunity silent this much.
This means #XRP is ready.
Based on our pattern, the break is imminent anytime from now to #August.
When the resistance line is broken, XRP will first hit $1.33 & then $3.82
I trust #Ripple, XRP
Chin up; our day is near. pic.twitter.com/KdpjzPCS0M
— Dark Defender (@DefendDark) May 13, 2023
Dark Defender expects XRP to conquer the key resistance line after the breakout and lay the groundwork for an initial target of $1.33. The tracking target they recommend sits comfortably at $3.82.
Interestingly, this timeline began with Ripple CEO Brad Garlinghouse announcing that the company had filed a lawsuit with the SEC in December 2020 over the alleged sale of $1.3 billion through the regulator’s “unregistered, ongoing digital asset securities offering.” may be matched by the expectation that the war will end.
Credible claims that Bitcoin will also make ATH this year
In Bitcoin investment strategy, the crypto analyst nicknamed Credible says that Bitcoin (BTC) could break new highs this year despite being rejected at $30,000 recently. The analyst predicts that the BTC price will not see $20,000 again in the short term:
There is a gap at $20,000 and that gap is where many watch and use as justification for a deeper pullback from current levels. If I am correct in my thesis regarding ATH levels in 2023, this gap should not be filled. If you were to ask me if $20,000 or $70,000 came first, I’d say $70,000 or more.
There’s a gap at 20k that a lot have been eyeing up and using as justification for a deeper pullback form current levels.
If I’m right about my thesis for new ATH in 2023- that gap should go unfilled.
If you were to ask me which comes first- 20k or 70k+, I’d say 70k+.$BTC https://t.co/dgJxmHKh6u
— CrediBULL Crypto (@CredibleCrypto) May 14, 2023
Credible also applies this to Bitcoin, commenting on an Elon Musk tweet that “the most fun outcome is the most likely”. Using Musk’s logic, the analyst says that a sudden move to ATH levels this year is the most likely outcome for Bitcoin:
Bitcoin’s ATH levels in 2023 are in the midst of a banking crisis, while many are sitting on the sidelines awaiting the 2024-2025 halving. Definitely more fun than boring sideways price movements in BTC over the next two years.
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