An analyst from Crypto Banter shared his expectations for various altcoins in a video he recently posted. He predicted that several altcoin projects could offer opportunities for long positions in the next few days. In the analysis, he pointed to Bitcoin (BTC), Stacks (STX), 1inch (1INCH), Arbitrum (ARB), Uniswap (UNI) and several other altcoins. He mentioned that trading opportunities for these could emerge over the next few days. Here are the details…
Analysis begins with Bitcoin and DXY
The analysis showed that the price of BTC is facing a critical resistance level. The analyst noted that the 9 and 18 EMA lines on the weekly chart, along with the upper end of the Gaussian channel, act as support around $28,400. The market leader needs to hold above this level to maintain its bullish momentum. According to the analyst, if the crypto fails to hold above this level and returns to the Gaussian channel, this indicates a potential shift in the overall market trend.
In the analysis, DXY, which represents the value of the US Dollar against a basket of other currencies, was also discussed considering that it could potentially impact the crypto market. Critical moves come if DXY completes its decline and stays below the 100.78 level. It leads to a rally for riskier asset classes, including cryptocurrencies.
What are the trading strategies for some altcoin projects?
He also shared potential trade setups for several altcoins. The video explains possible trading strategies for STX, 1INCH, ARB, UNI, Sui (SUI), and Ocean Protocol (OCEAN). While looking at STX, he noted that the altcoin has retraced the 200-day MA and potentially entered an uptrend, with an opportunity to target the next major resistance at $1. Meanwhile, 1INCH recently broke out above a key resistance level. The next resistance levels are targeted at $0.58 and $0.69. He also stated that the ARB is in the process of exiting a resistance zone. He shared that he could potentially target $1.62 in the next few days.
According to Crypto Banter analyst, UNI is trying to retrace the 200-day MA line. For this, long opportunities open up for UNI. If this happens, it will rise as high as $1.33. SUI managed to break past the 200-day MA line and was consolidating above the technical indicator at the time of writing. As a result, the analyst predicted that the price of the coin could rise by $1.45. Meanwhile, OCEAN, as we reported on Cryptokoin.com, was attempting to break a major $0.3940 resistance zone. But he predicts it will correct to the 200-day MA to set a new high low.
OP, APT, ATON, SOL, TRIAS, PERP, JOE: What’s next?
In addition, it also identified potential trade entries for Optimism (OP), Aptos (APT), Cosmos (ATOM), Solana (SOL), Trias Token (TRIAS), Perpetual Protocol (PERP), and Trader Joe’s (JOE). According to the Crypto Banter analyst, the OP was showing potential for a positive trend reversal. If it stays above $1.4785, it targets $1.51 and $1.68. Additionally, he predicted that the price of APT could rally to $20 and potentially higher in the long term as the altcoin recently broke through a key resistance level. However, the analyst warned traders and investors who want to take a long position in ATOM. Because the altcoin was approaching a resistance zone. This will cause the crypto price to drop to $15.40 over the next few days.
Meanwhile, TRIAS was in a positive trend. Technical data showed that this could continue for the next few days. Furthermore, the analyst predicts that PERP could rally to $0.92 if it can maintain its position above the 200-day MA. He also advised investors and traders to wait for the SOL to rise above $27 before long. Because if the SOL is rejected by the $27 mark, it could be at risk of falling to $21.70. Finally, Crypto Banter analyst pointed out that Trader Joe is an Avalanche ecosystem coin. Given this, he predicted that JOE could follow the same trend as Avalanche (AVAX). Therefore, the analyst predicted that with AVAX rallying in a few days, JOE could rally as well.
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