Popular crypto analysts predicted short-term rallies for 4 altcoins. Let’s take a look at the current price predictions for ADA, AAVE, COMP and AXS.
“This altcoin could explode up to 110%”
Analyst of YouTube crypto channel Coin Bureau shared his expectations for a rally in Cardano (ADA) price. The analyst known as Guy says ADA could more than double its current value after falling more than 50% since May:
In recent weeks, Cardano (ADA) has emerged as an ideal hedge against something going wrong with the Ethereum merge, and Cardano’s upcoming update could strengthen ADA’s price action.
Guy says his own Vasil hard fork, which will take place a week after the mid-September merge and Ethereum upgrade, could boost ADA to $1:
ADA could go up to $1 as a result of the Ethereum merge and Cardano’s own Vasil hard fork. This will lead to a 2x move in the short to medium term, which is a realistic expectation, especially since ADA’s price action in fiat and ETH terms supports this target.
ADA year-end price forecasts
Guy says the long-term outlook for ADA will depend on the network’s upcoming milestones. According to the analyst, price action will not only be related to the merge and Vasil hard fork. It will also be affected by other factors in September. In part of the broadcast, the analyst says:
There are additional macro factors that could push ADA and other cryptocurrencies even higher or much lower later this month.
Altcoin Sherpa updates AAVE, AXS and COMP forecasts
Altcoin Sherpa says that Aave (AAVE) could hit $300 by the second quarter of 2023. The Twitter analyst says buying AAVE while in a sideways trend could be an absolute steal given the huge upside potential:
It will eventually be an absolute steal at these prices. Most of the emissions already gone / relatively no more selling pressure Large TVL [total value locked] still standing. Still one of the best bluechip DeFi projects. Long history of being tested in battle…Wait for consolidation.
Compound (COMP)
Sherpa then says that Compound (COMP) offers potentially positive returns to investors. The altcoin is up 3.7% in the last 24 hours and is currently trading at $51.29. Sherpa says this about COMP:
Although most DeFi tokens have been dead since 2021, there are still many good opportunities for active investors. An example is COMP, which has had several bear market rallies. However, if you’re a passive investor, [I think] it’s best to scale to BTC and ETH.
Axie Infinity (AXS)
The analyst is cautious about buying Axie Infinity (AXS), citing uncertainties in this crypto industry. Sherpa’s expectation for the AXS price was quite high as it would lead the gaming industry:
I haven’t looked at this chart for a while. I think gaming will be very powerful in the future, but I’m not sure how the [play-to-win] narrative will go. [To be determined] if this is a buildup or just another stop before one more leg goes down, the trend is still bearish so I wouldn’t rush it.
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