Crypto market analysis channel CryptoBusy shared bullish expectations for 3 altcoins. However, the analyst will stay away from the two altcoins as they do not show much promise in the short term. Bluntz, a popular crypto analyst, is extremely bullish on Solana. Finally, analyst Kelvin Munene assesses Stacks’ bullish breakout.
CryptoBusy’s bull and bear altcoin selections
Phantom (FTM)
The analyst states that FTM broke out of a potential wedge formation on its daily chart last week. Also, the altcoin’s price is currently standing at a key support level, which it has tested several times in the past. According to CryptoBusy, a buying opportunity for FTM will be when its price reaches $0.30. If this happens, the analyst predicts that the price of the altcoin will rise to $0.50 in the coming weeks.
FTM price / Source: CoinMarketCapAt press time, FTM was trading at $0.29, just under $0.30. This comes after the altcoin has seen a good 11.71% increase in its price over the past day. As a result, FTM’s weekly performance increased by over 9%.
Cardano (ADA)
The analyst shows a slight bearish bias on ADA. He also states that there is almost no buying pressure on the Ethereum killer’s charts. However, CryptoBusy predicts that a break above $0.3 will cause the price of ADA to surge to around $0.35. However, he warns that the $0.30 mark could act as a strong resistance level for ADA’s price in the next few weeks. In general, the analyst will stay away from ADA. It will also not actively buy ADA until it goes above $0.30.
ADA price / Source: CoinMarketCapAt press time, ADA was still trading below $0.30 at $0.279. However, the altcoin managed to post gains of more than 7% in the past day. Meanwhile, there was a 77.34% increase in ADA’s 24-hour trading volume. This caused it to remain at the level of approximately 283 million dollars.
Polygon (MATIC)
CryptoBusy’s analyst is bullish on MATIC and shares his belief that he has good long-term prospects. The analyst says that $0.95 will be a key level to watch. He also states that the altcoin price may want to retest this level soon. On the other hand, there is currently nothing stopping MATIC from falling to $0.40. The analyst notes that he will apply Dollar Cost Average (DCA) to MATIC to reduce the risk of significant loss. It will continue with this investment approach until more bullish pressure appears on the altcoin’s charts.
MATIC price / Source: CoinMarketCapMATIC is changing hands at $0.65 after seeing a 6.93% price increase the other day. Despite this, MATIC’s weekly performance was still in the red zone at -1.03%. Since MATIC hit an all-time high of $2.92 in December 2021, the altcoin price has dropped more than 77%.
Render Token (RNDR)
RNDR is the most bullish of all altcoins in CryptoBusy’s latest analysis. The analyst emphasizes that the altcoin price is standing on a positive trend line as well as significant support. The bullish targets for the RNDR are $2.20 and $2.60. Once again, the analyst warns that the possibility of the altcoin price falling still exists. This will be especially true if BTC drops significantly over the next few weeks. In such a case, the analyst predicts that the price of RNDR could fall as low as $1.70 or even $1.30.
RNDR price / Source: CoinMarketCapHowever, in the last 24 hours, RNDR has managed to break above the upward target of $2.20 set by CryptoBusy. This meant that the crypto was worth about $2.33 at press time after a 16.11% price increase.
aptos (APT)
Analyst will stay away from APT in the near future. He adds that he will not follow APT until its price rises above $9.30.
APT price / Source: CoinMarketCapAPT has seen a price increase of over 5% in the last 24 hours. However, it was still trading below $9.30 at around $7.18. The altcoin’s 24-hour gain turned its weekly performance even greener to +13.57%.
SOL still has 100% growth potential
Bluntz Capital, a popular crypto trader and analyst, is extremely bullish on Solana (SOL). According to the analyst, the SOL witnessed a solid and strong reaction from a major support level accompanied by a clear three-wave decline when observed on higher timeframes. Bluntz adds that there is a 100% probability that the price of SOL will rise further.
According to press time, the altcoin was trading at $16,746 after experiencing a price increase of 5.44%. As a result, SOL was trading much closer to its daily high of $17.12, rather than a 24-hour low of $15.76. The crypto’s price surge also pushed its weekly performance further green by +10.23%. In addition, SOL’s 24-hour trading volume increased by over 60% in the past day. This remained at the level of approximately 326 million dollars. SOL hit an all-time high of $260.06 in November of 2021. Since then, the altcoin’s price has dropped more than 93%.
Daily chart for SOL / Source: TradingViewSOL price climbed above a key resistance at $16,744 earlier in today’s trading session. However, the bears were quick to push the altcoin’s price back below this level. However, the price of SOL was still trading above the 9-day EMA line at press time. He also wanted to break above the 20-day EMA line. If the altcoin price can break above the 20-day EMA in the next 48 hours, it will have a clear path to the next resistance level at $19,844. On the other hand, failure to close above the technical indicator in the next 2 days will put the price of SOL at risk of falling to $13,790 next week.
Is a bull break imminent for this altcoin?
In the past 24 hours, bulls in the Stacks (STX) market have reached an incredible milestone, pushing the price to a 30-day high. STX opened at $0.6256 and surprisingly rose to $0.7724, showing significant bullish momentum. This bullish trend was still in effect as of press time, with a 17.51 percent gain pushing the price to $0.7394. With this spectacular price move, STX’s market cap increased significantly, increasing 17.54 percent to $1,029,281,779. Also, 24-hour trading volume increased by 189.53% to $348,832,353.
STX 24-hour price chart / Source: CoinMarketCapBollinger bands on the STX 4-hours price chart show significant fluctuation with the upper band at $0.77276514 and the lower band at $0.47674266. The widening of Bollinger bands indicates higher market volatility and the possibility of significant price change. Also, the development of green candlesticks on the chart contributes to the optimistic narrative. Green candlesticks reflect buyer dominance and upward price action when the closing price is higher than the starting price.
As a result, the STX market is experiencing solid bullish momentum with significant price increases, increased market cap and high volatility. This, in turn, offers trading opportunities for savvy investors.
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