Cryptocurrency analysts continue to come up with their forecasts for various altcoin projects. In this article, we will convey the expectations of analysts for the four coins in particular. Here are the details…
When does the bear market end?
Rekt Capital, a widely followed crypto analyst, has set a timeline for the end of the Bitcoin (BTC) bear market woes. The analyst is setting the time for the current BTC bear market compared to last year’s bull market. The analyst points out that almost 400 days have passed since BTC broke a record with $69,000 in the bull market. explains that this marks the end of the bear market. Historically, bear markets end after the absolute bottom price has passed 365 days from the previous bull market peak, according to Rekt Capital.
Stating that Bitcoin is currently below the $17,150 resistance, the analyst thinks that a close below this level will provide confirmation of resistance. Also, staying below $17,150 could send BTC to lows of $15,400. “Another retest of $15,400 may not hold, especially after such a weak response since November.”
What are the prospects for popular altcoin projects?
The analyst then turns his attention to Ethereum (ETH) rival Cardano (ADA). Unfortunately for ADA holders, Rekt Capital foresees more problems for the smart contract platform. According to the analyst, there has been no major support on the downside for a while. Therefore, more negativity for ADA seems likely. According to the analyst, the next big stack for ADA is $0.15. This represents a 40 percent decrease relative to current prices. Meanwhile, another analyst, Tony M., said, “The Cardano price may be preparing for a terrible drop. “While all signals are bearish, bulls need to rally significantly to assess a safe countertrend scenario,” he says.
Rekt Capital then looked to Monero (XMR), a cryptocurrency specifically designed to make transactions untraceable. According to the analyst, who says that XMR has made the low range the new resistance, XMR will revisit the accumulation range as a result of the ongoing rejection process.
Finally, Rekt Capital analyzes the Basic Attention Token (BAT) and predicts that the price of the browser token could drop early next year. It signals that BAT is challenging a multi-year high bottom support. He emphasizes that historically these levels preceded quarterly lows. According to the analyst, if BAT closes above the high low by the end of the year, then a downward movement is likely in the first quarter of 2023.
21552
