Analysts: These 5 Altcoins Are The Coins Of The Next Run!

With Bitcoin (BTC) losing market dominance, buyers are now turning to opportunities in the altcoin market, according to most analysts. ADA and SHIB are among the top names giving green signals for the next bull.

Analysts say the next bull will be strong for these 5 altcoins

Cardano (ADA)

In his current analysis, Analyst Gambardello predicted that the ADA price will climb to $7.80 in the next bull cycle. Gambardello claims that as banks and financial systems fail, money moves into the crypto market. Therefore, he believes that the real crypto bull market will start in about a year.

Cardano price needs to increase almost 2,400% from its current price to reach Gambardello’s target of $7.80. This expectation is supported by recent partnerships provided by the project.

Output Global (IOG), the company behind Cardano, has highlighted Cardano’s long-term outlook in a new report. This week launched node v.8.1.2, which brings updates to the Plutus interpreter. In addition, the mainnet beta version of the Mithril protocol has also been released. All this was an important step for the Cardano network.

Shiba Inu (SHIB)

The Shiba Inu is on the list because of recent abnormal whale activity. Additionally, token burn tracker Shibburn reported that 44,805,449 SHIBs have been burned in the past 48 hours.

According to the listing on the Shibburn website, 12 transactions moved a total of 9,438,088 Shiba Inu to the dead wallet. Details of the transaction provided by Etherscan show that one wallet among them became active after about two years. The wallet transferred all its balance to the dead wallet after 2 years of sleep. This was also a significant whale move supporting the SHIB price.

SHIB also received indirect support from Elon Musk. On July 25, Musk unexpectedly mentioned “Shiba Inu” while talking about the new X-App. As quoted by Kriptokoin.com, the SHIB price rose roughly 3% that day.

The positive news is that it carries the upward momentum until the end of the week. SHIB is currently up over 3% over the last 24 hours. It peaked after the release of the Shibarium Bridge beta version ahead of the Shibarium launch, which is expected to take place in August.

Frax Share (FXS)

FXS price is currently trading inside a long-term bullish pattern. Technically speaking, it has been trading in a descending parallel channel since hitting its highest level on February 9. Although there were a few instances where the price broke out of the channel, it formed long wicks and quickly turned inside the channel (red ellipses).

After breaking above the middle line of the channel on July 3, it formed a higher low and is currently approaching the resistance of the channel. This move is a bullish signal that the bulls are actively buying lower. If the pattern is successful, the bulls’ first target will be $10.6, which coincides with the horizontal resistance area created on April 17.

In the short term, it needs to protect the $6.2 support area to maintain its rallying outlook. FXS price could revisit $6.2 before surging to the next resistance level at $6.9. Long-term technical indicators support the idea that FXS price will rise further above the descending parallel channel. However, a short-term correction may occur before this happens.

Casper (CSPR)

Casper, a PoS Blockchain based on the CBC specification, has gained over 15% after announcing a collaboration with INX. Last week, it also saw a significant increase in on-chain volume. This fluctuation was effective in attracting the attention of investors. Especially in the weekly time frame, it showed a steady growth and gained an impressive value of 14.58%.

A contributing factor to Casper’s rally can be attributed to his strategic partnership with INX, a US-regulated broker-dealer. Casper’s equity was tokenized and listed through this collaboration. This, in turn, boosted investor confidence and further supported the upward trend of the cryptocurrency. This strategic move allows Casper to enter new markets and expand his reach to a wider audience.

In terms of technical analysis, Casper gives promising signals. The daily chart reveals the formation of an ascending falling wedge pattern, indicating a potential trend reversal.
CSPR also surpassed the 25-day exponential moving average. It is currently testing the 50-day MA. If the uptrend continues, the next resistance will be at $0.40. CSPR is currently trading at $0.03897840.

Terra Classic (LUNC)

Technical analyst Javon Marks says the LUNC price is poised to rally over 300%. His predictions came despite LUNC’s poor performance last week.

The analyst says that the price increase for LUNC will come with the erosion of critical resistances. It has drawn an astonishing price rally above 387% on the technical chart. According to the analyst, “The price boom continues. Movement of over 387 percent may still be on the way.”

Marks was quite ambitious in his predictions. He suggests that the lowest price rally will be around 369%. LUNC price is trading in the 0.00008195 region, where it is down on the daily and weekly timeframes.