Analyst Sheldon of Crypto Banter predicts that the crypto market will be bullish in the next 2-3 weeks. However, he warns that this bullish thesis will only hold true as long as Bitcoin remains in a position above the critical support of $29.5K. The analyst shares 10 altcoin projects on his radar for the bull market.
It will cool the positive momentum of BTC a bit, then…
The analyst predicts that BTC closing one-day candles above $32,000 in the next few days could lay the foundation for the cryptocurrency to climb between $35,000 and $40,000 in the coming weeks. On the other hand, BTC closing one-day candles below $29.5K could lead to a correction towards $27,000 in the next few weeks.
Despite the bullish outlook for the leading cryptocurrency, the analyst states that there is still a fair amount of selling pressure on BTC’s weekly chart. However, he says, BTC will be confidently bullish if it closes a weekly candle above $32,000. His positive belief in the market leader is due to the weekly RSI being in oversold territory and the indicator suggesting there is still strength on the upside for the next 2-3 weeks. The analyst predicts that if BTC closes a weekly candlestick above $32,000, it will rise to between $35,000 and $40,000.
BTC weekly chart / Source: TradingViewAlso, the analyst predicts that the positive momentum of BTC will cool a bit to give the altcoin market a chance to catch up. The analyst predicts that the next big rally for BTC will take place from October to December this year. Accordingly, he says that BTC will likely reach $50,000 by the end of the year.
Altcoin projects on the analyst’s radar
Ethereum (ETH)
When it comes to altcoins, the analyst states that the altcoin leader Ethereum (ETH) is standing on a support level. He also shares that a potential trade entry for the coin is at $1,900. Similar to BTC, Crypto Banter analyst is also bullish on ETH. In this context, the analyst predicts that it will rise to $ 2.6 thousand by April 2024.
Avalanche (AVAX)
Meanwhile, Avalanche (AVAX) was recently rejected by the 200-day MA. As a result, he warns that the price of the coin will fall as low as $12.20 in the next few days. He says that if he reaches this price point, he will open a long position on AVAX.
Daily chart for AVAX / Source: TradingViewPolygon (MATIC)
He also considers another altcoin, Polygon (MATIC), in the analysis. The analyst says that MATIC is hovering over a support zone at the time of the analysis. Therefore, he predicts it will likely fall as low as $0.65. If this decline does not materialise, the analysis predicts a massive jump in altcoin price as all of the RSI indicators on the lower timeframes have bottomed out in the oversold zone. In this scenario, the analyst’s upside target is between $0.74 and $0.76. He also states that if the buying support continues, the altcoin will rise to $1.
Theta Network (THETA) and Dogecoin (DOGE)
He doesn’t have much to say about the altcoin. However, he predicts THETA to drop to $0.675 in the short term. Meanwhile, the popular meme coin Dogecoin (DOGE) is “sitting in an excellent buy zone,” according to the analyst. That’s why the analyst shares his long-term bullish stance for the cryptocurrency. He predicts DOGE will explode in the next 2-3 weeks. If this happens, he says his upside target would be $0.1 for the price of the meme coin. The analyst also adds that the altcoin price will likely continue to rise as high as $0.15.
Left (LEFT)
He also shares his views on Ethereum killer Solana (SOL). He predicts that the altcoin could rise as high as $38-40. This bullish prediction comes after the coin finally broke the $26 resistance in the past few days. But before this potential rally, Crypto Banter analyst warns that SOL will retest $26 in the next 24-48 hours.
LEFT celebrity chart / Source: TradingViewCardano (ADA
The analyst predicts that Cardano (ADA), another of the Ethereum killers, could offer traders several short-term long opportunities. He states that traders and investors will want to watch the RSI indicators on ADA’s lower timeframe charts as they could bottom out in the oversold zone in the next few days.
Ripple (XRP)
As you follow on Kriptokoin.com, the case between Ripple Labs and the Securities and Exchange Commission (SEC) has finally been decided. Following this decision, the Ripple (XRP) price rose more than 70% in just 24 hours. Despite this significant gain, the analyst still predicts that the price of XRP will continue to rise in the coming weeks. He predicts that if this bullish thesis is confirmed, the altcoin price will rise as high as $1.30. However, the analyst states that for this to happen, the altcoin must first exceed $1. He also says that BTC will need to rally before XRP and other altcoins do.
XRP daily chart / Source: TradingViewSushiSwap (SUSHI) and NEAR Protocol (NEAR)
The analyst says that when it comes to the DeFi market, it is bullish, especially on SushiSwap (SUSHI). Accordingly, he expects SUSHI price to explode in the short term. However, the analyst predicts that the price will experience a slight pullback to $0.75-0.76 before this happens.
Finally, the analyst also mentions NEAR Protocol (NEAR) as one of the cryptocurrencies to watch in the short term. According to the Crypto Banter analyst, there is probably a price pump on the cards for the altcoin in the coming weeks. The analyst predicts that if this happens, the altcoin price will reach $2.5.
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