Many investors are wondering what altcoin projects are expected to rise. Analysts are also making statements about this. In this article, we will share the altcoin projects that analysts have noticed recently and are seen as ready to increase in value. Here are the details…
Altcoin Sherpa calls “long” on 3 altcoins
Firstly, Altcoin Sherpa says Litecoin (LTC), Apecoin (APE) and SushiSwap (SUSHI) appear poised to rally against the bear market. He said that these cryptos are most likely to show upward price action. “Best current coins to go long in the short term: APE, SUSHI, LTC,” he said. Sherpa is also switching to Binance Coin (BNB), saying the cryptocurrency issued by the giant global crypto exchange could rally as well. The analyst uses the following statements:
There is Mega EMA [exponential moving average] support for 4 hours around here. I think this is a good area for a long position, but I don’t see many support/resistance levels. Still a good thing to consider for long-term players.
Levels to watch on LINK, APE and FTM
Also, the analyst points to some price levels for Chainlink (LINK). Chainlink has been in the round for quite some time as the price has shown significant strength. The latest recovery is assumed to continue for some time until it returns to its initial target of $9.88 to $10.1. The analyst said, “I bought this shitcoin for a partial position. This will be a pretty passive trade for me and I will not be active about it. I will sell for over $10,” he says.
Phantom price has also exhibited fierce strength, as we reported on cryptokoin.com, and has increased drastically in the last two weeks. The analyst said for FTM, “The big power in the last few weeks, I’m not sure what the catalyst is. Personally, I would be careful in this area, I would not shop here.”
Finally, Apecoin has also been experiencing a U-shaped recovery since it dropped to $5. However, the price is witnessing a slight bearish pressure that is believed to drag the price down a bit further and then ignite a notable rise. The analyst believes the staking narrative may hold true for a while, but certainly not for long. “If the price doesn’t clear this $4.20 zone, we’re likely to see a breakout,” he says. It then points to the $3 target.
Another analyst drew attention to different altcoin projects
Another analyst, Sahana Vibhute, also highlighted some altcoins and shared levels to watch out for. The first coin pointed to by the analyst was Polkadot (DOT). DOT price is trading inside a falling wedge, which is largely considered bullish. Therefore, the price may rise above consolidation very soon. Polkadot could face another significant price drop towards temporary lows around $5. This could trigger a big rise. Also, the upside could help the price break the resistance and reach levels above $6 soon.
On the other hand, the analyst pointed to Binance Coin (BNB), similar to Altcoin Sherpa. Binance Coin price has gradually increased since recovering from mid-June lows. The recent market crash had pushed the price below the trendline. However, BNB price has quickly recovered and is following a notable uptrend.
High expectations for SHIB and CRV
Another coin in the analyst’s focus was the Shiba Inu (SHIB). Shiba INU price is showing bullish signals as the token is heading towards the top of its bullish pennant, as the buying volume has accumulated significantly, so the probability of a bullish reversal remains significantly high. With a breakout, SHIB price could retrace the initial levels above $0.00001 and then secure levels above $0.00001050.
Finally, the analyst drew attention to Curve (CRV). Curve DAO had broken lower support during the last decline, but it quickly recovered and now appears to be heading towards resistance. After a notable rise, the price consolidates firmly, thus forming a bull flag, thus confirming a significant bullish claim soon. If the price manages to break through the resistance, it could invalidate the downtrend and reclaim $1 in a short time frame.
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