Crypto analyst David expects another 30 percent from EGLD, which has made a strong debut. Popular analyst Ali Martinez says leading altcoin rival Solana will do more. Analyst Justin Bennett predicts that Ethereum itself will make an upward move.
EGLD price prediction: Altcoin aims for around 30% increase!
MultiversX (EGLD) price declined below the long-term support zone of $68 in June 2022. The token has been trading in a falling wedge formation ever since. This is a bullish pattern that leads to breakouts in most cases. Indeed, after bouncing up from wedge support in early September 2023 (green arrow), the altcoin price broke above the wedge with a large bullish candle during the week from October 30 to November 5.
Following this, the price consolidated above the wedge. Thus, it formed a higher low. This is the first sign of an uptrend formation. The weekly RSI has jumped into the oversold territory. Additionally, the RSI is biased upwards, supporting the possibility of the uptrend continuing. Therefore, the altcoin price may continue to rise towards the previous long-term support zone at $68. This represents an increase of 25.83% from the current EGLD price.
EGLD weekly chart. Source: TradingViewSOL price forecast: Another 22% possible!
Popular crypto analyst Ali Martinez says Ethereum rival, which has exploded over 600% year-to-date, is on the verge of another bullish breakout. The analyst predicts that Solana will rise approximately 20% from the current level if it maintains its bullish momentum. In this context, Martinez makes the following statement:
A sustained close above $68.20 will trigger a bullish breakout towards $90. But watch out for the $60 support! Any sign of weakness at this level could trigger a profit take that would send SOL to $47.
Source: Ali MartinezMeanwhile, Solana was trading at $75.27 at the time of writing, up 4.6% on a daily basis. The altcoin is up nearly 625% from its 2023 opening price of $9.97.
ETH price prediction: $2,500 is the target for the leading altcoin!
Cryptocurrency analyst Justin Bennett expects better performance from leading altcoin Ethereum (ETH). Bennett says the second-largest crypto asset by market cap looks poised for further rally after breaking out of an ascending triangle formation on the weekly chart. In this regard, the analyst said, “ETH seems to want $ 2,500. “$2,100 is a support that should hold.”
Source: Justin BennettThe analyst also explains what happens next if Ethereum reaches its $2,500 price target. On this subject, Bennett said, “I think we will get a good correction at $2,500. Maybe a sweep first. Let’s see.” says. Meanwhile, Ethereum was trading at $2,356 at the time of writing. While the leading altcoin remained flat on the daily chart, it made a 12% advance on the weekly chart.
The predictions in the article belong to the analysts and are definitely not investment advice. As Kriptokoin.com, we recommend that you do your own research before investing.
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