According to Analyst Rakesh Upadhyay, BTC and altcoins like XRP, ADA, DOGE may enter a short consolidation phase before retesting their breakout levels. Also, according to the analyst, this could be a sign that the current price action could be a buying opportunity. As Kriptokoin.com, we examine the analyst’s forecasts for prices.
What does the analyst think about BTC, XRP and ADA?
Analyst Rakesh Upadhyay recently shared his price predictions for Bitcoin, ADA, DOGE and 5 altcoins. Accordingly, the bulls of Bitcoin, whose 200-day SMA was at $ 48,288, could not increase the prices above this. Analyst Upadhyay says the bears will now try to push the price towards immediate support at $45,400. If BTC price bounces back from this support, the bulls will again try to push the BTC/USDT pair above the 200-day SMA. If successful, the pair can start its journey at $52,000. The rising 20-day exponential moving average (EMA) ($43,531) and the relative strength index (RSI) near the overbought zone suggest the bulls are in control, according to Upadhyay. However, the analyst adds that this positive view will be invalidated if the price drops and falls below the 20-day EMA. If this happens, the pair could extend its stay in the ascending channel for a few more days.
In the second part of his analysis, the analyst, who examines projects such as DOGE, SOL or AVAX, states that the bulls of Ripple (XRP), which he examined after BTC, are trying to keep the price above $ 0.86. According to Upadhyay, if they are successful, the XRP/USDT pair could rise again to $0.91. Also, a break and close above this level could open the doors for a possible rally to $1. Conversely, if the price stays below $0.86, the bears will attempt to push the pair below the moving averages. On the other hand, according to Upadhyay, who stated that Cardano (ADA) is facing resistance at $1.26, if buyers can keep the price above $1.26, ADA/USDT may rally to $1.60. Alternatively, if the price drops below $1.15 from the current level, the bears will attempt to push the pair to the 20-day EMA. According to Upadhyay, who presents his forecast for Terra (LUNA), if the bulls hold the price above $105, the buying momentum could increase and the LUNA/USDT pair could rally to $125. However, if the price breaks if the RSI forms a negative divergence, the pair could drop to $96. Altcoins to watch include DOGE
, according to
Upadhyay
Solana (SOL) rallied above the overhead resistance at $122, showing strong buying by the bulls. According to analyst Upadhyay, if buyers hold the price above $122, the SOL/USDT pair could start a new uptrend that could reach the 200-day SMA ($150). This level will likely act as a stiff resistance but if the bulls surpass it, the rally could reach $180. Contrary to this assumption, if the price drops below $106 from the current level, a break above $122 might suggest a bull trap. Speaking of AVAX alongside the SOL, the AVAX/USDT pair could gain momentum and rally to $120 if the price of the bulls Avalanche (AVAX) buyers pushes above the $98 to $100 resistance zone. The analyst then shares his DOT and DOGE analysis.
Polkadot (DOT), although it has faced a tough resistance at $23 for the last three days, it is interpreted positively that the bulls have not left the ground to the bears. If the bulls can sustain the price above $23, the DOT/USDT pair could gain momentum and rise to the 200-day SMA ($29). However, if the price dips below the 20-day EMA from the current level, it could signal that the bullish momentum may have weakened. Finally, according to analyst Rakesh Upadhyay, Dogecoin (DOGE) charts show that bears are selling at higher levels. If the price rises from the current level and rises above $0.15, the DOGE/USDT pair could rally towards the overhead resistance at $0.17, where the bears could once again form a strong defense. However, if the price dips below the moving averages, the pair could spend some more time in the $0.17 to $0.10 range.
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