Analysts announced that they expect bullishness for four altcoin projects next week. Here are analysts Akash Girimath, Lockridge Okoth and Filip L.’s expectations for some coins…
Dogecoin forecast: Will altcoin price bounce?
Dogecoin price seems to be approaching a stable barrier. The lack of bearish momentum mixed with an increase in buying pressure at a critical moment could be a sign that a reversal in DOGE may be on the way, according to analyst Akash Girimath. As Cryptokoin.com reported, Dogecoin price lost 26 percent after failing to break the $0.0916 barrier. It formed a local bottom near the $0.0689 support level. With the push-over buyers kicking in, the recovery rally began, pushing DOGE up 7 percent so far.
As Dogecoin price is trading at $0.0738, traders can expect this trend to continue over the weekend and into next week. The short-term target is $0.0784, which is roughly 7 percent off the current position. However, in a bullish high, DOGE could climb as high as $0.0916. If successful, this Dogecoin price action will mean 25 percent gain for DOGE holders. On the other hand, if the market outlook worsens, the Dogecoin price could drop along with Bitcoin. This could cause DOGE to see $0.0625, the 8th March low.
Uniswap price, “going according to plan”
Analyst Filip L. talked about Uniswap’s UNI token. According to the analyst, the Uniswap (UNI) price is somewhat outlier in terms of its patterns against its competitors. Because, according to the analyst, UNI shows a higher clear path. This prepares the Uniswap price for upside potential. Not only is the price action chart showing a significant bullish triangle, but the Relative Strength Index (RSI) also confirms this pattern. After a test on the upside near $5.41, both price action and RSI cooled off without much pullback.
UNI will find support in the ascending triangle where the bulls are ready to flock again for a long position. The next test could be the right test to trigger an upside breakout. Once the breakout is triggered, a solid candle to $5.70 will provide another 5 percent gain for traders to book against the 55-day Simple Moving Average (SMA) as the target.
30 percent bullish expectation for VeChain
VeChain (VET) price has been extremely volatile since the beginning of the year and has recorded major uptrends at times. The instability came as the crypto industry navigated a bear market and macroeconomic data in the US. According to analyst Okoth, VeChain (VET) price has recorded a series of lower lows and lower highs since February 20, resulting in the formation of a falling wedge formation. A descending wedge is formed when price bounces between two downward sloping, close trend lines, signaling the end of a downtrend and the start of an uptrend.
In VET’s case, if the bulls defend the $0.0188 support, VeChain price will have a chance to break through the upper trendline, thus confirming a reversal of the uptrend. However, new buy orders can be entered around the 200, 50 and 100-day Exponential Moving Averages (EMA) at $0.021, $0.022 and $0.023, respectively. However, confirmation of the uptrend can wait until VET rises above the falling wedge pattern. The most likely target is the $0.025 level, which would represent a 30 percent rise from the current level. According to the analyst, this is the level at which sellers are most congested.
Any chance of rally left for popular altcoin PEPE?
Finally, PEPE price is bullish on the two-hour chart, predicting a quick rally for the altcoin. PEPE price has made three lower lows since May 17, while the Relative Strength Index (RSI) and Awesome Oscillator (AO) have produced higher lows, according to analyst Akash Girimath. This mismatch is called bullish divergence. Usually, this formation resolves to push the underlying asset higher. In this case, the technical formation could catalyze a 24 percent rally for the PEPE price. However, for this rally to be successful, the meme coin must break the $0.00000164 barrier.
Successfully breaking the above-mentioned resistance level and turning it into a support base could mean that PEPE price will retest $0.00000195. Regardless of the optimism seen in PEPE price action, investors should first be wary of the bearish market outlook. If bitcoin price triggers selling, altcoins including PEPE could follow suit. In such a case, if PEPE price bottoms below $0.00000147, it will invalidate the bullish argument. Such a development could see the meme coin drop 11 percent, tagging the support base of $0.00000131.
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