Altcoins with the Best Charts
The crypto money market has not been able to show the expected performance for a while due to macroeconomic troubles. However, analysts claim that some altcoins have bullish-looking price action. One of these analysts is Kaleo. The popular analyst with more than 535,000 followers stated that XRP and Tron currently have the most promising charts. Looking at the Bitcoin chart against Tron, Kaleo said that after successfully breaking the diagonally falling resistance line, the pair is ready for a new breakout. Another altcoin pointed out by the analyst is XRP. According to the analyst, the altcoins with the most bullish-looking price action in the markets right now are Tron and XRP.
Evaluating the Bitcoin chart, the analyst says that the leading cryptocurrency will touch $ 19,000 before it rises above $ 20 thousand again, and with this touch, the dynamics in the markets will change. The analyst thinks the market will remain unresponsive ahead of the US September CPI data to be released on Thursday. However, if the CPI data, which is expected to come at 8.1%, exceeds or falls short of expectations, it may have significant upward or downward activity in the markets. Kaleo points out that in November of 2021, the CPI data reached the record level of the last 30 years, which coincides with the period when Bitcoin reached its all-time high and the downtrend, which lasted for about a year, began.
SHIB May Rise 40%
Another altcoin that is expected to rise is Shiba Inu. According to analysts, the steady decline in the Shiba Inu price for a while caused a falling parallel channel pattern to emerge. With this situation, prices tested the top and bottom of the pattern many times. Although this pattern causes a downtrend, a strong rally can be triggered if the price crosses the downtrend line that acts as a resistance. Analysts predict that if Shiba breaks through the falling trend line, it can rise close to 40%. Shiba has resistance levels at 0.000012 and 0.000014, while support levels are at 0.00001 and $0.00009. According to analysts, Shiba investors should carefully monitor these levels for both downward and upward price movements.
XRP Price Analysis
Now let’s take a look at the support and resistance levels of XRP. If XRP continues its downward trend, the first support level it will encounter is at 45 cents and the second support level is at 38 cents. As popular analyst Kaleo said, if there is a rally, the first resistance level we will follow in XRP is at 53 cents and the other resistance level is at 60 cents.
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