According to crypto analyst Ekta Mourya, MASK is accelerating for a 25% price increase. Analyst Filip L says that with the negative pricing, SOL could rise 80% in just three months. Moreover, according to the analyst, VET investors need to watch this element to guarantee the uptrend of 182% by August. Analyst Kelvin Munene notes that bulls are taking control on AAVE and TRX. Valdrin Tahiri is waiting for a rally for his chosen altcoins.
Among altcoins, MASK gears up for 25% increase!
MASK is in a short-term uptrend that started on December 30, 2023. The altcoin gained popularity in the crypto community after Twitter CEO Elon Musk applied for a US payment license for the social media messaging app.
MASK price remained above the two Exponential Moving Averages (EMAs) of 50 and 200 days as it climbed towards the $5.12 target. The token is likely to face resistance at $4.36, which acted as support throughout January and turned into resistance at the beginning of February. The $4.5 level, which represents the 61.8% Fibonacci Retracement, is another important resistance level. The bullish target for MASK is $5.12, which is the 78.6% Fib Retracement level.
MASK 4-hour price chartThe two EMAs falling below $3.87 and $3.77 could invalidate the bullish thesis for MASK. The Relative Strength Index (RSI) signals the underlying strength in MASK’s uptrend. A 25% increase could push MASK to $5.12. The token needs to turn the support from $5.12 to $4.36 for the rally.
Solana could increase 80% in three months
Altcoin price is taking another step back this week and is currently stuck between a rock and a hard place. The positive news will begin soon as decentralized cryptocurrencies will regain focus with Solana taking the lead. SOL could see a large influx of investors fleeing a few centralized cryptocurrencies like XRP and Ethereum, just to name a few. Although ETH is almost 50% decentralized, it will be the target of the new US regulatory package. Expect a major entry to the SOL that will see its price rise towards $40.
LEFT weekly price chartA break of the support could lead to the complete damage of the 2023 rally. The writing on the wall will be a break under $19. When this happens, warning signals will be issued and it is possible for the altcoin price to drop close to 60% to $9.
VET price in altcoins will kill this year
Vechain price is currently taking a step back, but it could offer a window of opportunity to longer-term investors. This opening comes as VET is currently trading lower, but poised to find support at a crucial level. The big price tag to watch is $0.023. This price contains some very important elements that can only push the price action up.
As long as the green ascending trend line on the weekly chart is well protected, VET will be able to continue its rally. Even if the altcoin price drops below that, both the 55-day and 200-day Simple Moving Average (SMA) are present to provide plenty of support and to propel the price action higher. Once $0.03 and the red descending trendline are broken, expect the uptrend to extend to $0.07 by the end of summer.
VET weekly price chartA significant downside risk arises if the circuit brakes due to the failure of both moving averages. A complete relaxation of the 2023 rally becomes a potential scenario. This means that the price action could drop roughly 30% and at some point it could see $0.01.
Bulls take control at AAVE
Among altcoins, AAVE price dropped to a 7-day weekly low of $77.11 in the past 24 hours as negative control of the market gained strength. Recently, however, the bulls pushed the bear rule under the rug, pushing the price to its intraday high of $80.83. As of this writing, the price of AAVE is up 2.01% to $80.81. Market cap was up 1.96% to $1,138,300,457 and 24-hour trading volume was up 5.70% to $67,398,826. This increase marks a strong exit from the bulls, which has shaken the bearish dominance and pushed the price from the 7-day low of $77.11 to $80.81.
AAVE 24-hour price chart / Source: CoinMarketCapThe MACD blue line has recently crossed above the signal line with a value of -1.035359 and is heading north. This move indicates that the bearish momentum in the market is starting to wane and prices may rise. It may also indicate that the trend has changed and that investors should look for future buying opportunities.
Positive trend continues for TRX among altcoins
The uptrend in the TRON (TRX) market regained control after finding support near the intraday low of $0.06853 in the previous 24 hours. As a result of this positive pressure, the price rallied to the session high of $0.06978. The bulls held and even pushed the price higher, closing the price with a 1.30% gain at $0.06945.
During the rise, market cap and 24-hour trading volume increased 0.86% and 12.09%, respectively, to $6,353,223,872 and $221,722,321. This growth in market cap and 24-hour trading volume points to a bullish market as buyers try to buy TRXs. As a result, demand for TRX strengthened and the bulls successfully defended the intraday high of $0.06978. This indicates that the positive trend will continue.
TRX 24-hour price chart / Source: CoinMarketCapBollinger Bands are rising on the 4-hour price chart, with the upper band 0.07025058 and the lower band 0.06780693 showing that TRX’s uptrend is gaining momentum.
Polkadot (DOT) is trying to find support
The altcoin price has dropped below a descending resistance line since August 2022. The downside move is as low as $4.22 on Dec. 29. The price started an uptrend soon after and broke out of the descending resistance line on January 13. Then, it also reclaimed the horizontal area of $6.20.
The DOT price hit its annual high of $7.90 on Feb. 19 before falling. After the drop, there was a bearish cross on the daily RSI. The price is currently trading just above the $6.20 horizontal support area. A bounce or break in price in this area can determine the direction of the future trend. A breakdown could result in a drop from the 0.618 Fib retracement support level (black) at $5.65, while a rebound could prompt another attempt to climb above $7.60.
DOT daily chart / Source: TradingViewKusama (KSM) price rejected for altcoins
As you follow on Kriptokoin.com, the altcoin price has increased significantly since the beginning of the year. The increase led to a year high of $49.49 on February 19. However, the price failed to rise above the $46.50 resistance area, instead forming a long upper wick (red icon) and falling. Before the drop, there was a bearish cross on the daily RSI (green line).
Currently, Kusama price is trading just above the 0.5 Fib retracement level at $35.45. If it bounces off, the price may make another attempt to reach the $46.50 resistance area. However, a break below $35.45 could trigger a drop to the 0.618 Fib retracement level from the $32.18 high.
KSM daily chart / Source: TradingView
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