2 Analysts Announce 5 Altcoin Projects That Can Rally!

cryptocoin.com Pentoshi and Josh Moden, whose analyzes we share, shared 5 altcoin projects that can rally in the coming weeks. In the content, you can find brief characteristics of cryptocurrencies, their price history and the levels that analysts have determined for entry. Don’t forget to do your research! We start with Cosmos (ATOM), the common choice of analysts…

ATOM shows its real strength against BTC

Pentoshi says smart contract platform Cosmos (ATOM) looks set to outperform the crypto market in the next few weeks. As ATOM finds support around 0.0006 BTC ($35.42), it can be expected to rise 100% against Bitcoin to 0.00129 BTC ($76.14). Pentoshi says this about it:

ATOM will be one of the best if not the best performer in the next few weeks. The chart is set for a big uptrend and has all the right components with (technical analysis) + (fundamental analysis) alignment. In my opinion it will be parabolic with SOL/AVAX.

According to CoinMarketCap data, ATOM had confirmed the $33 support at the time of writing and was trading at $39. According to the analyst, while the chart above confirms the long-term outlook, it has all the ground for bullishness with the support it found at the $33 line below.

Pentoshi’s second choice of altcoin WOO Network (WOO)

WOO is next after ATOM. The project is basically a deep liquidity network that connects exchanges, institutions and decentralized finance (DeFi) platforms. WOO is currently trading at $1.23 and is just below its previous all-time high. According to the analyst, factors are ready that could push the altcoin to new ATHs on the horizon. Pentoshi shares his excitement:

WOO analysis: Victory awaits, I have not taken profit even once. An altcoin that I feel comfortable with. I trade with some tokens, some I hold for a long time. WOO good for the long run! I hope it continues to grow at this rate.

Bitcoin technical analysis

Coming to the analysis of Bitcoin (BTC), the top cryptocurrency is showing signs of strength after perfectly retesting a key Fibonacci level around $59,985. Pentoshi says the following for BTC:

BTC did an excellent retest at a shallow (Fibonacci) level with a 10% drop after breaking the ATHs and seems poised for continued price exploration.

Meanwhile, the analyst adds that he is aiming for a bullish move towards the $64,500 and $65,000 range as BTC potentially forms HH and HL levels.

These 3 altcoins are ready for bull season, according to Josh Moden

After Pentoshi, we move on to popular crypto strategist Josh Moden. He tells the analyst that these 3 altcoins are pressing higher and will generate huge profits for traders as alt season approaches.

Moden’s first row selection is ATOM. The project is a cryptocurrency that powers a Blockchain ecosystem designed to scale and work with each other. ATOM was trading at $38.95 at the time of the analyst’s review.

According to Moden, ATOM has reached the demand level and made a nice push towards $41. The analyst believes ATOM continues its uptrend, with the first target at ATH of $44.7 followed by $50 and $60:

We’ve taken advantage of that level of demand, pulled back really nicely, and now we’re already pushed to $40. I think we can continue this run, the continuation of this uptrend will continue as long as the rest of the market goes with it and $44 would be my next target.

The analyst adds:

We could see a drop again to this demand level around $36 and that could be a good buy option or buy zone and then we could see the upside move again and above that maybe a $20 increase for Cosmos. If we can break above that, we can use it as a retest level and look for higher levels like $50 and $60.

Next is Chainlink (LINK)

Next on the list is the oracle network Chainlink (LINK). LINK prices are struggling to find stability after the May 19 crash. Recently, Chainlink announced integration with Terra’s testnet-owned Blockchain protocol to enable local developers to implement reliable data sources throughout its ecosystem. At the time of writing, LINK was trading at $30.99.

Moden suggests that the $27 resistance level has been flipped and turned into support, resulting in a bounce back to the $30 level. However, Moden predicts that LINK will soon return to the $25 level:

On the daily chart there is a demand level around $25 to $26 in this area so if the price drops and I feel it could drop, we broke two very important market structures. Which means we can usually go as high as $32 and then drop back down to $25 and $26, which would be my buying space.

On the other hand, the analyst says that if the market continues its uptrend, LINK will return to $32, then retest $33 and eventually rise to $40.

Finally, let’s take a look at Theta (THETA)

Last on the list is Theta (THETA), a blockchain-powered network designed for video streaming. At the time of recording, THETA was trading at $6.43. THETA recently hit a massive drop to $5.6 where the market saw a lot of buying pressure and pushed the price back to $6.20.

In terms of future action, Moden predicts Theta will pull back the demand level at $5.80 before starting its rally with the initial target $7. Mode says:

I’m aiming for $7 for now. Once we can get over $7, then we can really start to work things out. That’s when we can start pushing up to $9. That will be the next target and after that, we can look at the daily chart, there are some key levels at $13 and $14. So I think they have a great chance.

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