All on Binance! These 4 Altcoins Could See a Strong Leap!

Four altcoins traded on Binance, the largest cryptocurrency exchange, have been on the agenda of analysts recently. Four analysts analyzed four altcoins and concluded that they are expecting a rise. Here are the details…

The first altcoin on the analysts’ list: Cardano (ADA)

The first altcoin on the list is Cardano. As the overall market struggles to find momentum for the next bullish leg, a prominent crypto expert identifies an important catalyst that could trigger ADA’s price reversal. According to Dan Gambardello, founder of Crypto Capital Venture, Cardano’s ADA could experience a massive recovery. Gambardello bases his prediction on a leading indicator: DeFi entries into the Cardano ecosystem.

In a tweet on April 5, Dan Gambardello stated that the increase in the total value (TVL) locked in Cardano-based DeFi applications will be “the most obvious leading indicator of the upcoming ADA price increase.” According to data from DefiLlama, the TVL of the Cardano network currently stands at $139.81 million. When staking is also taken into account, this value increases even more and exceeds 150 million dollars.

Interest in Cardano DeFi has grown since the launch of the Djed stablecoin in late January. ADA is currently changing hands at $0.3818. After receiving the Valentine upgrade, which made significant improvements in cross-chain functionality for decentralized finance (DeFi) applications built on the Cardano network, the network is now gearing up to roll out a new feature that will allow users to access Ethereum dApps directly from their ADA wallet.

After the DOGE explosion, is SHIB next?

Another coin that attracted attention was the Shiba Inu (SHIB). cryptocoin.com As we have also reported, the price of Dogecoin skyrocketed due to the Twitter logo being changed to the Dogecoin logo. This interest helped the price of the meme coin increase by more than 30 percent within minutes. Then the eyes turned to SHIB and it is a question of whether this meme coin can also benefit from the DOGE boom. According to analyst Prasanna, due to the banking crisis in the United States, investors prefer safe investments such as Bitcoin or Ethereum.

Therefore, the Shiba Inu price, unlike the Dogecoin price, has not risen much in recent weeks. While the price of Shiba Inu coin rose sharply in January, the price action has been flat in recent weeks. The excitement surrounding Dogecoin after the Twitter logo was an exception, but it did not benefit the Shiba Inu. The action only benefited Dogecoin and resulted in a rapid rally. However, the analyst thinks that an “unexpected event” could trigger a burst in SHIB price.

Arbitrum price consolidates: What’s next?

On the other hand, analyst Akash Girimath cited his expectations for Arbitrum (ARB) price. According to the analyst, Arbitrum price is showing a tight consolidation that could result in a quick recovery rally. Arbitrum price formed three low highs and two low lows between April 4 and 9. Combining these swing points using trendlines reveals a falling wedge pattern, according to the analyst. This technical pattern predicts a 7% rise to $1.27, which is achieved by adding the distance between the initial swing high and low to the breakout point at $1.18.

While this breakout makes sense in theory, Arbitrum price must clear the $1.21 barrier for a quick upward move. Also, a successful move could trigger Arbitrum price to retest the $1.32 level, which would mean a 12 percent rise from the current position.

While the outlook described above for the Arbitrum price makes sense, investors should be very careful with the $1.21 barrier. On the other hand, a four-hour candlestick closing below the $1.12 support will create a lower low and invalidate the bullish argument for Arbitrum price. In such a case, the ARB may attempt a second bottom around April 3, bottoming at $1.09.

The last altcoin on the list: What’s next for Enjin?

Finally, analysts focus on Enjin Coin (ENJ). According to experts, ENJ has broken the long-term descending resistance line and created a higher low. The price is expected to continue to rise in the coming period. Enjin Coin (ENJ) price has dipped below the descending resistance line since reaching its all-time high of $4.8 in November 2021. Therefore, ENJ price is likely to test the $0.56 resistance level once again. Exceeding this level will confirm that the long-term trend is up, according to experts. Later, the price could quickly rally towards the strong resistance at $0.75.

ENJ price has been trading inside an ascending triangle since hitting as low as $0.33 on March 10. This is a bullish pattern that leads to a breakout in most cases. Indeed, ENJ price broke out of the pattern with a bullish engulfing candle and high trading volume. This move marks the end of the short-term correction that started at $0.56 and the continuation of the uptrend that has been going on since the beginning of the year. As a result, the closest target is $0.56 and above at $0.75. However, this view will be invalidated if the weekly candle drops below the $0.39 support.

Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!