Analyst Abiodun Oladokun says that TIA’s rally may be permanent. The analyst also explains a bullish scenario for ARB. Finally, the analyst predicts a continuation of the rise for XRP. We have compiled the analyst’s predictions for these 3 altcoins for our readers.
TIA price prediction: Altcoin price rally could be permanent!
An evaluation of Celestia (TIA)’s price action on a daily chart confirms the possibility of an extended price rally. First, the readings from the Parabolic Stop and Reverse (SAR) indicator show a strong bullish trend against the altcoin. At the time of writing, the indicator’s dots are located below the current altcoin price. This indicator tracks the trends of an asset and identifies potential price reversal points. When the dots are below the price, the market is considered to be in an uptrend. It indicates that the altcoin’s price is rising and may continue. Also, TIA’s Chaikin Money Flow (CMF) is in an uptrend and is currently above the zero line at 0.07.
This indicator measures the flow of money into and out of an asset’s market. When its value is positive, the market is seeing an inflow of liquidity, which is a sign of a sustained price rally. If this trend continues, TIA’s price could rise to 8.09.
ARB price forecast: Is buying pressure strong enough?
The increase in user demand on Arbitrum over the past week has led to a rally in ARB’s price. The altcoin, which is trading at $0.77 at the time of writing, has gained over 5% in the past week. However, the current demand for the altcoin may not be enough to sustain the price increase. This is based on ARB’s Relative Strength Index (RSI) values, which are currently at 51.54 and in a downtrend.
The RSI of an asset measures overbought and oversold market conditions. The RSI value ranges from 0 to 100. Values above 70 indicate that the asset is overbought and likely to decline, while values below 30 indicate that the asset is oversold and likely to see a price recovery. ARB’s RSI of 51.54 indicates that it is neither overbought nor oversold. There is a balance between buying and selling pressures, with no significant momentum in either direction. Therefore, ARB may trade sideways in the short term. If the buying momentum picks up and the token witnesses an uptrend, it could rise to $0.99.
XRP price prediction: Bulls may defend price in the short term
Although the buying pressure that has been driving XRP’s price rally is decreasing, the positive sentiment towards the altcoin remains high. One notable indicator of this is the token’s Elder-Ray Index, which is returning green histogram bars at press time. XRP’s Elder-Ray Index is 0.08. This indicator measures the relationship between the strength of buyers and sellers in the market. When its value is positive, bullish power is dominant in the market. If the bulls remain in control of the market, demand could increase, supporting the altcoin’s price rally. In such a case, the altcoin will change hands at $0.66, its highest level in recent months.
The opinions and estimates in the article belong to the analyst and are definitely not investment advice. Cryptocoin.com We strongly recommend that you do your own research before investing.
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