The popular crypto analyst, known by the pseudonym Cheds, participated in an interview. Ethereum and shared forecasts for several popular altcoins.
Cheds drew attention to the $1420-1430 levels, where Ethereum will surpass both the previous support level and its 200-day moving average. ETH was trading at $1252 at the time of writing.
Noting the price action of Ripple (XRP), Cheds stated that the altcoin is at a critical price point.
You need to follow XRP. It seems to take place in some kind of startup. If the bulls fail to bounce at $0.3416, the outcome will be bad. If it bounces, the price could move up to $0.38-0.39. However, if it cannot rise to these levels, you should be ready for lower levels.
NEWS CONTINUES BELOW
Dogecoin Doesn’t Look So Good
Cheds also underlined that the leading meme coin Dogecoin is not doing well either.
Dogecoin is losing the 200 MA, meaning it is losing support here. I think it could decline to $0.05 and $0.057-$0.058 levels. I expect it to trade in a low range.
NEWS CONTINUES BELOW
Take your time for Ethereum Rival Altcoin
Cheds completed the analysis with Cardano, Solana, and Polygon. The analyst stated that there is no plano for Cardano, but shorting would be interesting if ADA reaches $0.30. ADA is trading at $0.266.
As we reported as Koinfinans.com, Solana, who has had tough days, can act on the assumption that “the biggest jumps come from downtrends”, according to the analyst. Cheds thinks $11-11.5 will be significant for the asset.
Cheds says its blockchain scaling solution Polygon (MATIC) needs to retain support for “creating graphs and digits.” An important holding level for the asset is $0.72 and the next potential level to watch out for is around $1.06.