In the ever-evolving cryptocurrency world, analysts are brimming with optimism as they predict significant price increases for several mid-cap altcoins. Let’s examine the bullish sentiments on Injective (INJ), Chainlink (LINK), and Compound (COMP) shared by leading crypto analysts.
Altcoin Sherpa hopeful for INJ
Altcoin Sherpa, a so-called crypto analyst known for his accurate predictions, has set his sights on Injective (INJ), a decentralized derivatives exchange. According to Altcoin Sherpa, INJ is forming a bullish formation and believes this is a significant opportunity to buy the dips. “In the coming weeks, INJ may present a unique opportunity for investors to accumulate,” Altcoin Sherpa shared with his 196,400 followers on X, a social media platform known for crypto discussions. Sherpa’s analysis shows that INJ could retest the resistance level at $9.88 and possibly even reach $14. At the time of writing, INJ is trading at $7.50, up 3.3% in the last 24 hours.
Altcoin Sherpa does not stop at INJ. He also makes positive predictions for Bitcoin (BTC) and Ethereum (ETH), citing historical patterns. According to him, BTC and ETH tend to perform exceptionally well in the 4th or 1st quarter of the following year due to the influence of seasonal factors. At the time of writing, Bitcoin is trading at $26,904, while Ethereum is priced at $1,666. Regarding Solana (SOL), Altcoin Sherpa is cautiously optimistic. While SOL has retested a key resistance level, its future trajectory remains uncertain. Altcoin Sherpa’s analysis shows that SOL could reach the $21 range in a bullish scenario, but could revisit the low $17 range in a bearish scenario. SOL is currently trading at $20.24 and has gained 2.7 percent in the last 24 hours.
130 percent increase for LINK
Chainlink (LINK) had a stellar performance in September, rising from $5.8 to $7.9. The bullish momentum for LINK shows no signs of slowing down, with a crypto analyst known as Babenski predicting a significant 130% price increase. Babenski’s analysis shared on TradingView points to an accumulation range around the $5.8 low recorded in mid-September. This accumulation formed the basis of the recent rally, pushing LINK close to $8. The analyst expects a pullback targeting $18 before LINK rises further. Although no specific time frame is mentioned, October-November looks promising for LINK’s rise.
Notably, LINK’s impressive performance was partially driven by big whales who purchased more than 7.5 million LINK tokens worth approximately $53 million in just a few weeks. Despite this, LINK’s bullish outlook remains strong and whales hold more than 206 million coins. As of now, LINK has gained 15% in value in the last 7 days, making it the best performing cryptocurrency among the top 20 cryptocurrencies by market cap.
Altcoin COMP is ready for a 50 percent rise
Compound (COMP) has gained a staggering 22% in the last 7 days, cementing its place among the top gainers in the crypto market. MyCryptoParadise, an analyst at TradingView, believes COMP could rise another 50% from its current levels. MyCryptoParadise’s analysis highlights the formation of a double bottom, indicating significant potential for COMP. This analyst draws parallels with a similar breakout in June that resulted in a 269% gain. With this historical move implemented, COMP could experience a 65-80% increase, potentially reaching $66.
However, there are challenges ahead, including a descending trend line that COMP must overcome for the bullish scenario to come true. Additionally, the pullback to $48 and the $60.65 and $66.00 resistance levels are also important factors to watch. Currently, COMP is the third highest-earning coin of the last 24 hours with a price of over $47 and a market value of $375 million.
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