Crypto analyst Valdrin Tahiri expects an 80 percent bullish move for PEPE. The analyst also deduces the possible future path of the leading altcoin price. The analyst nicknamed Pentoshi also says that he will make a 35 percent move for Ethereum in the short term. Crypto analyst Aaryamann Shrivastava predicts a 22 percent upside for MATIC.
PEPE price prediction: What’s on the cards for the altcoin?
Similar to the daily time frame, the six-hour time frame also shows signs of a potential bottom. This is due to the number of waves and price movement. Technical analysts use Elliott Wave theory to determine the direction of a trend by examining recurring long-term price patterns and investor psychology. The most likely count shows PEPE completing a five-wave uptrend (black). Also, it signals that it is now making corrections. The correction lies within a common descending parallel channel.
Although this is unconfirmed, the correction may have ended on January 8 as the altcoin price bounced at the support trend line of the channel and the 0.618 Fib retracement support level (green). A breakout of the descending parallel channel will confirm the bullish outlook. If both uptrends are of the same length, it is possible for PEPE price to rise to the next resistance level at $0.0000022. This would mean an 80% move for PEPE.
Despite this bullish PEPE price prediction, a close below the support trend line of the channel could trigger a 33% decline to the nearest support at $0.0000008.
ETH price prediction: Will 2020 fractal lead to parabolic rise?
An interesting result emerges when we compare the Ethereum price action in the previous bull cycle with the current cycle. In 2020, the leading altcoin broke out of a horizontal resistance area that at times provided support and resistance for over 1,000 days. This looks very similar to the current breakout. Also, RSI data is almost the same. In 2020, the RSI moved into the overbought zone (green icon) and then fell lower. The second move into the overbought zone (green vertical trend line) provided a signal that catalyzed a 1,000% parabolic upward move for ETH, reaching a new all-time high. A 1,000% increase would push the ETH price to $27,000 this cycle. In the short term, more reasonable targets are 40% and 90% above the current price. These are the $3,500 and $5,000 levels.
Despite this bullish ETH price prediction, a close below $2,200 will invalidate this bullish prediction. Afterwards, the altcoin price is likely to drop by 40% to $1,600.
The leading altcoin is preparing for an increase of more than 35%!
A closely followed crypto analyst with the pseudonym Pentoshi says Ethereum is poised for a major rally after successfully completing a long consolidation phase. The analyst notes that Ethereum is heading towards the $3,500 range, which is the upper end of a range in which it is trading. In this context, Pentoshi makes the following statement:
ETH: It went to the middle range of the new range we are in. Year-long consolidation towards the middle. We expect a higher range late in the first quarter, early in the second quarter.
MATIC price forecast: A 22% rally is possible!
MATIC price, at the time of writing, continues an uptrend that started in mid-October. The altcoin price gained nearly 80% in the first part of the rally. MATIC has been on a slow but consistent rise ever since. Since the token did not break down from the uptrend line, a retracement is possible that could push the price above the $0.92 resistance line. If this turns into support, it will accelerate the rally. Thus, MATIC will move beyond $1.00, up 22%.
However, if the digital asset finds resistance from broader market signals and breaks from the uptrend line, it will find support at the $0.80 mark. If it loses this support, the bullish thesis will be invalidated. This would cause MATIC to drop to $0.72.
The opinions and predictions in the article belong to the analysts and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing.
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