Analysts Expect a Drop for These 3 Altcoins: Levels Have Been Determined!

Crypto analyst David predicts that meme coin FLOKI will see a rapid decline. Analyst Valdrin Tahiri expects a correction for ICP, which exploded last week. Popular analyst Ali Martinez shares a bearish scenario for a leading altcoin.

FLOKI price prediction: Is there a rapid decline in destiny?

FLOKI price has experienced a rapid increase since it broke above the long-term resistance line and confirmed as support on October 12 (green arrow). With this move, its price climbed above the $0.00003 resistance zone. Thus, it rose to the next resistance at $0.000039. This is the last resistance zone before the price reaches the all-time high of $0.000054. After several days of consolidation, the altcoin price seemed to break above the $0.000039 resistance on December 5. However, the price fell below this zone on December 11. So, this breakout turned out to be an aberration (red ellipse).

FLOKI confirmed the $0.000039 zone as resistance on December 17 with an engulfing candle (red arrow) signaling the start of a downtrend. Meanwhile, the daily RSI has moved below 50. It is also sloping downwards, supporting the potential for further declines. Therefore, the altcoin price may continue to decline towards the nearest support at $0.00003. A break below this level would likely lead to a rapid decline towards the next support at $0.000025.

The most likely scenario sees FLOKI price falling to the $0.00003 support zone. Additionally, it could potentially drop to $0.000025. This bearish view will be invalidated if the altcoin price rises above the $0.000039 resistance on the daily time frame.

ICP price prediction: There is a correction in the short term for the altcoin

For Internet Computer (ICP), the short-term six-hour chart has a mixed outlook. Price action shows ICP breaking out of an ascending parallel channel. This is a sign that the trend is upward and the upward movement is impulsive. However, the ICP also formed a double top (red symbols), which is considered a bearish pattern. The double top has combined with a bearish cross on the six-hour RSI. If the decline continues, the 0.382 Fib retracement support level will be at $8.47, approximately 10% below the current price. However, there is no horizontal support at this level. Therefore, it is possible for the altcoin price to drop by 20%. Thus, ICP will reach the 0.5 Fib retracement support at $7.40.

Despite this bearish ICP price prediction, a strong bounce from the 0.382 support could trigger a rise to a yearly high of $11.90. This means a 40% increase for the altcoin.

XRP price prediction: $0.55 on target!

Ali Martinez, a popular cryptocurrency analyst, shared that the XRP price is at risk of falling in the next few days. This prediction comes after the altcoin price was recently rejected from the middle line in an ascending parallel channel where it was trading on its 3-day chart. Martinez predicts that the XRP price will drop to $0.55. The analyst’s bearish prediction seems to have taken effect in the last 24 hours. Latest data shows that the token price has fallen by around 3% over the past trading day.