Cryptocurrency analyst Aaryamann Shrivastava predicts a 27 percent rally for LTC. The analyst also expects a short-term rally from TON. Analyst Michael Ebiekutan says that the leading altcoin Ethereum is gathering strength for upward momentum.
LTC price prediction: What is the target in the coming rally?
It is possible to see the price of Litecoin (LTC) breaking out of the descending triangle reversal formation. The descending triangle reversal pattern is a bullish chart formation characterized by a horizontal support line and a descending trend line. When the price moves above the trend line, it indicates a potential trend reversal from bearish to bullish. This also applies to LTC. The altcoin is trading at $81 at the time of writing. Under the conditions we stated, it is possible for LTC to reach the $102 target set by the model. This represents a potential 27% rally for the token. However, it needs to turn resistance at $86 into support first.
If this breach fails, LTC may fail to test the support at $79 and could lose, invalidating the formation and bullish thesis. As a result, the altcoin price is likely to drop to $76 and below.
TON price prediction: Another short rally is possible for the altcoin before the bottom!
Toncoin (TON) price is likely to see some upside if it closes above the $6.04 support level. It has tested this level in the past and often witnessed an increase in price. However, the bears will likely stop this increase at the $6.50 resistance level. This is because by then TON will confirm the top of the market. Additionally, the fact that the MVRV rate will enter the danger zone will also be effective in this. In conclusion. The price of Toncoin will likely drop to $6.0 or $5.4.
However, if TON holders choose to HODL, it is possible that the altcoin price will exceed $6.5. This will invalidate the decline thesis. Therefore, this will enable the price of Toncoin to gain more profit.
ETH price prediction: The leading altcoin is gaining momentum for the rise!
The market has remained somewhat quiet as Ethereum continues to trade around $3,000. Despite the calm market, ETH derivatives volume increased by close to 60% compared to Bitcoin in May, according to QCP. According to QCP, the reason for this increase may be pricing in the volatility in the market regarding the Securities and Exchange Commission (SEC) decision on Van Ecks’ spot ETH ETF application on May 23. Many people expect the SEC to reject spot ETH ETF applications. Therefore, this also explains why the market has moved slightly downwards.
Current price action indicates that ETH will likely continue to move sideways in the coming weeks. However, historical data indicates that the price of the leading altcoin may gain momentum for the uptrend. Considering ETH has remained in the $2,852 to $3,300 range for about a month, a sustained breakout above the top of the range is possible if it sees a slight bull trigger.
Onchain data also shows that most whales accumulated ETH in this range in anticipation of a price rally. A bearish event could briefly break below the bottom of the range, presenting a buying opportunity.
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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