Crypto analyst David expects a 30 percent move from HOOK. Analyst Valdrin Tahiri predicts a similar rise for an altcoin in the Turks’ basket. Crypto analyst Elena R. predicts ORDI will move towards $70.
HOOK price prediction: 30% gain on the horizon for the altcoin!
Hooked Protocol (HOOK) price has been on the rise since reaching its all-time low of $0.63 in mid-August 2023. Upside movement was slow as the price faced resistance in the key horizontal zone at $1.05. However, during the week of December 4-10, the altcoin price successfully broke through this resistance zone (green arrow). Moreover, it has confirmed as support in the last two weeks. This is a sign that the bulls are taking control. Moreover, it shows that the upward momentum will accelerate in the coming period.
Meanwhile, the weekly RSI (Relative Strength Index) has risen just above the 50 level. Additionally, it supports this potential by sloping upwards. Therefore, it is possible for HOOK price to rise to the next key resistance zone at $1.53. This target represents a 29.65% increase from the current altcoin price. Additionally, a break above $1.53 will confirm that the long-term trend is upward.
The most likely scenario suggests that HOOK price will continue to rise towards the next significant resistance zone at $1.53. This view will be invalidated if the price breaks below the important support at $1.05 on the daily chart.
AVAX price prediction: Is $50 next?
Technical analysis of the daily time frame gives a bullish outlook. 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 has AVAX in the fifth and final wave of an upward move that began in September. The fifth wave has been extended for the altcoin. It also has more than 0.618 times the combined length of the first and third waves.
If AVAX continues to rise, the next target will be $59. In this case, the fifth wave will be the same length as the sum of the first and third waves. This will mean an increase of 28%. If the altcoin price maintains its increase rate, it is possible to reach the target in December. Meanwhile, the daily RSI supports this possibility. Because the indicator broke out of the downtrend line (green) and is rising.
Despite this bullish AVAX price prediction, a daily close below $44 would mean the top is within. In such a case, it is possible that the AVAX price will decline to the nearest support level of $22. This will mean a decrease of approximately 50% for the altcoin.
ORDI price prediction: How will the altcoin enter 2024?
cryptokoin.comAs you follow from , BRC-20 tokens have gained significant momentum recently. Because major tokens have exhibited major price movements throughout this month. Additionally, ORDI price has increased by over 18% in the past day. This shows that the trend in the market has reversed. The rally was short-lived as the altcoin price was rejected at $67,723. Thus, the price faced a pullback within the range. The price has been trending sideways since then. This shows that there is weak buying and selling pressure for this token in the market.
The Relative Strength Index (RSI) shows a sharp decline on the chart, highlighting the reduced price movement in the market. Additionally, the averages indicate a high probability of bullish convergence. This suggests that the altcoin price will experience a trend reversal in the coming period. If the bulls sustain the price above the $55,536 support level, ORDI price will gain momentum. Therefore, ORDI will be prepared to test the $57.723 resistance level next week. Moreover, if the market maintains the price at this level, it will continue to rise. Thus, it will test the upper resistance level of $70 by the end of the month.
Conversely, if the bears gain power over the market, the bulls will lose momentum. In this case, the altcoin price will decline to test the $44,575 support level. Moreover, if the bears continue to dominate the market, further declines are possible for ORDI. In this case, the lower support level of $ 33,689 will come to the fore next week.
The opinions and predictions in the article belong to the analysts and are definitely not investment advice. We strongly recommend that you do your own research before investing.
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