Crypto analyst David says that the leading altcoin price has the potential to rise to the $2,950 level. Analyst Aaryamann Shrivastava estimates that SHIB still has a 41 percent chance of rally. The analyst nicknamed Bluntz predicts that $4.5 is in the cards for OP.
ETH price prediction: The leading altcoin price is ready to rise!
Ethereum (ETH) price has been trading in the range of $2,100 to $2,450 since December 5, 2023. This shows that there is a balance between bulls and bears. On January 10, 2024, ETH price broke above the range with a large bullish candle. This indicates that the uncertainty has been resolved in favor of the bulls and the altcoin price continues its previous uptrend.
Meanwhile, the daily RSI (Relative Strength Index) has broken above the descending resistance line and is above 50. Therefore, this supports the possibility of further gains for Ethereum. Therefore, the altcoin price is likely to continue rising towards the nearest resistance at $2,950. This means an increase of 16.21% from the current price.
Technically, it shows that ETH price is ready to rise towards the next target of $2,950. This bullish view will be invalidated if the price falls below the range resistance at $2,450.
SHIB price prediction: There is a 41% chance of a rally for the Shiba Inu!
The Shiba Inu price has dropped just over 13% in the last few days. However, the altcoin price is still trading above the support line at 0.0000094. This price level also marks the stop loss of the double bottom formation observed for nine months. This macro bullish reversal pattern indicates a potential 34% chance of a rally.
The breakout level for Shiba Inu is set at $0.0000102 and the target for the height of the pattern is marked at $0.0000138. This represents an increase of approximately 35% above the breakout level. This target is approximately 41% above the current trading price of 0.0000097. If the breakout level is successfully tested as a support floor, the bullish formation will be successful and the likelihood of a long-term rally will increase.
However, if SHIB falls to the stop loss level, the double bottom pattern will fail. This will send the altcoin price below $0.0000090. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are currently giving mixed signals. This means that the Shiba Inu price could remain above the stop loss price point for a while, and if investors’ funds start flowing into altcoins once again, SHIB could have a chance for a recovery rally.
OP price prediction: $4.5 is on the cards for the altcoin!
The analyst pseudonymous Bluntz says Optimism (OP) is currently consolidating just below its all-time high. According to Bluntz, Optimism “will hit an all-time high this weekend.” Based on its chart, it looks like Bluntz could rally above $4.5 after breaking out of the current range that OP is in. This represents an increase of approximately 20% from the current level of the altcoin price at $3.8.
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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