Crypto analyst David expects a strong run from EGLD. Popular analyst Ali Martinez predicts FTM will make a 35 percent move. The analyst nicknamed Altcoin Sherpa says that two Ethereum-based altcoins are ready to run.
EGLD price prediction: It is possible for the altcoin price to increase by 100%
MultiversX (EGLD) price broke out above the long-term wedge pattern with a large bullish candle in the week from October 30th to November 5th. This shows that the bulls are taking control. Indeed, after consolidating above the channel for 4 weeks, EGLD price moved higher during the week of December 4-10, reaching the horizontal resistance zone at $70. This is the last horizontal resistance before the long-term trend switches to an uptrend.
Although the price was rejected from the resistance zone last week (red arrow), it did not pull back significantly. Additionally, it is currently forming another bullish candle. This shows that the bulls are still buying on small dips and awaiting higher highs. The weekly RSI (Relative Strength Index) is supporting further moves north as it approaches the overbought zone. However, the RSI did not form any bearish divergence. If a break occurs, it is possible for the altcoin price to rally to the next significant resistance zone at $130, formed by the previous long-term support zone. This means a 105.32% increase for EGLD.
The most likely scenario shows EGLD price rising above the $70 resistance in the near future. The first target after the breakout is $87. However, the altcoin price also has the potential to reach $130. This bullish view will be invalidated if EGLD price breaks below the $55 support on the daily chart.
FTM price prediction: Get ready for a strong rally!
Cryptocurrency analyst Ali Martinez says that based on price action, Fantom (FTM) managing to overcome and stay above a key resistance level “indicates a significant bullish reversal” for the altcoin. According to the analyst, FTM has the potential to rise to around $0.65, an increase of approximately 35% from the current level. In this context, the analyst makes the following statement:
As long as FTM remains $0.47 above this critical level, get ready for a strong rally!
Meanwhile, according to data from blockchain analysis platform IntoTheBlock, 99.21% of investors and traders who bought FTM between $0.399 and $0.542 are in profit. On the other hand, only 0.76% is at a loss. Meanwhile, cryptokoin.comAs you follow from , Fantom has increased by over 60% in the last 30 days. FTM was trading at $0.4927 at the time of writing.
According to the master analyst, ARB and OP are ready to run!
According to Altcoin Sherpa, the Arbitrum (ARB) and Optimism (OP) duo are in pole position to experience exponential growth. The analyst predicts a profit rotation away from other coins towards Ethereum (ETH) and Blockchain-connected tokens, which include OP and ARB. “You don’t want to miss this price action,” the analyst said. It’s time to do the legacy rotation to ETH. I want to buy ARB or OP on a dip.” says. As a result, he recommends entries for ARB and OP to his followers around $1.38 and $3.30 respectively.
For a while, both altcoins failed to make major moves. During this time, some market players speculated that the failure to grow was due to ETH’s restriction to trade between $1,800 and $2,100. However, OP and ARB experienced extraordinary volatility during the day. The price of ARB fell to $1.33 after rising to $1.44. OP’s performance was even better. Because OP saw a 20% increase during the day. However, the token later lost altitude. Despite this, at the time of writing it was changing hands at $3.21, up over 8%.
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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