Popular crypto analysts Altcoin Sherpa and Credible Crypto shared 5 altcoins that they expect hard moves in both directions. Analysts, who expect a rise in Bitcoin in the short term, think that this momentum can be accompanied by several altcoins.
Altcoin Sherpa updates bullish outlook on Bitcoin and 3 altcoins
The widely followed crypto analyst says Bitcoin is poised for a major breakout to the upside as he updates his forecast on Solana and low-volume altcoins. In his latest analysis, he mentioned that Bitcoin’s current price could rise more than 30% from the $28,000 region.
Showing a daily chart of past Chicago Mercantile Exchange (CME) futures gaps for BTC, Sherpa predicts that Bitcoin will rise to a gap formed at $36,000, the next gap above the $28,000 price level. As these divergences in trading are often filled in, traders tend to look for price gaps.
Solana can gain momentum in both directions
Sherpa then shares two possible scenarios for Ethereum (ETH) rival Solana. One of his predictions shows Solana rising to around $40 and the other showing SOL rising from a quiet rally to around $25.
Blur (BLUR) among altcoin projects expected to drop
Sherpa also takes a look at the latest state of the NFT marketplace Blur (BLUR). Based on Fibonacci retracement levels, a technical analysis method for identifying support and resistance levels for a coin, the technical analyst predicts that Blur will drop to $0.58 or $0.50 on the Fibonacci scale.
Additionally, Sherpa notes a large amount of trading volume, which gathered at $0.58 on the four-hour chart, as well as several Exponential Moving Averages (EMAs) that converge at this point:
Four hours provides a little more clarity. Huge volume of around $0.58, many EMAs all lined up there. The four-hour 200-EMA is acting as resistance on the first move as expected.
Liquidity (LQTY)
The last altcoin on the analyst’s radar is Liquidity (LQTY), which he says likely made a local bottom at $2.08. While Sherpa does not see any opportunity in this region, it recommends adding it to the watch list as the price is nearing the bottom.
Credible Crypto agrees with Altcoin Sherpa: Analysts expect BTC run in short term
Another analyst, Credible Crypto, says that the ATH level for Bitcoin is closer than anyone expected, and he thinks a halving-focused rally in mid-2024 is overrated:
For those who don’t expect new ATH until 2024 or ’25 due to halving: You know there will only be 21 million BTC – so now you’re buying/holding BTC. This information is known and therefore priced. You also know that there is a halving every four years. What makes you believe the former is priced but the latter is not?
A few altcoins are also bullish as Credible expects Bitcoin to recover sharply in the coming months. According to Credible, Ethereum rival Hedera (HBAR) is potentially one of the best deals in the altcoin market.
Hedera (HBAR)
Credible compares Bitcoin’s price action over the past few years to artificial intelligence-focused altcoin Fetch.AI (FET) and states that HBAR could potentially gain further advantage if it follows the same pattern.
If you’re expecting BTC to rise over the next six months, there’s probably no better time than now to load up on HBAR. I think if you missed the $0.03 touch, you can’t expect much better from a high timeframe entry. I bought it for the first time in a long time at $0.06 and will not sell until the new ATH.
HBAR price prediction
The analyst is currently targeting a short-term price of around $0.08, about 10% above current price levels at the time of this writing.
Credible expects rise in XRP as well
The crypto analyst sees that XRP is doing well behind the payment network industry in particular. cryptocoin.com As XRP, we mentioned that last week, XRP broke a record in the largest South Korean exchanges. Credible thinks that XRP supports itself in terms of price with its payment method features.
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