Crypto analyst David expects a run of over 60 percent for BAKE. The analyst also predicts further upside for TON, which saw strong gains today. Analyst Aaryamann Shrivastava says the ATH door is open for APT. Crypto analyst Akash Girimath predicts a strong upward move for XRP. We have compiled analysts’ predictions for these 4 altcoins for our readers.
BAKE price prediction: Is a strong run imminent for the altcoin?
BakerySwap (BAKE) price has been trading within a long-term descending parallel channel since May 2022. This is a bullish pattern that leads to breakouts in most cases. As a matter of fact, the price broke out above this formation with a large bullish candle in the week of December 18-24, 2023. Since this pattern has existed for 588 days, a break above this formation would signal the end of the long-term downtrend.
After being rejected by the $0.77 resistance zone, the price successfully confirmed the channel resistance line as support during the week of January 22 – January 28, 2024 (green arrow). Altoin price has managed to stay above this line ever since. This indicates that the bulls are buying aggressively at the breakout level. The weekly RSI is above 50 and trending upwards. This supports the possibility of greater earnings. Therefore, it is possible that BAKE price may revisit the $0.77 resistance zone in the near future. This represents an increase of 63.19% from the current price.
TON price prediction: How high can it rise?
Toncoin (TON) price has been trading within a symmetrical triangle since April 2022. He confirmed the validity of the formation by testing both the support and resistance lines of the formation several times. TON price rose above this formation in the week of February 26 – March 3, 2024. Additionally, the following week confirmed it as support (green arrow). Since this formation has existed for 672 days, the post-breakout movement is expected to be very strong. Indeed, the altcoin price has risen significantly since then. In the process, it reached an all-time high of $5.2.
The weekly RSI (Relative Strength Index) has moved into the overbought zone and is sloping upwards. This shows that the bulls have completely taken control of the market. When an asset enters the price discovery phase, Fibonacci extension levels are useful tools for identifying local tops for it. Since TON price broke above the 1.618 Fibonacci extension resistance level ($4.6), the next potential target is the 2.618 Fibonacci extension ($6.38). This figure corresponds to an increase of 31.32% from the current price level.
APT price prediction: Is ATH the next stop for the altcoin?
Aptos price is less than 20% away from its all-time high at $19.92. This is the current ceiling that APT reached in January 2023. Breaking this barrier will mean that the cryptocurrency has not only established a new all-time high, but is also closer to reaching $20.
However, if the altcoin fails to significantly test the $15.68 line as support, its price is likely to drop towards $13.61. Losing this level would invalidate the bullish thesis. This would push APT to $12.16.
XRP price prediction: Likely to bounce like a meme coin!
Ripple price has been in a tight consolidative range for more than 250 days. This development produced two important results. These are: A break above the descending trend line and the $0.586 resistance level turning into a support base.
Currently, the altcoin price continues to trend above $0.586. This points to the formation of another gap. The weekly Relative Strength Index (RSI) has recovered after briefly falling below the 50 average level. He also implied that buyers were still in control. The Awesome Oscillator (AO) is hovering above the zero level, indicating that bullish momentum prevails. These technical views suggest that Ripple price is poised for an explosive move to $0.920, which is roughly 50% away from the current level of $0.617.
All signs point to a potential bullish outlook for Ripple price. However, investors need to be cautious about the Bitcoin price. If BTC continues to fall to $59,000, there is a chance that altcoins will fall along with it. In such a case, it is possible for Ripple price to decline by 22% to the next important support level at $0.481.
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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