2 closely followed crypto analysts examine the next technical levels of 3 altcoin projects that they predict a strong rally. Let’s take a look at the current price forecasts, keeping in mind that the forecasts are not certain.
These 3 altcoins are ready to rally
In their current analysis, Altcoin Sherpa says that DeFi payment network Terra looks strong in shorter timeframes as it continues to form lower highs:
In my opinion, the four hour chart is still bullish market structure and the EMAs (exponential moving averages) are still looking pretty good.
The crypto strategist warns that LUNA is starting to show bearish signals while still believing it is in an uptrend:
A very high volume of sales is coming in and it looks like it’s potentially playing some kind of head and shoulders model. But I’d personally take care to shorten it because I think you usually don’t want to shorten things that are super strong.
cryptocoin.com According to Sherpa, whose analysis we shared with you, the $75 price area offers a good level of support for LUNA.
Avalanche (AVAX)
The next altcoin on the analyst’s radar is the smart contract platform Avalanche, which he says is gearing up for a rally ahead of its peak. According to Sherpa, the next target for AVAX bulls is $100:
AVAX has been in bearish market structure for a while as we are seeing some of these LL and LH setups. But we may be debuting right now and there are some bullish catalysts for AVAX in the coming weeks… I think the next target will be around $100.
Altcoin Sherpa predicts that AVAX will rally in the coming days, but believes that the altcoin will not record ath level.
Solana (SOL) prepares for breakout
Our next analyst, the host of YouTube channel InvestAnswers, says that Solana may be on the verge of regaining its triple-digit price level as it gives a strong bullish signal.
The chart shows several strong upside divergences. If you look at the RSI at the bottom you can see the bullish divergence from the price action and the compression wedge we are seeing… Solana’s price action is not only creating this upside divergence from the RSI on the same timeframe, but it is only a matter of time before many believe we can get back to $120…
The analyst is also keeping a close eye on smart contract platform Avalanche and says it is now at a point where the bulls are likely to take control of the market.
As for Terra, the crypto analyst says that Ethereum rival Sharpe ratio points to a strong bullish outlook.
You always want your Sharpe ratio to be above 0.5… If you’re in one, that’s a great result and that means you’ve crushed the market, beat everything out there…
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