When an altcoin cycle begins, the past years immediately come to mind. Especially the ascenders. We are approaching such a cycle again. At this point, analysts chose 5 coins. Here are those cryptocurrencies.
Michaël van de Poppe chooses altcoin AVAX, ZIL and LTC
Michaël van de Poppe recently shared his analysis with his 660,000 Twitter followers. Accordingly, altcoin AVAX highlighted the bullish potential of ZIL and LTC. Van de Poppe believes that altcoin Avalanche (AVAX) has shown strength by breaking past the $14 resistance. After a short period of consolidation, potential buying opportunities await in the $12.70-12.95 range. It is also targeting a move towards $16. This break created a positive mood for AVAX’s future prospects.
There is a remarkable 60% increase in just one month. However, altcoin Zilliqa (ZIL) seems poised for a pullback. Van de Poppe suggests waiting lower around $0.018 before considering longs. This strategy allows traders to take advantage of potential buying opportunities after a pullback.
For Altcoin Litecoin (LTC), Poppe continues his comments. The altcoin wants to have a positive outlook until the halving event in August. However, it should maintain its support above the critical 200-week exponential moving average (EMA). There is currently a retest of the 200-week EMA around $95.50. Accordingly, this level will be very important in determining the future trajectory for the altcoin.
Ivan on Tech looks at altcoin cycle
Reputable cryptocurrency analyst Ivan on Tech has released a video analysis focusing on the prospects of the altcoin cycle. Considering the potential risks and rewards, Ivan shares valuable information for investors in the evolving cryptocurrency environment. Ivan underlines a remarkable change in the altcoin market, urging investors to take action despite the market inactivity. He suggests that even small positions can yield significant results, as significant pullbacks and dips are expected.
Ivan forecasts a short-term uptrend followed by a potential downtrend, in line with Chris Brunski’s forecast. He recommends that a 20-40% drop in quality crypto assets be considered a potential opportunity ahead of the expected altcoin batch between 2022 and 2025. Ivan emphasizes that the ongoing high volatility in the market presents both opportunities for significant gains and risks of loss. He uses Bitcoin as an example. It outlines the scenario where BTC bounces off the current price, is pumped to a certain level, and then retests. This potential move could result in a 25-30% drop depending on where the price stops. Ivan suggests that Bitcoin’s move will likely affect larger waves in the altcoin market.
Ali Martinez chose XRP
Famous crypto trader and analyst Ali Martinez announced that there is an interesting development in the XRP market. The TD Sequential indicator offered a buy signal on the 3-day chart, igniting excitement among crypto enthusiasts. XRP needs to surpass critical price levels to confirm the bullish momentum. It is crucial to maintain a position above $0.45, which serves as a foundation for altcoin XRP’s rise towards $0.51. Breaking the $0.51 resistance level will trigger a major breakout. It will also potentially push the price towards $0.60. The TD Sequential buy signal adds to the anticipation of a resurgence in XRP’s value.
XRP is trading at $0.4742, up 1.49% in the last 24 hours, as of July 11 data. However, it fell 3% over the previous seven days. Investors and traders continue to watch the price action of XRP as they await potential market movements and a possible reversal.
Convex Finance (CVX) attracts attention
Convex Finance (CVX) price analysis reveals promising signs for potential gains in July. The bullish signals from CVX/USDT point to a positive outlook for the cryptocurrency. The altcoin CVX/USDT pair has been on an uptrend since recovering from the $3.2 support zone on June 15. It formed an ascending structure and broke above the short-term descending resistance line, signaling the control of the bulls. The successful conversion of the previous peak to support on July 7 confirms the continuation of the uptrend.
The daily RSI indicator also rose above the resistance line, further supporting the bullish sentiment. In conclusion, cryptocoin.com Looking at it as an outlook, the altcoin CVX/USDT pair is expected to rise towards the $4.9 resistance zone, representing a potential increase of 20% from the current level. Breaking this zone will set the next resistance target at $6.3.
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