Pointing to his recent analysis, popular crypto analysts stated that he will make a bull explosion for these 6 altcoins on Binance! Here are the details…
Leading crypto analysts drew attention to these 3 altcoin projects!
Popular analyst CryptoBusy, in a new post he shared on YouTube, pointed to the bull market and pointed out that these altcoin projects may explode in the near future. The analyst attributes this to the fact that these altcoins are 90 percent away from ATH levels.
Filecoin (FIL)
According to CoinMarketCap, the FIL is currently 97 percent off from its ATH and is currently trading at $5.52. Although it is experiencing storage issues, the project is working on new solutions such as the Filecoin Virtual Machine. However, the Filecoin ecosystem has been expanding rapidly with hundreds of unique smart contracts since March. The CryptoBusy team also notes that when crypto projects pose a threat to developments in a crypto winter, it could mean great things for the token in the next bull market.
Flow (FLOW)
cryptocoin.com As we reported, FLOW has dropped 98 percent since reaching ATH and is currently trading at $0.9993. What caught the CryptoBusy team’s attention is that FLOW is currently ranked #8 in the Coinbase Ventures Portfolio. As these venture capital firms often do extensive research on projects before investing their money in a project, this could be a remarkable development and mean that Coinbase believes there is great potential when it comes to FLOW.
MoonBeam (GLMR)
GLMR has also dropped 99 percent since its AHT and is currently worth around $0.381. Currently, Moonbeam is trying to evolve itself to rival Ethereum by extending the core Ethereum feature set with additional features such as on-chain governance, staking, and cross-chain integrations. This comes across as another self-developing project to prepare for the next bull run.
The analyst stated that these altcoins have bullish potential
Compared to the rest of the crypto market, Bitcoin’s dominance increased significantly in March. During this time, the BTC price increased by about 22.7 percent, while its dominance rose from 44 percent to a 48 percent peak. Despite this, the altcoin market has underperformed or delivered negative returns. However, pointing to the upcoming bull market, analysts pointed to another 3 altcoin projects that investors should follow.
Ripple (XRP)
The price of XRP has had higher lows and higher highs over the past 2 weeks. This resulted in the formation of an ascending price channel on the altcoin’s daily chart.
Momentarily, the bears for XRP are battling the bulls to defend the $0.56 resistance level, causing the altcoin price to pull back over the past 48 hours. If the nearest support level breaks $0.50, the price of XRP could fall into the demand zone between $0.46 and $0.4747, which could lead to an increase in the price of XRP next week. The price of XRP is currently resting on the 9-day EMA line. If it loses the support of the EMA line, it will likely drop to $0.4617 next week. This bearish thesis will be invalidated if the price of XRP can close above the $0.5176 resistance in the next 24-48 hours. In such a case, the price of XRP will likely consolidate for a few days before rising to the next resistance level at $0.5430.
Cardano (ADA)
Similar to XRP’s daily chart, an ascending price channel has also been created on ADA’s daily chart. This comes after the price of ADA has also made higher and higher lows over the past 2 weeks.
The price of ADA is currently supporting the 9-day EMA line. Furthermore, this EMA line is also trading above the 20-day EMA line at the time of writing, which indicates that the price of ADA is currently in a bullish cycle. ADA’s price could pull back to the $0.3709 and $0.3822 support zone before continuing its upward move next week. If the bulls do not step in once the price of ADA enters this support zone, the price of ADA risks falling as low as $0.3576 next week. This bearish thesis will be invalidated if the price of ADA stays above the $0.3822 mark in the next 24-48 hours. If this happens, it looks like the altcoin price will rally to $0.4179 next week.
Polygon (MATIC)
An ascending ascending triangle chart pattern has formed on the daily chart of MATIC. If this pattern continues, MATIC’s price will move to the next key resistance level next week.
An important level that traders will want to keep an eye on is the resistance level around $1.1578. If the price of MATIC closes above this level in the next 24-48 hours, the altcoin price will move towards the next resistance level at $1,2542. A potential early confirmation of this bullish move would be the 9-day EMA crossing above the 20-day EMA. This will signal that the bulls are stepping in to provide the needed support for the price of MATIC to surge to the aforementioned $1.2542 next week. On the other hand, if the price of MATIC breaks below the minor support level of $1,0850, it will likely continue to decline below $1 next week.
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