Let’s take a look at the current BTC, ADA, ETH, LINK and VET forecasts from popular Youtube and Twitter analysts. Benjamin Cowen and Justin Bennett list altcoin projects that could turn the drop into an opportunity, while Capo on Twitter says the drop is just a “mini bear market.” Here are the details…
Benjamin Cowen examines the LINK/ETH pair
First analyst, 680,000 YouTube subscriber Benjamin Cowen, says LINK should watch out for whether it is above or below the “bull market support band,” a technical indicator that is a combination of the 20-week SMA and 21-week EMA action. The analyst states that LINK’s valuation against Ethereum (ETH) has fallen since August 2020. Hence, he predicts that Chainlink could “break out of the downtrend” against ETH as long as the LINK/ETH bull market breaks the support band.
cryptocoin.com The second analyst, Justin Bennett, whose analysis we share with you, thinks that if VET exceeds $0.10, the price will continue to rise. The crypto analyst also identifies critical technical levels:
As long as it’s above the $0.06 zone, I’m still in an uptrend for next year and I think if we break above $0.10, we will retrace the $0.103 area and then the $0.12 zone. Then potentially $0.15 and more.
- The analyst also states that potential breakout areas could reach $0.38-0.40 if VET starts its bullish momentum.
Capo looks at ADA chart to identify bottoms
Recent analyst Twitter’s Capo takes a look at the price action of altcoins like Cardano (ADA) to support his arguments that the market is nearing bottoms:
One of the main reasons I think the bottom is yet to come is because many alternatives like ADA have not yet taken the bottom.
Looking at the leading smart contract platform Ethereum, Capo says the price dropped before reaching ATH levels:
ETH was and still is a bit scary. Be careful trying to catch the dips because a wick below $3,000 is possible.
Lastly, taking a look at Bitcoin, Capo highlights the $40,000 range as support in the leading cryptocurrency:
Also, altcoins against BTC are bearish on lower timeframes, so BTC should better hold the last leg. I don’t expect less than 40,000.
Still, Capo urges his followers to remain optimistic that the bull market will continue:
This isn’t the end of the bull market, it’s the end of the mini bear market we just had.
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