The analyst alias Bluntz is waiting for a rally for LTC. Analyst Filip L talks about a 20% negative risk for DOGE. Crypto analyst Ekta Mourya says BNB will outperform its competitors. Analyst Aaryamann Shrivastava, FTM is likely to see a 20% increase. Finally, analyst Lockridge Okoth expects a 40% increase in FIL price.
Forecasts for LTC, DOGE, BNB, FTM and FIL
Litecoin will exceed $190
According to the analyst alias Bluntz, it is possible that the last Litecoin rally will continue for another 40 days. Bluntz’s prediction derives from Litecoin’s historical price behavior prior to the last two halvings.
The analytical data Bluntz shared shows that on both occasions, the LTC price made significant gains until about 50 days before the halving event. Specifically in 2019, the price surged more than 300% before pulling back. The expected date for the next Litecoin halving is July 26, 2023.
Another analyst nicknamed “The Wolf” also predicts a significant Litecoin rally. According to him, the party is just getting started. The analyst shares a screenshot of a chart analysis where he expects LTC price to respect the uptrend line supporting its current trend. He expects the price to surpass LTC’s annual high of $105.69. Accordingly, he predicts it will rise above $190 before the next halving event.
DOGE price still has 20% negative risk
DOGE carries a number of bearish elements in its trade setup. The current price is not only moving below both the 55-day and 200-day Simple Moving Average (SMA), but also the 55-day price below the 200-day SMA, which gives us the Death Cross. All technical aspects confirm a more negative outlook as the Relative Strength Index (RSI) still has room to decline.
DOGE currently has a line in the sand around $0.068. This level coincides with last week’s low. It’s also just inches away from the monthly S1 support level. When it breaks that, it will be both a significant ground level and a clear path towards $0.057, which is the monthly S2 for May and carries a 20% devaluation with it.
The only thing that could attract more investors and make DOGE a more attractive place to invest some money will be if DOGE can break last week’s high. A break above $0.077 will definitely attract more traders. This would also be seen as a bullish breakout. Next is a re-entry above the 55-day and 200-day SMA and ultimately a return to $0.100.
BNB will outperform its competitors
cryptocoin.comAs you follow, BNB is taking advantage of Binance’s dominance in the DeFi world. BNB is in an uptrend starting mid-June 2022. Also, the altcoin is on track to pass the 50% Fibonacci retracement (from the April 2022 high of $460 to $184 the June low) at $322. The 50-day Exponential Moving Average at $318.80 is close resistance for BNB in an uptrend.
Should prices drop, the 38.2% Fibonacci level at $289.50 will be key. If it falls below this level, the bullish thesis for BNB will be invalid. In case of a downside, the equally low $267.7 level is likely to act as support for BNB.
Phantom targets May summits
FTM price traded at $0.38, gaining around 7% in the past three days. Therefore, the altcoin has the potential to continue down this path. The Relative Strength Index (RSI) is climbing towards the neutral line at 50.0. Turning this into a support level will likely trigger further increases in price. Currently, the next major resistance for Phantom price stands at $0.42. This price point coincides with the 50 and 100-day Exponential Moving Average (EMA). But broader market clues alone do not drive price; So is the determination of investors.
Over the past month, Fantom has observed a sharp decline in active deposits on exchanges. With a 70% drop from an average of 113 deposits per day to 33 deposits, it looks like FTM holders have decided to hold on to their holdings for now. Often, an increase in active deposits means selling, which is not ideal given that most investors are still underwater.
As a result, Phantom price action points to a 20% rally. However, this is possible if it turns the $0.42 resistance level into a support base. On the other hand, if the recovery fails, FTM is likely to drop to its March low of $0.33.
Will Filecoin price rally 40%?
The FIL is up for auction at $4.53 at the time of writing. Near support level turns FIL at $4.00. The altcoin rallied after the Parabolic SAR fell below the price. This was supported by the bullish signal of the Relative Strength Index (RSI) when the FIL called for buying after crossing the signal line (yellow band) below.
If these supporting factors persist, an increase in buying pressure could see FIL price break the close hurdle at $5.12 before climbing a neck to mark the $6.37 resistance. Such a move would mean a 40% rise. In a strong bullish case, the FIL could retrace early May highs around $7.50 or $8.57, where it was rejected around February 20.
Conversely, early profit taking disrupts the current bullish warming, leading to a bearish bias. This pushes the altcoin price below the critical support of $4.00. Or at worst, a drop to the $2.79 low is likely.
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DOGE, LTC, FTM, FIL and BNB: Get Ready!