Technical analysts shared in detail why they are waiting for a rally for 3 altcoins from the Binance listing. Let’s take a look at the expectations of the analysts, keeping in mind that the forecasts are not certain.
These 3 altcoins from Binance listing are ready to rally
cryptocoin.comAs you follow, XRP price rallied over 40% after the positive trend in the SEC case. Price currently continues to respond positively to Ripple’s developments in court. On the technical side, the cup and handle pattern on the XRP chart points to $0.70 with an additional 40% potential move.
XRP is currently trading close to $0.52 to hit the $0.70 formation target. If buyers heed the call, XRP bulls will be on their way to achieving that goal. The position of the MACD indicator supports the bulls on this path. The bulls have to hold the $0.50 support to mitigate the risk of the bears erasing the gains made in the last 30 days. On the other hand, a daily close below $0.50 threatens to break the secrets supports. Analyst Josh Isige says the price could break $0.40 and $0.34 after this level.
Tony Montpeirous: LUNA price will decide soon as altcoin market is stagnant
XRP was undoubtedly one of the featured cryptocurrencies of the week. Similarly, the cryptocurrencies of the Terra ecosystem from the Binance listing are also exhibiting sharp price movements. For example, volatile price movements throughout October made LUNA question what to do. After an impressive 3-fold rally in September, the LUNA is down 70%. If market conditions continue like this, sideways movements will most likely break out hard in either direction.
LUNA price is currently trading at $2.49. The downtrend showed a consistent tapering pattern on the Volume indicators. The pattern shows that the strength of the downtrend is decreasing. The bulls have returned to support on the RSI on both hourly and daily timeframes.
Putting these factors together, there is a fair chance for LUNA price to rally towards the $5.00 congestion zone. A break above the $2.80 rise would be the catalyst to trigger such a move. On the contrary, if the bears break the $1.96 lows, investors should expect an additional drop towards the $1.75 region, such a move would result in a 35% drop.
ADA is on the rise with this news
The Cardano Foundation is gearing up for the Web3 expo in Las Vegas, October 10-13. The conference brings together the entire Web 3.0 and metaverse at Wynn Resort & Casino. Prior to the conference on October 8 and 9, the Cardano Foundation will attend the cNFTcon event. Jeremy Firster, the organization’s head of partnerships and senior officer, will lead the ecosystem.
On the technical side, ADA price formed a falling wedge after a major move to the side. The upper trendline marks a series of higher lows, while the lower trendline connects a series of lower lows. When the two lines converge, the ADA price consolidates. A decreasing trading volume characterizes the usual sideways movement at the top of the pattern. To confirm the wedge, Cardano price must break out of the pattern along the upper trendline before the lines converge.
As ADA price climbs above the wedge formation, traders should watch for a sharp increase in volume. Also, the MACD indicator is poised to step into the positive territory (above its average line) and further strengthen the bulls’ influence on the price.
A buy signal will come to life when the 12-day EMA (blue) breaks above the 26-day EMA (red). Although the wedge pattern marks an 11% breakout to $0.47, traders can choose to take profits on the 50-day SMA and the 100-day SMA, keeping in mind the general crypto bear market conditions.
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