Crypto analyst David predicts that PSG will see a 100 percent increase in April. Analyst Lockridge Okoth expects a strong run from NEAR. We have compiled analysts’ predictions for these 2 altcoins for our readers.
PSG price prediction: Altcoin price may rise 100% in April!
The price of the Paris Saint-Germain Fan Token (PSG) broke above the long-term falling wedge formation during the week of February 19-26, 2024. This formation has been in existence for 616 days. Therefore, breaking above the formation indicates the end of the long-term downtrend. It also indicates that the altcoin price has started a new uptrend.
Indeed, the price continued to climb above the $4.5 resistance zone. It also confirmed it as support two weeks ago (green arrow). This movement indicates bullish momentum as buyers step in when the price drops to the breakout level, typically leading to a continuation of the uptrend. Meanwhile, the weekly RSI (Relative Strength Index) has been in the overbought zone for the last 5 weeks. Therefore, this shows that the bulls completely control the market. Therefore, it is possible for PSG to rise to $10.5, the top of the wedge formation, in the near future. The target represents an upside of 97.86% from the current price level.
The most likely expectation is that the PSG price will continue to rise in the near future. The nearest target is $6.6. Additionally, the token also has the potential to rise to $10.5. The bullish view will be invalidated if PSG’s price falls below the $4.5 zone on the daily time frame.
NEAR price prediction: 50% gain coming if history repeats!
Near Protocol (NEAR) price retested the $2.76 barrier in January following the December breakout. The altcoin then confirmed its next move north to test the $6.08 resistance. If history repeats itself or follows a break above $6.08, the current retest of this buyer congestion level could send NEAR price 50% north and clear the $10.24 resistance.
Meanwhile, the Relative Strength Index is well above the ’50’ average level. Additionally, the Awesome Oscillator (AO) histograms are increasing in volume. These also show a prevailing bullish trend. Upside potential for NEAR price depends on the bulls defending the $6.08 support. One of the most important factors that will ensure this result is the show of strength of the Bitcoin (BTC) price. If the retest is successful and NEAR price clears the $10.24 roadblock, the bulls will target $15.00 as the next target, standing around 125% above current levels.
On the other hand, if it breaks the $6.08 support, it is possible for the altcoin price to decline. A decisive close below this base on the weekly time frame would invalidate the bullish thesis. It will also set the tone for NEAR price to revisit the $2.76 support.
The opinions and predictions in the article belong to the analysts and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing.
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