Experts have announced meteoric forecasts for these 5 altcoins on Binance! Here are the details…
KILT may be on the rise soon
KILT is a parachain that provides secure, scalable and decentralized digital identity solutions in the Polkadot ecosystem. The KILT Protocol (KILT) is in the process of establishing a long-term bullish reversal pattern. If approved, the coin could rise more than 230 percent from its current level. KILT Protocol (KILT) price has been in a long-term downtrend ever since it hit an all-time high of $15 in November 2021. The decline lasted until $0.21 at the end of November 2022.
The price has since climbed and tested the $0.75 resistance level. Despite the rejection, KILT appears to have formed a higher low during the week of March 6-13 and currently forms the right shoulder of an inverted head and shoulders pattern. This is typically an uptrend that appears at the end of a downtrend. This pattern will complete when the price breaks above the $0.75 resistance level. The weekly RSI indicator supports this possibility by forming a significant bullish divergence and the divergence line remains intact. If so, the price could rally to the $1.3 mold target, marking a 233.1 percent increase from its current level.
KILT price has been following the 20-day MA line for more than four months. KILT typically starts a new trend when the price breaks above or below this MA. After bouncing off the $0.33 horizontal support, KILT price formed a higher bottom and is currently retesting the 20-day MA. As mentioned above, a successful break could help KILT start a new uptrend. The closest target is $0.75.
The RSI indicator supports the possibility of a breakout as it broke above the downtrend line. Such breakouts usually happen before a price breakout. This view will be invalidated if the price breaks below the $0.33 support level. If so, it could drop to the yearly low of $0.21.
Rise is close for XRP
Crypto markets have been on a roller coaster ride since the start of the week as the volatility of the coins intensifies massively. The price has previously broken above the defining pattern it has held since the price peaked in 2021. While the bullish breakout signals that significant price action for the asset may be coming, the final decision on the Ripple and SEC case could be the main catalyst. The XRP price is up more than 10 percent in the last trading day, bringing total gains over 40 percent in the current month. The broader markets have witnessed a strong rally this month, with XRP emerging as the best performer. While the price starts a giant rally on the assumption that Ripple will win the case, a dire rally could begin that pushes the price above $1 when the decision is made.
XRP price recovered from the main support levels at $0.41 and after a minor consolidation, the price climbed above $0.51 and is currently approaching $0.544. The RSI has touched the overbought levels thus identifying the possibility of a minor pullback. Meanwhile, being dominated by the rally, ADX will rise, suggesting that the price will withstand a minor bearish move and quickly rise to the key resistance at $0.6541.
With the decline of Bitcoin dominance, ADA may rise!
Dan Dambardello made statements about his thoughts on Cardano (ADA) and what price the Ethereum killer could target next. One of the first things Gambardello looks at is Bitcoin (BTC) dominance in the market right now.
Gambardello explains that the dominance of BTC is now meeting resistance, which could mean that the crypto king’s dominance may soon fall. He believes this may be due to altcoins like ADA being poised to rise.
The analyst went on to explain that ADA’s long-term resistance is currently around $0.4215, which is a very stubborn resistance for ADA to break. Gambardello also explained that this resistance zone is very important for ADA right now. A break above this price could cause the price of ADA to surge as high as $0.6 in the near future.
On the other hand, if this hurdle is too big for ADA, it doesn’t bode well for altcoins. Despite this, Gambardello holds fast to his belief that “ADA is ready to rise”. CoinMarketCap shows that ADA is currently trading at $0.3797 after a price increase of 8.14% in the last 24 hours. However, the altcoin is still down 0.19 percent from last week. The altcoin’s 24-hour trading volume is currently in the green zone and stands at $390,868,948 after up more than 30% since yesterday. With a market cap of $13,187,189,295, ADA is ranked as the 7th largest crypto.
MATIC is also on the analyst’s list
Over the past two weeks, MATIC price has witnessed a steady decline between the two converging trend lines. On the 4-hour timeline chart, this correction phase is shaped by a famous bullish continuation pattern called a falling wedge. MATIC price will continue its ongoing correction until the falling wedge pattern remains intact.
Theoretically, asset price falling within converging trendlines indicates that the bearish momentum is gradually disappearing. When the coin price reaches the top of the wedge pattern, buyers usually take back trend control and cross the overall trendline to start an uptrend. However, with the growing uncertainty in the crypto market, MATIC price exhibited a false breakout from the support trendline of the pattern. On March 27, the price crossed the lower trendline, showing the dominance of sellers and the possibility of further declines.
However, the seller failed to hold the lower levels and with today’s 1.5% bounce, MATIC price retraced the breached trendline. If MATIC sustains above the support trendline and buyers can push the price towards the overall trendline. This bear trap should have caught aggressive shorts who could face forced liquidation due to tight stop loss thereby increasing buy orders in the market. Anyway, interested traders looking for an entry opportunity should wait for an upside break from the pattern’s resistance trendline. This potential breakout could raise the market value of the polygon coin to $1.2.
The RSI, despite the downtrend in price action, the sideways 4-hour RSI slope highlights losing the bearish momentum. This bullish divergence gives additional confirmation for the upcoming bullish breakout. MATIC price action below the middle line of the Bollinger band indicator reflects that sellers are currently controlling the price trend.
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