Analysts predict a bull run for these 8 altcoins. In addition, analysts urge investors to buy for these assets.
These altcoins are in rally
Bitcoin price is facing some bearish moves as the price tumbles a bit after surging above $18,000 to $18,385. However, the price of the majority of altcoins has been greatly inflated. ETH price climbed above $1400 while DOGE climbed above $0.08. Meanwhile, Polkadot rallied above $5 and XRP hit daily highs around $0.3816.
However, speculations of a short-term bounce continue the rally, with some altcoins such as APE, DyDx, GMT and SAND suggesting the possibility of a bull run next month. Mac, a well-known analyst, tells his 348k followers that some tokens with 100% inflation are closer to a breakout in the coming days.
May rise in February
The analyst cites four tokens, among which Apecoin is predicted to trigger and ignite a notable rise in the next few days. The prices of other tokens such as DyDx, STEPN(GMT) and Sandbox (SAND) are believed to rise in February.
However, there has been a lot of speculation in the crypto space lately. While some believe the current uptrend could continue for a few more months, other analysts think the bullish trap has been set as the markets could be ‘beaten’ very soon.
Also, the US CPI rates are set to hit the markets from now on, which is believed to have a major impact on the Bitcoin price and the entire crypto space. If CPI rates are similar to the estimated 6.5%, markets could use another foot north.
Analyst urges investors to “buy from the bottom”
Altcoin Sherpa, a well-known cryptocurrency analyst and trader, has made predictions for Bitcoin, Aptos and WOO Network.
BTC and APT among those expected to rise
The analyst is trying to inform his 188,400 Twitter followers that Bitcoin is on the verge of reaching its next bullish target of $19,000. However, he also says he is unsure whether BTC will see a drop before the bull run. cryptocoin.com As we mentioned, Bitcoin is selling at $ 18,990 with an increase of 4.4% in the last 24 hours.
Altcoin Sherpa talks about Aptos and claims that if Bitcoin continues its bullish move, the altcoin will soon rise more than 31%. The analyst believes that Aptos will see $7 if the bull run continues. Currently, Aptos is trading at $5.18, down 1.60% in the last 24 hours.
Also, Altcoin Sherpa warns its followers that although the crypto market has observed a recovery rally since the beginning of 2023, it has yet to hit the bottom. By this, he means that the crypto market will likely see a bearish bias before the next bull run. However, it urges traders and investors to turn it into an opportunity to buy from the bottom.
This altcoin could experience a drop
Finally, the strategist sheds light on the WOO Network (WOO), a liquidity network. He says that if Bitcoin makes a downward move, the WOO is about to take a dip. According to Sherpa, if Bitcoin falls, WOO Network will drop between $0.15 and $0.14. Currently WOO is changing hands at $0.16, down 1.73% in the last 24 hours
Fall alerts and resistance pressure
Rekt Capital wraps up its analysis by introducing Fetch.ai (FET), an artificial intelligence-driven digital asset, which has grown by nearly 130% since Jan. If FET can stay above the $0.19 range, it will rise to $0.26 in the next step. However, it is warning bearish if it fails to hold the zone around $0.19.
Moving to smart contract platform Ethereum (ETH), Rekt Capital says traders can expect heavy resistance in the short term for the top altcoin by market cap. In his statements, the analyst said:
“ETH is putting more and more pressure on this orange resistance area. Ahead is also a series of lower highs that act as another resistance. ETH is currently in a confluent resistance area. Of course, breaking the black diagonal will be bullish but ETH is not there yet.”
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