Crypto analyst Aaryamann Shrivastava talks about a 33 percent rally for AAVE after Grayscale’s move. Analyst Tiago Amaral predicts a 21 percent rally for OP. We have compiled analysts’ predictions for these 2 altcoins for our readers.
AAVE price prediction: Altcoin is struggling with resistance!
AAVE price recently attempted to surpass the $167 resistance level. However, he soon encountered a sharp correction. However, recent developments, particularly the launch of Grayscale’s AAVE Trust, have created optimism for the token’s future price movement. It is possible that this renewed bullish sentiment could trigger a significant rally for AAVE.
Currently, AAVE was trading at $150, up 8% today. The altcoin is targeting immediate resistance at $153, a crucial level that must be overcome before making another attempt at $167. This resistance has not been broken before. However, current market conditions point to a possible breach in the coming days. If AAVE successfully converts $167 into support, the next target will be $180. From here, it is possible to increase by 33% to $ 200. This would mark an 18-month high for the altcoin. This scenario depends on continued bullish momentum and greater institutional support.
However, failure to exceed $153 could lead to a decline. Thus, AAVE could potentially fall below the $126 local support at $116. This invalidates the bullish view. It will also delay potential profits for bullish investors.
OP price prediction: Potential 21% rally on the cards for the token!
Optimism (OP) price has remained under pressure this year. It also reflected broader challenges facing the scaling solution ecosystem. Fundamental indicators show a significant shift in market sentiment. This raises concerns about future altcoin price trends. Although recent metrics point to bearish signals, there are still opportunities for potential gains. Traders are closely watching for signs of a reversal as OP approaches key support and resistance levels.
The OP Exponential Moving Average (EMA) lines are currently forming a ‘death cross’, which is a bearish signal that occurs when a short-term EMA crosses below a long-term EMA. This formation usually indicates that there may be a strong downtrend ahead. It indicates a change in momentum where recent price declines are outpacing long-term price trends. EMA lines are a type of moving average that gives more weight to recent price data. This makes them more sensitive to current market movements than simple moving averages. Traders use these lines to measure the strength and direction of price trends.
If the downtrend continues, the altcoin price is likely to test the key support zones of $1.41 and $1.29. It is possible that bearish momentum could push the price lower to $1.06. This represents a potential decline of 30% from current levels. This will be a critical point for traders to watch as a break below these support levels could indicate further weakness.
On the other hand, if a bull trend emerges and the ‘death cross’ proves to be a false signal, the current price would actually be a strong buying opportunity. If OP bounces back, it is possible for it to test resistance at $1.63. If it breaks through this level, a 21% price increase potential, reaching $1.81, is on the cards.
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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