As Cryptokoin.com reported, the cryptocurrency market has been in a stable downtrend for over a year. However, a large number of cryptocurrencies fell significantly. As a result, investors began to look for altcoin projects where they could earn profits and recoup their losses. According to analysts, smart money will flow into Uniswap and these 6 altcoin projects. Here are the analyst opinions and price predictions for 7 altcoins…
Uniswap (UNI) and Chainlink (LINK)
Amid the ongoing downtrend, Uniswap (UNI) price is down 87.06% from its all-time high of $44.97. Uniswap is currently trading at $5.8. It’s also stuck in an eight-month consolidation. According to analysts, if this consolidation ends in a bullish move, the price may explode. However, it could rise to $13.7 by the end of the first quarter of 2023. A breakout from this resistance would signal the possibility of a significant rebound that could push prices to $31.5 in the next two quarters.
Chainlink price is currently trading at $6.5. It fell 87.6 percent from its all-time high of $52.8. However, the altcoin price has been moving in a rectangular pattern for the past eight years. A breakout from $9.6 will trigger a significant recovery. If market sentiment improves in 2023, this DeFi altcoin will surpass $30 by mid-year.
Aave (AAVE) and Phantom (FTM)
AAVE price witnessed a drop of 91.17 from its all-time high of $666.86. However, it is currently trading at $58.8. However, buyers defended the psychological support of $50, which supports a horizontal rally on the monthly chart. If the bullish momentum continues, a break from $115 will be an early sign of a recovery. A break from the mentioned level will push the price towards $250 by mid-2023.
Phantom hit an all-time high of $3.48 in October 2021. Afterwards, it witnessed an aggressive decline. The price saw a drop of about 93.47 percent. However, it is currently trading at $0.22 levels. It is also currently consolidating above $0.194, indicating exhausted bearish momentum. Besides, a potential rally from said support could push the price towards the 0.786 Fibonacci retracement level at $0.8. A breakout from here would support a recovery up to $1.75 by late 2023.
Curve Dao (CRV) and Litecoin (LTC)
Curve Dao price is down 91.4 percent from its January 2022 high of $6.8. Amid this decline, altcoin price retested $0.4. It also showed sustainability above the long-term accumulation zone. According to analysts, the CRV price will see a rise of $1.57 by the end of the first quarter of 2023. A breakout from this resistance will be an important milestone to be achieved as it could support a price rally to over $3.5 next year.
According to available data, Litecoin (LTC) has been in a bearish cycle for the past 12 months. Analysts predict that LTC has a positive outlook and there will be a positive trend (bull run) in the future. Also, analysts said that LTC may not yield returns like it did in 2018 or 2021. However, they note that a reasonable rate of return can still be expected from investments.
The list includes Uniswap and this altcoin among others: Cardano (ADA)
If you are looking for cryptocurrencies with good returns, you can check out Cardano (ADA). Analysts said they think ADA could explode. Cardano is currently down from $2 to $0.3608 over a one-year period. According to analysts, your current investment is likely to be devalued in the future.
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