Crypto analyst David predicts a 30 percent upside for COMP in the near future. Analyst Valdrin Tahiri predicts a 40 percent increase in the price of the leading altcoin. The analyst also expects more for record-breaking ARB and ORDI.
COMP price prediction: Altcoin is poised for a 30% rise
Compound (COMP) price has been on the rise since dropping to a low of $35 on September 11, 2023. Since then, the upward momentum has been gradual. However, it is a positive sign that the price broke through the strong resistance zone at $57 and confirmed it as support on December 31 (green arrow). This is a sign that the bulls are taking control of the market. It also indicates that the upward momentum will soon accelerate.
Meanwhile, the daily RSI (Relative Strength Index) has broken above the descending divergence line (red line). Also, currently over 50. This supports greater earning potential. Therefore, it is possible for COMP price to rise towards the next resistance zone at $80. This figure corresponds to a 30.50% increase from the current altcoin price.
The most likely scenario shows that the COMP price will continue to rise in the near future. The closest target for the altcoin is $68. Additionally, COMP also has the potential to reach $80.
ETH price prediction: When will the price reach $3,000?
Technical analysis of the daily time frame gives a bullish outlook on the future ETH trend due to price action and RSI data. The price action broke out from a long-term resistance at $2,120. Also, after confirmed it as support (green icon). This shows that the altcoin price broke out of the minor resistance at $2,370.
Meanwhile, the daily RSI has created a hidden bullish divergence (yellow), which is a sign that the trend is continuing. Therefore, this supports the increase in Ethereum price. Since there is a lack of overhead resistance, a close above this area could trigger a sharp upward move towards the next resistance between $3,360 and $3,500. This target is 40% above the current altcoin price.
Despite this bullish ETH price prediction, a close below $2,370 could lead to a 12% decline in the horizontal support area at $2,120.
ARB price prediction: What’s next?
cryptokoin.comAs you follow from, Arbitrum (ARB) price has increased parabolically since September 2023. The price bounced off the trend line twice (green icons). Both times it accelerated the rate of increase. More recently, ARB jumped on December 18th. It has increased rapidly since then. Today, ARB broke through its all-time high of $1.82 to $1.84. Cryptocurrency trader JJCycles believes that once ARB reaches price discovery, it will lead to further acceleration. However, this has yet to happen as ARB has yet to close above the $1.75 zone.
However, the 3-day Relative Strength Index (RSI) supports the increase. If the upward movement continues, it is possible for the ARB price to increase by 40%. Thus, the altcoin will reach the next resistance at $2.50.
Despite the bullish ARB price forecast, a close below the $1.75 resistance would invalidate the breakout. This will also cause a break below the parabolic ascending support trend line. Then, the altcoin price is likely to drop 30% to the next closest support at $1.20.
ORDI price prediction: More than $100 is on the cards for the altcoin!
ORDI was one of the top gainers in November and December. The price has increased by a whopping 1,400% since November 7. ORDI reached an all-time high of $92 today. The entire movement took place within an ascending parallel channel. However, ORDI is moving above the resistance trend line of this channel and coincides with the $87 Fib retracement resistance.
Meanwhile, the 12-hour RSI supports the legitimacy of the breakout. The indicator is rising and the downtrend is leaving the trend line (green). Cryptocurrency trader NobleCoins predicts that the rally will not stop once the price reaches $100. If the upward movement continues, it is possible for the altcoin price to increase by another 30%. Thus, ORDI will reach the next resistance at $116.
Despite the bullish ORDI price forecast, failure to break out of the channel means the local top is inside. ORDI is then likely to drop 35% to the nearest support area at $56.
The opinions and predictions in the article belong to the analysts and are definitely not investment advice. We strongly recommend that you do your own research before investing.
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