An analyst with a large following believes that altcoins are poised for a bounce after a heavy correction. The analyst shares an altcoin that he thinks will perform better than others. Analyst Aaryamann Shrivastava says there is more room up top for OP and GRT.
Altcoins will bounce ‘very hard’ from the bottom: Here are 2 meme coins to watch
Cryptocoin.comAs you follow from , the market is healing its wounds after the sharp decline. However, some analysts are expecting a bounce for altcoins. The analyst nicknamed The Flow Horse says that altcoins will soon rise from the bottom of the market in a mean reversion. In this context, the analyst said, “Bitcoin aside, some of these altcoins will jump very hard from the normal mean reversion. “I may have to make a shopping list, but I still feel a little disinterested in trading until at least July.” says.
The analyst also picks Pepe (PEPE) as the meme coin, which he believes will outperform others, including dogwifhat (WIF). The Flow Horse explains its choices as follows:
Memecoins are not dead, but I don’t know if you want to reference WIF as the representative pair or horse to bet on. WIF has fallen from all-time highs against Solana, against BTC BTC is underperforming ATH, both are underperforming from original April lows. It is underperforming from recent highs. That’s why the most suitable horse is PEPE.
GRT price forecast: There is room for growth ahead
The Graph (GRT), which was traded at $0.220 at the time of writing, has hovered between $0.222 and $0.201 over the past week. During this time, attempts to overcome resistance were unsuccessful. Thus, the altcoin started testing support. Now, on-chain metrics highlight recovery potential that could push the chart above $0.250. $0.222 also marks the 23.6% Fibonacci Retracement. Therefore, turning this level into support could help the recovery. The target for GRT price is to reclaim $0.266 as the support level, which corresponds to the 38.2% Fib level.
However, if a bottom forms below $0.201, the altcoin is vulnerable to a correction. If the token price drops to $0.151, the bullish thesis may be invalidated.
OP price prediction: Altcoin moves to recover losses!
Optimism (OP), trading at $1.7 at the time of writing, is rebounding from the $1.6 support. The altcoin’s goal is to reclaim $2.0 as a support floor from which it is necessary to break through $1.8. The rise is supported by investors’ bullish sentiment; However, the chances of recovery are slim until $2.0 is secured.
If this fails, the altcoin price could remain consolidated below $1.8 or suppressed below $2.0. Any decline below this line will invalidate the bull thesis and extend losses.
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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