The Party Is Not Over! These 5 Altcoins on Binance Could Make a Sudden Exit!

According to crypto analyst Filip L, Ripple’s party is not over yet, as this entry level could still yield 40% gains going forward. The analyst says MultiversX is doing well and expects a 15% rise in the altcoin price. Also, according to the analyst, Dogecoin will bounce in the bull trend and DOGE will rally by 25%. Analyst Lockridge Okoth says the Shiba Inu could rise 15% by the end of the week. Analyst Akash Girimath thinks Polkadot sets an example for a 40% rally.

This altcoin could surpass 100% price increase

Ripple price has been on the decline for the past few days as it will end with a spectacular performance not just this week but the whole month. Although there are some levels to consider, it’s a little late and risky to follow that rally now. These levels offer a window of opportunity to step back in and sit tight for this slingshot towards $0.73.

XRP made its first test in search of support under pressure from the drop near $0.5230. This level held very firmly in the ASIA PAC test earlier on Thursday. A retest of $0.5852 to clear another high is likely by the US trading session. If $0.5231 fails to hold, $0.48 is definitely a perfect candidate to buy the dip and still aim for the upside $0.73.

XRP 4-hour chart

Experienced traders will be aware of a possible pumping and dumping as the XRP price shows signs of a classic buy-rumor-sell-truth segment. Price action has progressed so far relative to the likely outcome that the end result itself may only be a disappointment due to heavy selling as a result. Expect a quick retrace of gains and altcoin price action to quickly return to $0.40 at a more moderate price level.

MultiversX moves forward in PBOC financial support

MultiversX, which is already up over 3% for this Wednesday, has seen the bulls come in hard and buy everything in sight. The only caveat to note here is that both the 55-day and 200-day Simple Moving Average (SMA) are around $46. Once there, it seems clear where the bulls will want to take the EGLD price.

EGLD is set for a test on the red descending trendline that has been acting as a boundary since November last year. With not a lot of testing along the way, it might be a clean break in the cards. Whether the trendline is broken or not, just one test means a 15% gain on the trading book for the bulls.

EGLD 4-hour chart

With no evidence or any message that other central banks are committed to doing the same as the PBOC did this morning, there is a greater risk that bulls will need to detox quickly from this sugar rush. Once the dust has settled, a reduction in profit-taking pressure will begin and will see EGLD quickly return to $41. If the bears use this opportunity to go full scale, the price could drop another $3 from the price to $38 with a test at the green ascending trendline.

This altcoin is raising the bull wave about

Dogecoin price is in tears this Wednesday after the upbeat surprise adjustment of the ASIA PAC session that was very supportive for stocks and cryptocurrencies. The People’s Bank of China, the People’s Bank of China, is reopening its wallet to provide financial support to companies. cryptocoin.comAs you follow, this allowed the highest performance of almost all crypto assets.

DOGE sees the recovery at a crucial time as the 55-day Simple Moving Average (SMA) falls below the 200-day SMA, flirting with a ‘Dead Cross’. This higher boost can be vital for dissolving the cross and transforming it into a ‘Golden Cross’ instead. This means DOGE could go as high as $0.10 for a 23% gain.

DOGE 4-hour chart

The downside risk, of course, is the re-engagement of the bearish trend in the US session. Expect to see a drop with the US opening bell as price action drops below $0.076. While the monthly S1 support at $0.0726 is sufficient, there could be a minor drop towards $0.0700.

Growth path for Shiba Inu

The altcoin price is up over 3% in the last 24 hours and is changing hands at $0.00001068 at the time of this writing. If investors’ interest in the meme token continues, SHIB could rise to break the immediate hurdle at $0.00001110. An increase in buying pressure above this level may require the altcoin price to test the 100-day EMA and the Exponential Moving Averages (EMA) starting at $0.00001112 before encountering the 50- and 200-day EMAs of $0.00001118 and $0.00001147, respectively.

Beyond these supplier congestion zones, SHIB price could tag $0.00001200, which represents a 12.8% increase from the current level. In extremely bullish situations, the coin could rally towards the $0.00001350 resistance or return to the February highs of $0.00001429. One glimmer of hope for Shiba Inu price is that the Relative Strength Index (RSI) indicator is promising with a price strength of 46 close to the average line.

SHIB 1-day chart

Conversely, if the buying momentum declines, the bears could rally the market and cause the altcoin price to drop below the immediate support of $0.00001010. A daily candlestick below this level will invalidate the bullish argument. In the dire situation, SHIB could drop psychologically to $0.00000900 or worse, to $0.00000805, the December low, creating a 25% drop from current levels.

This altcoin shows positive outlook for its holders

Polkadot price on the daily chart shows that the $6.36-8.78 range formed in mid-June 2022 is crucial. A close observation reveals that this range has had clearly defined breaks in the past. From a long-term perspective for the DOT, traders can expect a retest of the midpoint of the range at $7.57. A definitive reversal of this hurdle on the daily timeframe could pave the way for the altcoin price to tag the range to $8.78. This move represents an overall rise of 38%.

DOT 1-day chart

A four-hour chart shows that traders could benefit from a much smaller rally for the DOT price. Interested investors can accumulate DOT at the current level and gain acceptance above the lower level of the long-term range at $6.36.

A successful move allows the DOT to trigger a rapid rise and tag the 62% retracement level of the 35% slump witnessed between February and March 2023. This move represents a 10.6% gain for traders. In some cases, the altcoin price may retest the 70.5% retracement level at $7.08, bringing the overall gain to 14.4%.

DOT 4-hour chart

Supporting this bullish outlook for altcoin price is the Development Event, which hit an all-time high of 358.57 on March 21. This index tracks the pure development-related activities of the DOT developers on the project’s public GitHub. This increase from 117.14 on January 8 indicates that the developers are working on improving the project. Oftentimes, investors see this index as one of the signs before they buy the project’s base token. A project overflowing with developer activity indicates a safe investment, and the spike in development activity supports the bullish outlook for the underlying token.

DOT development activity

While the bullish outlook for DOT price is clear, traders should note that the override level is at $5.75. If this support structure turns into a resistance barrier, it will attract sellers and potentially trigger a 5% drop to $5.47.

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