Crypto analyst David says the OP price is threatened with a decline of around 50 percent. The analyst nicknamed DonAlt talks about the possibility of collapse for a meme coin. We have compiled analysts’ predictions for these 2 altcoins for our readers.
OP price prediction: Altcoin has a risk of falling by about 50%!
Since May 2022, Optimism (OP) price has been trading in a widening wedge. It tested both the support and resistance lines of the wedge several times, confirming the validity of the pattern. OP price fell to a critical $3 support area after being rejected by the formation’s resistance line once again (red arrow) during the week of March 11-17, 2024. This is the formation’s last major support area before the long-term support line at $1.6.
The weekly RSI indicator invalidated an earlier bullish divergence (blue line) last week. Accordingly, a downward trend indicates a decline. A bullish signal invalidation usually leads to a bull trap. This is then usually followed by significant declines. If there is a breakout, the altcoin price could decline to $1.6, which is the support line of the long-term formation. This corresponds to a 47.28% decrease from OP’s current price.
Optimism is in a very critical price zone ($3) that could trigger a strong sell-off if crossed. Currently, the medium-term trend is downwards. However, it is possible for the altcoin price to recover to the nearest horizontal resistance area at $3.4 before making any decisive moves.
WIF price prediction: Below this level would be a disaster!
cryptokoin.comAs you follow from , meme coin dogwifhat (WIF) fascinated everyone with its performance. However, an analyst with the pseudonym DonAlt is warning about WIF. The analyst says that if WIF cannot hold $3 as support, its value will drop significantly. In this context, the analyst makes the following statement:
If Dogecoin goes up, maybe WIF goes up too, so you can make up your own mind, but I think a close below $3 would be pretty disastrous. So if you’re bullish on WIF, it’s trading just above $3, but if it starts trading below $3, I think that would be a big shift in momentum.
However, the analyst says that if WIF falls below $3, there is a possibility that it will rise above $4.50 in the longer term or hover around $3 for a while. He expresses his views on this subject as follows:
If you start selling at $3 and it does that, you might be upset because there’s a chance it could do that and then go on another run. But then you basically close below $3 and reopen above and then there’s a chance it could cut you a bunch. But if you really want to trade these things it goes like this.
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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