Crypto analyst David says TrueFi will post significant gains in the near future. According to analyst Akashnath S., MATIC is showing a strong bullish trend. We have compiled analysts’ analyzes and predictions of two altcoins for our readers.
TRU price prediction: Over 100% increase possible for the altcoin!
TrueFi (TRU) price reached a yearly high of $0.145 in mid-March 2023. However, it has been in decline ever since. This downward move brought the price into a long-term support zone at $0.027 on August 15. It also marked a 100% pullback from the strong rally at the beginning of the year. The altcoin price has since recovered, forming a potential double bottom formation. This is a bullish pattern and usually leads to a trend reversal to the upside.
Additionally, the weekly RSI (Relative Strength Index) has formed a significant bullish divergence. Moreover, the indicator broke above the 50 level. Both are bullish signals. They also support the potential for continued upward movement. If TRU price continues to rise, the altcoin could reach the 0.5-0.618 Fibonacci retracement resistance zone at $0.086-0.1. This means a maximum increase of 111.5% from the current price level.
The most likely scenario indicates that TrueFi (TRU) price will continue to rise in the near future. The nearest target is $0.06. However, the altcoin price has a higher potential to reach the $0.086 – $0.1 region.
MATIC price prediction: Can it rise above $1?
cryptokoin.comAs you follow from Polygon (MATIC) has seen an increase in whale activity in recent weeks. The market value rose along with the prices and the accumulation became evident. Indicators on the higher time frame charts also firmly supported the buyers. A retreat from resistance levels below the psychological level of $1 is possible. A retest of a key higher time frame support level could offer bulls another opportunity to move higher.
MATIC’s one-day market structure has been bullish since October 22. Not only was the range (yellow) breached convincingly, but the altcoin consolidated below the $0.637 resistance before another rally in November. The RSI has been hovering above neutral 50 since mid-October. It also reflects the structure as well as intense upward momentum at press time. On-Balance Volume has also increased significantly in the past month as buying volume has been stable.
The next high timeframe resistance levels lie at $0.89 and $0.97. If MATIC is rejected at $0.89, a drop to the $0.75-$0.8 region is possible. This will likely present a good risk-reward buying opportunity targeting $1 and above. A jump in these two metrics means owners have some reason to worry.
Meanwhile, development activity has been going strong for the last six months. This is a factor that will inspire investor confidence. However, the big jump in dormant circulation on November 9th coincided with MATIC’s small drop from $0.862 to $0.812.
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