Crypto analyst Valdrin Tahiri expects a 40 percent move from ADA. Analyst nicknamed The Flow Horse says CELO is on the verge of a major breakout. Popular analyst Ali Martinez expects a rally for XRP. We have compiled analysts’ predictions for these 3 altcoins for our readers.
ADA price prediction: Will the altcoin sustain the breakout?
Cardano’s (ADA) price movements on the Daily time frame are in line with the weekly price movements. ADA price broke out of a descending resistance line on February 8. Thus, it reached $0.64 on February 20. The altcoin price has fallen since then. However, it is still trading within the horizontal support at $0.58.
Additionally, the daily time frame wave count predicts that the upward move will continue. Technical analysts use Elliott Wave theory to identify recurring long-term price patterns and investor psychology. This helps them determine the direction of a trend. The most likely count has ADA in the fifth and final wave of an uptrend. If the count is correct, the ADA price will likely rise another 40%. Thus, it will reach the next resistance at $0.82, completing the fifth wave. It will probably experience a correction later.
Despite the bullish ADA price forecast, a close below $0.58 will deepen the short-term correction. Then, ADA is likely to drop another 10% to the next closest support at $0.52. It is worth noting that this will not invalidate the long-term bullish calculus, but will only delay the fifth wave rise.
CELO price prediction: On the verge of a big breakout!
The analyst, nicknamed The Flow Horse, says he expects movements in the Ethereum layer-2 subsector in general. The analyst specifically calls the native presence of Celo (CELO), a crypto project that has become an ETH scaling solution, as an altcoin that could witness a major breakout. In this context, the analyst makes the following statement:
We expect to see some love for the ETH layer-2 group. There is a well-known pair close to the musical instrument that is breaking out of its monthly accumulation range. I am accumulating a position… I bought spot CELO.
Based on its chart, the analyst suggests that CELO may have carved out a bear market bottom and is ready to begin an uptrend. Meanwhile, at the time of writing, CELO was trading at $0.9166, up about 1.2% in the last 24 hours. The altcoin increased by approximately 16% on its weekly chart.
XRP price prediction: Is the altcoin ready to break above $0.60?
According to analyst Ali Martinez, Ripple (XRP) may be heading towards $0.63 or rising as high as $0.65. However, the analyst’s opinion is not without reason. In his post, the analyst says that the observation from Tom DeMark (TD) Sequential is the basis for his prediction. Despite the optimistic forecast, Martinez notes that there is a condition attached to it. According to him, XRP needs to close above $0.57 to confirm the prediction. In this context, the analyst shares the following statement:
The TD Sequential indicator has issued a buy signal on the weekly XRP chart, indicating potential bullish momentum. If XRP establishes a sustained weekly close above $0.57, this could be the catalyst for it to rise to $0.63 or even higher to $0.65.
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.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!