Crypto analyst David predicts an explosive rise for small-cap altcoin EGC. Analyst Akash Girimath, on the other hand, predicts a strong run for SUSHI. The analyst also expects an upward move for LTC.
EGC price prediction: Altcoin may rise sharply in the near future!
The price of Egoras Credit (EGC) declined (red arrow) after being rejected by the long-term resistance at $30 during the week of January 8-14, 2024. This move brought the price back to the previous resistance zone of $8.5, which was expected to provide support. Indeed, the EGC price has remained above this zone for the last 9 weeks. This indicated that the bulls were buying at the breakout levels. This is also a common occurrence following a fracture. It usually leads to a continuation of the previous uptrend.
Meanwhile, the weekly RSI indicator rose from the previous week’s 50 level (green arrow), supporting recovery potential. Therefore, it is possible that EGC price rises to the key resistance zone at $30 in the near future. This figure represents an increase of 198.87% from the current price level. A break above this zone would mark the end of the long-term downtrend. Then, the altcoin price is likely to rise to the $80 resistance zone, up 716%.
The most likely outlook shows that Egoras Credit (EGC) price will continue to rise in the near future. The nearest target is $19, and above that there are $30 and $80. The bullish perspective will be invalidated if the altcoin price closes a weekly candle below the $8.5 zone.
SUSHI price prediction: Token price is poised for a 70% rise
It took eight weeks for Sushi Swap (SUSHI) prices to consolidate above $1,012. This led to a 109% rise over the next five weeks. This move cleared another critical hurdle at $1,628 and is currently trading above it. However, investors need to be careful as the Bitcoin price shows weakness. If BTC continues to move sideways or rise, it is possible for the altcoin price to start a bull trend. The Relative Strength Index (RSI) is around the 70 level. Therefore, this supports the bullish outlook.
This move will cause the RSI to reset to the 50 average level. Therefore, a potential correction to the intermediate support level at $1,267 is possible. Therefore, a bounce around $1,267 or $1,628 would be good accumulation zones for patient SUSHI buyers. Assuming the altcoin price bounces from its current position, a retest of the $2,785 resistance level would open up a 70% gain.
On the other hand, if SUSHI price breaks the $1,267 intermediate support level, it would indicate weakness. If selling pressure continues to increase, SUSHI is likely to slide lower. In this case, it is possible to see the $ 1,012 barrier. Breaking this level will create a lower low and invalidate the bullish thesis for SUSHI. In such a case, SUSHI price would face a risk of a 22% correction in the weekly imbalance from $0.792 to $0.642.
LTC price prediction: Altcoin could start a 32% rise!
Litecoin (LTC) price has formed three lower highs since March 2022. Thus, the token is currently trending below the trend line connecting these swing points. LTC is also trading below the $100 psychological level. This makes these two obstacles very important. The Relative Strength Index (RSI) and Awesome Oscillator (AO) momentum indicators are both above their respective average levels of 50 and 0 respectively. This indicates a market dominated by buyers.
Therefore, if Litecoin price continues its bullish momentum and overcomes the confluence resistance level at $100, it could signal sidelined buyers to step in and potentially start a breakout rally. The weekly ceiling of $119.84 will be the target for some of these buyers to potentially book profits. This move in the altcoin price would mean a 32% upside from the current position.
On the contrary, Litecoin’s bullish view would be invalidated if Bitcoin triggers a steep correction. In such a situation. Litecoin price is likely to revisit the $75.78 support base. Breaking this level will create a lower low and invalidate the bullish thesis. With such a development, LTC is likely to tag $53.83. This would mean a drop of approximately 30% from its current price of $75.78.
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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