Crypto analyst Victor Olanrewaju talks about a possible 20 percent rally for SUI. Analyst Yashu Gola sees a 35 percent rally on the horizon for the leading altcoin. Analyst Ibrahim Ajibade expects a strong move from the popular meme coin Shiba Inu.
SUI price forecastini: 20% increase possible for altcoin from here!
Currently the price of SUI is $1.92. The altcoin is 12% away from reaching its all-time high. On October 4, SUI initially fell to $1.66 after indicating it was poised to reach $2. This development erased hopes that SUI would break the threshold again. However, in the current situation, the token may be set to break above the zone. One reason for this prediction is the Exponential Moving Average (EMA). EMA pays great attention to recent price movements to determine the next trend. Usually, when the price is below the EMA, the trend is bearish. But when it is above, the altcoin price trend becomes bullish. At the time of writing, SUI’s price is above both the 20 EMA (blue) and the 50 EMA (yellow).
If this situation remains the same, the price of SUI could surpass its all-time high of $2.18 and potentially reach a 20% increase to $2.30. However, it is possible for this rally to stall if token holders start taking profits before it reaches $2. In this scenario, the altcoin price is likely to drop to $1.66.
ETH price prediction: Breakout of the ascending triangle is near for the leading altcoin!
Ether’s price has recovered over 9% after falling below $2,400 in early October. This decline was driven by increasing conflicts in the Middle East. Stronger-than-expected US payroll data and China’s stimulus measures increased the market’s risk appetite. Thus, it led to gains in crypto and stock markets around the world. At the same time, Ether is painting what appears to be a classic bullish reversal pattern called an ascending triangle. As of October 7, ETH is consolidating just below the $2,630-2,650 resistance zone. Additionally, buyers are increasingly stepping in at higher levels.
This ascending trend line reflects increasing buying pressure, which often heralds an explosive upward move. Additionally, the daily relative strength index (RSI) rising in the 30-70 neutral zone is improving the bullish outlook. If ETH breaks above the key resistance at $2,650, the pattern’s projected upside target will expand towards the $3,390-$3,400 range, measured by adding the maximum distance between the upper and lower trend lines of the triangle to the breakout point. This represents a 35% jump from current levels.
Conversely, breaking below the lower trend line risks invalidating the bullish outlook. Moreover, it instead exposes the altcoin price to the $2,000-$2,100 price range for a downside move towards the December 2023 – January 2024 support targets.
SHIB price prediction: $0.00002200 is on the cards!
Shiba Inu’s recent price action shows solid bullish momentum, as evidenced by technical indicators and chart formations. Currently, SHIB is trading around $0.00001843 after a 20% rise in the last four days. This indicates strong bullish sentiment. The Relative Strength Index (RSI) value is 63.11, indicating that SHIB is approaching the overbought zone. But he emphasizes that it still has room to rise further before reaching any critical exhaustion point.
The first significant altcoin price support level lies around $0.00001600, a level that previously provided a solid base during the recent decline. The second support lies at $0.00001528, a longer-term support coinciding with the September lows and the Chande Kroll Stop (CKS) line on the chart. On the resistance side, the primary level to watch is $0.00002028, which represents a significant psychological barrier for SHIB. Breaking this level could signal another leg up in the bullish cycle. Thus, SHIB could potentially target the second resistance at $0.00002200.
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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