Crypto analyst David predicts an increase of over 50 percent for the popular AI coin FET. Analyst Lockridge Okoth expects a run of up to 35 percent for AVAX. Analyst Akash Girimath says that the FLOW price is on the verge of a 55 percent break. We have compiled analysts’ price predictions and evaluations for these 3 altcoins for our readers.
FET price forecast: A gain of over 50% is possible in the near future!
Fetch.ai (FET) price has been rising rapidly since recovering from the key $0.18 support zone during the week of October 16-22, 2023 (green arrow). This move helped the price surpass the long-term resistance zone at $0.53. Thus, the altcoin reached a new yearly high of $0.79 in the last week of 2023. This confirms that FET price is in a long-term uptrend. Also, it is a very bullish development as it creates a higher high.
As a matter of fact, last week FET price formed a bullish engulfing formation (green ellipse) after bouncing off the previous resistance zone at $0.53. This formation was formed when the bearish candle from two weeks ago was completely closed by the bullish candle from last week. It also signaled a strong reversal for the bulls. Meanwhile, the weekly RSI is above 50 and sloping upwards. Therefore, this supports the continuation of the bull trend. Therefore, FET price is likely to continue rising towards the next important resistance zone at $1. This target corresponds to a 50.22% increase from the current price.
The most likely scenario shows that the FET price will continue to rise in the coming days. The nearest target is $0.79. Additionally, the altcoin price has the potential to reach $1. This bullish view will be invalidated if the price falls below the $0.53 zone on the weekly time frame.
AVAX price prediction: Altcoin price outlook is bullish
Amid the enthusiasm surrounding the AVAX Durango upgrade, Avalanche price is trading above the 50% retracement level at $38.64. The current price, measured between $28.03 and $49.95, is above the middle line of this market range with strong downward support.
Simple Moving Averages (SMA) are also sloping towards the north. This suggests that this is the path of least resistance. The Relative Strength Index (RSI) is also headed north. It also indicates rising momentum after breaking above the signal line (yellow band). The RSI’s position at 65 also indicates that there is more room to the north for AVAX. Increased buying pressure could see the altcoin price rise 20% to fill the market range at $49.95. In case of a strong uptrend, gains are possible to reach $54.92. This would represent a 35% rise above current levels.
On the other hand, if traders cash out their gains so far, Avalanche price could decline below the 50% Fibonacci to test the $32.08 support. In a dire case, the decline is likely to send the AVAX price into the bullish supply zone between $26.56 and $29.34.
FLOW price prediction: Price is approaching a breakout!
Flow (FLOW) price dropped below the $0.93 support level on April 19, 2023. The altcoin has been trading below this level ever since. This led to a cup and handle (C&H) setup. This technical pattern involves a rounded bottom followed by a minor consolidation below a horizontal resistance level.
For the altcoin price, eight months of consolidation below $0.93 formed the round bottom. Immediately afterwards, the consolidation that occurs in the form of a falling wedge holds. The breakout from the falling wedge initiated a bounce that quickly approached the $0.93 breakout level. The FLOW technical pattern predicts a 55% rally to $1.44, which is achieved by adding the distance between the horizontal resistance level and the bottom of the rounded bottom to the $0.93 breakout point.
The optimistic outlook for Flow price depends on a successful breakout. However, investors need to pay close attention to $0.93. Rejection of this level would likely cause FLOW to spiral downward. Under these conditions, if the altcoin price produces a three-day candlestick below $0.69, it will form a lower low and invalidate the bullish thesis. Following this development, the Flow price is likely to drop by 10%. Thus, it revisits the January 1 low of $0.62.
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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