The cryptocurrency market has gained new momentum and is now struggling to maintain it. In this positive environment, bullish predictions are coming from analysts. In particular, three analysts expect strong rises for 3 altcoins.
Altcoin Sherpa: DYM will go much higher!
cryptokoin.comAs you followed from Dymension launched its mainnet earlier this week. It has seen an increase of over 90% from the price of $3.95 recorded on February 6. Although the token has fallen from its peak, the analyst nicknamed Altcoin Sherpa predicts further rise. The analyst says he expects the native token of modular Blockchain Dymension (DYM) to “move much higher.” Modular Blockchains are decentralized networks that are considered relatively more scalable and flexible than regular Blockchains as they consist of separate layers that perform specific functions.
According to Altcoin Sherpa, “any significant pullback” by DYM would be an entry opportunity. According to his chart, the analyst sees $6.32 as an important previous resistance level that will potentially turn into a support zone.
Ali Martinez predicts a 30% rise for Cardano
Crypto analyst Ali Martinez says the price of ADA will rise based on the descending triangle chart pattern. A descending triangle is generally considered a bearish signal as a continuation pattern in an established bear trend. However, a break in the opposite direction, which is a reversal formation, indicates an uptrend. ADA is currently trading at $0.534. Martinez predicts that Cardano will likely rise as high as $0.68 once it starts moving upwards. In this context, the analyst makes the following statement.
Cardano is showing signs of a descending triangle formation on its daily chart. A continuation of the daily close above $0.53 could lead to the start of a 32% rally. Additionally, it could potentially push ADA to $0.68!
Egrag Crypto set the target for XRP at $1.3!
Analyst Egrag Crypto has spotted a developing bullish pattern for XRP. According to the analyst, the “Green ‘W’ Pattern” emerging on XRP attracts attention by offering both probability and reliability. However, he notes in his presentation that the completion of the second part of the ‘W’ Pattern could exhibit characteristics of a steep or gradual rally, as indicated by the green and blue dotted patterns.
Egrag Crypto gives two bullish scenarios for XRP price prediction. He divides these into ‘Logarithmic’ and ‘Non-logarithmic’ metrical movements. According to the analyst, the first target of the logarithmically measured movement is $1.25. However, with significant momentum, it is possible for XRP to move higher and reach a secondary target of $1.30. Egrag states that if the second situation occurs, XRP’s price targets will be lower. XRP projects a starting level of $1 that will extend to $1.10 depending on price momentum and other market-related factors.
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