Crypto analyst David says ABR has promising potential. The analyst also predicts that BNB will make a 30 percent move. The popular analyst nicknamed Pentoshi expects strong performance from the leading altcoin Ethereum. Analyst Ibrahim Ajibade predicts that the ADA price will make a jump.
ARB price prediction: Altcoin has promising potential
Arbitrum (ARB) price has formed an inverse head and shoulders pattern since May 2023. This is a bullish pattern that leads to breakouts in most cases. Indeed, after forming the right shoulder bottom during the week of November 20-26, the altcoin price is attempting to break above the neckline of the formation this week. The neckline of the formation is at $1.25. Now, it needs to close the weekly candle above this level to confirm the breakout.
If successful, it is possible for the ARB price to rise to $1.76, which is the target of the formation. This target is aligned with the resistance zone at the all-time high. Meanwhile, the weekly RSI has bounced back from the 50 levels. It is also sloping upwards, supporting a potential breakout. These also support the bullish view.
BNB price prediction: It is poised to increase by around 30% in the near future!
BNB price has been trading above the horizontal support zone at $220 since April 2021. This zone has repeatedly provided support, reinforcing its importance in determining BNB’s long-term trend. During the week of August 14-22, 2023, the altcoin price fell below this zone, signaling a potential sell. However, instead of doing so, BNB price retook the $220 zone. Also confirmed as support at the end of November (green arrow). This shows that the previous crash was just an aberration (red ellipse) and is usually followed by a sharp rally.
As a matter of fact, the price rose last week and formed a large bullish candle. Meanwhile, the weekly RSI is above 50 and sloping upwards. This supports greater earning potential. Therefore, it is possible that BNB continues to rise towards the next important resistance zone at $330. This figure represents an increase of 26.32% from the current price.
ETH price prediction: Nearly 50% increase is on the horizon for the altcoin!
The analyst with the pseudonym Pentoshi says the potential approval of spot Ethereum ETFs next year will likely give ETH a much-needed shot in the arm. cryptokoin.comAs you follow from , earlier this year, several asset management firms, including BlackRock, Fidelity, and Hashdex, filed applications for spot-based Ethereum ETFs with the US Securities and Exchange Commission (SEC). Pentoshi says Ethereum will likely create bullish momentum as market participants await the event. In this context, the analyst makes the following statement for the leading altcoin:
We have been bullish on the BTC ETF since $25,000-$28,000. Soon, in 2024, we will do all this again with the ETH ETF. It doesn’t matter what you believe. This is all game theory. As the date approaches, people will be less willing to sell. Additionally, others will feel the need to buy. There’s 2.7xx and $3,400 on the table.
ADA price prediction: Will the altcoin make a move to $0.70 this week?
Considering precedents in recent weeks, the consistent increase in the ADA Funding Rate over the weekend could herald a price breakout towards $0.70. However, historical buying/selling trends suggest that the $0.62 area is currently forming significant resistance. In/Out of the Money Around Price (IOMAP) data also shows this. This data groups existing Cardano holders based on their entry price.
It shows 62,360 current holders will breakeven at $0.60 to $0.63. If these holders want to take some profit, it is possible for them to push the altcoin price in the short term. However, if derivative traders support their bullish positions with some spot buying, ADA will likely gain enough momentum to break this resistance. Thus, it will move towards $0.70, in line with the predictions.
On the downside, the bulls are counting on the $0.58 area for major support. It is possible that 63,370 holders who purchased 946,720 ADA at a minimum price of $0.59 will provide significant support. This is likely to prevent major declines in the short term.
The opinions and predictions in the article belong to the analysts and are definitely not investment advice. We strongly recommend that you do your own research before investing.
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