Crypto analyst David predicts that KAVA price will make a move of over 20 percent. Analyst Valdrin Tahiri expects a strong run from MATIC. Crypto analyst Akash Girimath is bullish on leading altcoin rival Cardano. Analyst Lockridge Okoth says that BNB has a 30 percent increase potential.
KAVA price prediction: Altcoin is positioned to rise!
Kava (KAVA) price has been rising since it bounced out of the long-term support zone at $0.55 on October 16, 2023. During this upward move, the price broke above the $0.74 resistance zone in early November. It also confirmed this as support in the following six weeks. During the week of December 18-24, KAVA price formed a bullish engulfing formation at $0.74 (green arrow). This is a bullish pattern that shows that the bulls have completely taken control of the market.
Meanwhile, the weekly RSI (Relative Strength Index) rose from the 50 level during the formation of the pattern. Also, it tilted upwards. Thus, it supports the possibility of further uptrends. Therefore, KAVA price is likely to continue rising towards the next important resistance at $1.17. This figure corresponds to an increase of 23.39% from the current price level.
MATIC price prediction: What will be its next move?
The daily time frame shows that the altcoin price trend is bullish. This is due to price action and RSI data. Price action shows MATIC breaking out of a symmetrical triangle and horizontal area at $0.95. It was later confirmed as support (green icon). The daily RSI is consistent with the bullish outlook as the indicator has broken out of the bearish trend line (green). If the upward move continues, it is possible for MATIC to reach the next resistance level at $1.55. This means a 55% increase from its current price.
Despite this bullish MATIC price prediction, a close below $0.95 would invalidate the ongoing breakout. If this happens, the altcoin price is likely to drop 25% to the nearest support at $0.75.
ADA price prediction: A 35% rise is possible for the altcoin
Cardano price entered consolidation after forming a local top at $0.647. Since then, ADA attempted to continue the rise by forming a higher high at $0.680. However, the bullish momentum could not support this move. As a result, ADA produced a sideways movement that is currently trading at $0.608.
Regardless, ADA produced a series of higher lows. This shows that buyers insist on buying declines. In the short term, Cardano price could break the uptrend line connecting the higher lows produced since December 8. This move is likely to briefly breach the weekly support level at $0.567. Moreover, it is possible that it may try to sweep equal lows near $0.541. This 11% pullback in the altcoin price is key for sidelined buyers to accumulate ADA at a discount. Additionally, this move will cause short sellers to close their positions. These two events create a large increase in buying pressure, triggering a recovery rally that leads to a retracement of the 12-hour support level at $0.622.
In the event of a fairly high upside, if Cardano price can overcome the $0.600 to $0.650 supply zone, it could continue its rise and attempt to mirror the 55% rally witnessed between December 7-13. As a result, ADA could rally 35% from the $0.567 weekly support level and clear the $0.800 and $0.823 hurdles.
BNB price prediction: Indicators point to a 30% increase
Binance Coin price movements since December 25 have resulted in a flag formation, which is a continuation formation. While the flagpole of the continuation pattern recorded a 29.03% climb from December 25 to December 28, the altcoin price could rise by the same magnitude and reach a market value of $414.70. This setup depends on the BNB price breaking above the upper limit of the flag. This requires increased purchasing pressure.
Various technical indicators support this thesis, starting with the Bollinger Bands indicator. Because BNB price continues to trade above the indicator’s center line (yellow band), which provides solid support at $279.7. This support level is strengthened by the Parabolic Stop and Reversal (SAR), providing an additional layer of support at $301.10. Moreover, both Awesome Oscillator (AO) and Moving Average Convergence Divergence (MACD) indicators are in the positive territory. This adds confidence to the bullish outlook. The MACD remains above the signal line (orange band), indicating that upside potential remains alive.
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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