Whale predictions are starting to come in. Here are the predictions for BNB, MATIC, PEPE and others in the altcoin selection. Let’s look at the details.
Forecasts for Binance coin (BNB), Solana (SOL), and Polygon (MATIC)
The past few days have been an important period for some altcoins such as Binance coin (BNB), Solana (SOL), and polygon (MATIC). Over the past 24 hours, these assets have been in the green as investors have moved on to cheaper assets. According to analyst Kaleo, who has 593,000 followers on Twitter, many of these altcoins are gearing up for upcoming rallies.
Kaleo looks at the four-hour chart of altcoin Dogecoin in a message to his followers. Accordingly, he stated that after breaking the diagonal resistance, he signaled that the rise will continue. Dogecoin is currently trading at $0.066654. It is also expected to surge to a significant high once it successfully trades above the $0.072018 resistance level.
Altcoin Pepe and INJ review
The analyst points out that PEPE coin has also crossed the diagonal resistance on the four-hour chart. He also believes that he is preparing for a rally. With rising market sentiment, PEPE is up 2.8 percent in the last 24 hours. Accordingly, it was traded at $0.000002. The asset also rose 5 percent in the last seven days, with a safety score of 59/100. We expect PEPE to break out from here to $0.0000020 for a similar rally to what we saw in mid-June.
Kaleo further critically analyzed MATIC. He predicted that the altcoin could reach $1.00 once it enters the $0.75 support level. MATIC is up 7 percent in the last seven days and has a safety score of 84/100. Despite its seven-day rise, the asset is down 76 percent from its all-time high of $2.9. The analyst also talked about the decentralized derivatives exchange Injective (INJ). According to him, INJ has the potential to reclaim the April high of $9.50. The asset was trading at $8.22 after rising 4.8 percent in the past seven days.
Significant levels for BNB
The last altcoin to be analyzed was Binance Coin (BNB). Kaleo observed that BNB could stage a rally to trade in the $300-$350 range. At the time of writing, altcoin BNB is trading at $239.62. Accordingly, it increased by 1.6 percent in the last seven days. Its current security score is fixed at around 47/100. It was also down 64 percent compared to its all-time high of $686.31.
What levels for Ethereum?
Famous cryptocurrency analyst Benjamin Cowen recently shared an encrypted chart that sparked controversy among his followers. The chart, which looks like an inverted representation of the ETH/BTC rate, made followers think about its importance. Known for his keen crypto analytics, Cowen did not explicitly name the chart in his Twitter post. But he posed a simple question to his followers: “Is this a rise or a fall?” The enigmatic graphic and question has since caused considerable speculation within the community.
The core of the discussion revolves around the interpretation of the ETH/BTC chart. A rising ETH/BTC chart means that Ethereum will appreciate against Bitcoin. In contrast, the bearish chart shows that Bitcoin will outperform Ethereum. From a broader perspective, a bullish ETH/BTC chart could also be indicative of an approaching wave of volatility in the crypto market.
What does it mean?
Over the past weeks, the ETH/BTC chart has shown a bearish trend, which could indicate that Bitcoin is outperforming altcoin Ethereum in the crypto race. However, this trend seems to be flattening out. Accordingly, this will indicate a shifting dynamic between the two potentially leading cryptocurrencies. The intent behind Cowen’s post remains a mystery. However, it has undeniably managed to generate controversy and speculation among crypto enthusiasts.
The ETH/BTC rate has long been seen as an important benchmark in the crypto space. It also provides insight into the relative performance of the two largest cryptocurrencies. In case of a breakout in ETH/BTC, we may see a surge in the cryptocurrency market, especially in the DeFi and NFT sectors. For now, however, the performance of the crypto market is under pressure.
Highlights for Altcoin Solana
Crypto trader Kaleo posted a tweet on Thursday. Accordingly, the altcoin has identified an important resistance line in Solana’s parity against Ethereum. Resistance denotes a level where selling pressure is expected to increase, causing the price to stop further rising.
In Solana’s case, the altcoin is on the verge of breaking above this key resistance, which signals a possible strong rally against Ethereum. According to CoinGecko data, Solana has a market cap of $8.3 billion at the time of this writing. It also has a 24-hour trading volume of $679 million. It is currently trading at $20.69, showing a promising increase of 11.0%.
Altcoin Shiba Inu expectations
Dogecoin (DOGE) rival altcoin Shiba Inu (SHIB) has been performing poorly lately. But the meme coin will still have a positive future, according to crypto analytics firm Santiment. Santiment states that the Shiba Inu network has suddenly seen a huge surge in activity. Accordingly, he says that this indicates a possible upward movement.
cryptocoin.com Overall, SHIB was among the top tokens on Wednesday, based on the amount of transaction fees, according to Santiment. Other promising indicators for altcoin SHIB include the massive flooding of token holders and declining supply on crypto exchanges. At this point, Santiment said, “A closer look at the underlying trends seems to be a positive aspect of this development for the Shiba Inu. Factors include the growth of the network, the complete flooding of lost profits on the network, and the dwindling supply of altcoin SHIB on exchanges.” says.
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