ETH price broke the $1,900 resistance level for the first time in months, providing some fuel for the altcoin market. It is settling on favorable ground for further gains in high-volume cryptos like LTC and XRP. In this article, you can find 7 technically green-lit coins with their price targets, compiled from current technical analysis.
Ripple price shows signs of 20% gain in the short term
Ripple price broke free last week as volatility rose to new highs and hit $0.5852, a level not seen since May 2022. Subsequently, there was an outright rejection and a massive profit-taking slump. The altcoin crashed pretty quickly to find much-needed support.
On the downside, $0.48 came into play and rose again with a solid rise towards $0.50. As price action is currently close to this level, XRP could be in the opportunity zone as the RSI is trading below 50. FXStreet analyst Philip L. expects upside moves of 20% from current levels.
The downside threat comes as the RSI still has some room to look for this oversold resistance and move lower. It did this all the time in the previous days, before escalating higher afterwards. This setup means that XRP could drop another 15% to $0.42 and eventually meet the oversold and technical pivot level for a higher bounce.
Terra Luna Classic attracts the attention of altcoin investors with its current trend
Terra Luna Classic (LUNC) price is finally moving in a calm environment as traders encounter more stable price action behavior. LUNC sees price action support near $0.00012000. This means some good news for the bulls who dare to participate. In these market conditions, a retest of April highs with gains of 5% and possibly more is certain.
Also, the volatility indicator of Terra Luna Classic price is at a low level as the price movement is steadily moving sideways. Finally, the bulls can enter with some confidence as LUNC seems to have found some stable ground. More interest and input from investors may come as the price action seems to be somewhat supported at $0.00012000.
LUNC traders can start increasing their positions slowly but surely as the price action will slowly start to rise. Ideally, a simple retest of April’s high of $0.00012743 would provide a welcome 5% gain without going into any crazy positions. Even a false break of $0.00013000 could provide a nice 7% gain for this week.
In terms of overall longer-term positioning, there is still a large systemic risk in the USD and stablecoins pegged to it. Trade could get overcrowded and simply turn the other way, as a few banks consider a weak US dollar to be their favorite trade this quarter. A seriously strengthening US Dollar could put pressure on stablecoins and as a result see LUNC approaching $0.00011000.
Litecoin price at turning point: Altcoin bulls target these levels
Litecoin price turned the resistance area between $74.02 and $71.60 to support area on Jan. Since then, its price has risen 40%, briefly surpassed the $96.30 resistance and peaked locally at $105.71 on February 16. The aforementioned support area provided similar momentum to LTC, this time up 42%. The price is currently forming a lower high (LH) at $96.00.
If Litecoin price breaks the $96.30 resistance and turns it into a support base, it could reach $132.60, up 44%, according to technical analyst Akash Girimath.
Traders should keep in mind that this bullish outlook for Litecoin price is dependent on the LTC bulls being able to break through the $96.30 resistance. Failure to do so could result in a tight consolidation or a sharp correction towards the next key support level at $74.02.
On the other hand, if Litecoin price produces a daily candlestick below the $74.02 – $71.60 support area, it will create a lower low (LL) and invalidate the bullish thesis. Such a development could cause LTC to slide 22% to tag $55.23.
Ethereum price climbs above $1,800 as Shapella is fast approaching
Ethereum price climbed above $1,800 on April 3 after sideways price action. The altcoin has gained nearly 2% to its investors since Monday and is gearing up for its next big upgrade, the Shanghai hard fork, also known as Shapella.
Crypto analyst and trader Justin Bennett concluded that the Ethereum price action is poised for a massive rally in the coming weeks. On Twitter, ‘Ritesh’ shared his target of $1,770 for shorts in Ethereum.
The share of liquid staking in the DeFi ecosystem has increased
From the fifth largest category in June 2022 to the second largest category currently, liquid staking has climbed in response to the upcoming hard fork of the Ethereum ecosystem and its events.
Raoul Pal expects rally in leading altcoin
Crypto analyst and expert Raoul Pal recently evaluated Ethereum price action and set the $1,850 target. Pal shared his bullish views on the ETH price.
Several analysts on crypto Twitter share Pal’s bullish approach to Ethereum as it curls up in front of the significant upswing in the altcoin ecosystem. Traders are likely to see temporary selling pressure on Ethereum after the token unlocks, but this is expected to be short-lived.
cryptocoin.com We have included the Shanghai hard fork date and the details of the amount of ETH to be unlocked in this article.
3 meme coins for the April watchlist
On April 3, Billionaire Elon Musk changed the Twitter logo from Bluebird to Dogecoin, pushing the meme coin market back on trend. In this category, analyst Brian Bollinger’s first pick is Dogecoin (DOGE), which has now become the Twitter logo.
On April 3, the Dogecoin price witnessed a massive inflow as investors saw the Twitter logo briefly switch to DOGE. As a result, the meme coin had a massive 21% rally and broke the resistance trendline of a five-month long candle falling wedge.
This breakout is an early sign of a trend reversal that could push DOGE price towards potential targets of $0.11. However, the price is currently trading at $0.096 and the long-term rejection attached to the daily candle indicates that short-term traders are excited.
With continued selling, Dogecoin could drop 12.7% and revisit the breached trendline to check price availability at a higher price.
Shiba Inu (SHIB)
The Shiba Inu price has been in a consolidation phase for the past three weeks stretching from $0.0000106 to $0.0000102. With the rising FUD in the altcoin market, its price is showing higher price rejection candles at the $0.00106 resistance, indicating that sellers continue to defend the higher level and a strong possibility for a sideways trend to continue.
However, the ascending RSI slope reflects a gradual build-up of accumulation strength encouraging buyers to break above the $0.0000106 resistance. A potential bullish breakout from the above-mentioned resistance will unleash the bullish momentum that has built up and could boost prices by 20% to $0.000014.
Floki (FLOKI)
Floki, under the influence of a falling trendline, has witnessed a steady correction for five weeks. However, due to the ripple effect of the Dogecoin price rising rapidly, the Floki price broke the above-mentioned resistance on April 3.
This bullish breakout could signal the resumption of the previous recovery and offer traders an opportunity to enter long. If floki price sustains above the breached trendline, buyers can conduct a 72% higher recovery rally to challenge the $0.00006 neckline resistance of the long-standing cup and handle pattern.
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