Three Analysts Expect a Drop for These 3 Altcoins on Turks’ Radar!

Crypto analyst David predicts that AVAX price will dive a little lower. Analyst Tiago Amaral predicts that the LINK price will slide slightly lower. Analyst Lockridge Okoth expects further declines for FTM. We have compiled analysts’ predictions for these 3 altcoins for our readers.

AVAX Price prediction: There is a decline in the near future for the altcoin!

Avalanche (AVAX) price broke above the important resistance zone of $55 during the week of March 11-17, 2024. This move signals a continuation of the previous uptrend, with a potential target of $100. However, the altcoin price fell below the $55 zone this week. Therefore, the upward momentum could not be sustained. This indicates a false breakout and is usually followed by sharp declines.

The weekly RSI indicator created a significant bearish divergence (red line) and broke below the 70 level. Thus, it signaled that the bears had regained control. Therefore, AVAX price is likely to continue falling towards the 20-week EMA at $39, where it provided support during the previous decline (blue arrow). This figure corresponds to a decrease of 16.12% from the current price level.

AVAX/USDT weekly chart. Source: TradingView

The most likely expectation is that the AVAX price will continue to fall in the near future. The immediate target for the altcoin is the 20-week EMA line at $39. There is also a chance that AVAX will drop lower to $35. The bearish view will be invalidated if AVAX price closes the weekly candle above the $55 zone once again.

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LINK Price Prediction: Heading below $16?

A ‘death cross’ formed on LINK’s 4-hour price chart on April 1. This indicates a potential downtrend. A ‘Death cross’ occurs when a shorter-term Exponential Moving Average (EMA) crosses below a longer-term EMA. Additionally, it often signals a transition from a bullish to a bearish trend. EMAs, which emphasize recent price data more than simple moving averages (SMAs), respond quickly to price changes.

In LINK’s case, the increasing gap between the EMA lines after the ‘death cross’ indicates an increasing bearish momentum. It is possible that this gap, reflecting a stronger seller presence in the market, could push prices down. If LINK fails the $17.3 support level, it is likely to drop as low as $16.2.

Chainlink price chart. Source: TradingView.

Conversely, if an uptrend begins, LINK’s price could recover and break through the resistance levels, reaching $20.7. In this case, it is even possible for it to rise to the $22 region.

FTM price prediction: A healthy 25% decline is likely for the altcoin!

Phantom price fell nearly 30% after it rejected the $1.2350 resistance. The bold bull trend was cut short as the breakout proved premature. Amidst an ongoing retracement, the altcoin price is likely to drop 25% to $0.6467 before the bulls attack FTM again.

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Multiple technical indicators are showing declining buyer momentum. These indicators support the possibility of further downside momentum, starting with the Relative Strength Index (RSI). Meanwhile, the volume indicator is also in the red. Therefore, this is also a sign of increasing downtrend. If the $0.6467 support fails, it is possible for Phantom price to test the supply zone (turned into a bullish breaker) extending from the $0.4597 low to $0.6081 low. A break and close below the midline at $0.5346 would indicate continuation of the downtrend. Moreover, it is likely to confirm a decline below the psychological $0.4000 level.

FTM/USDT 3-day chart

Based on the RSI’s position above 50 and the positive Awesome Oscillator (AO) histograms, FTM bulls still have a play on the market. If this group of traders buys the correction at rates around $0.8000, an early recovery rally from the addition is possible. A decisive candlestick close above $1.2350 on the three-day timeframe will invalidate the short-term bearish thesis.

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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