Crypto analyst David predicts that the CHZ price will rise 70 percent in the near future. Analyst Lockridge Okoth says that AVAX has the power to move higher. We have compiled analysts’ predictions for these 2 altcoins for our readers.
CHZ price prediction: Altcoin price may increase by over 70%!
Chiliz (CHZ) price has been on the rise since reaching a yearly low of $0.054 in early October 2023. During the rally, it retook the important $0.09 support area during the week of January 22 – January 28, 2024. This movement indicates that the previous breakout (red ellipse) was just a divergence and is usually followed by a strong recovery. Indeed, the altcoin price has increased rapidly since then. Thus, it climbed above the $0.145 resistance area. Last week, the price confirmed this area as support (green arrow). It also marked a shift in sentiment from selling on rallies to buying on dips.
Meanwhile, the weekly RSI has entered the overbought zone and is trending upward. Therefore, this signals that the bulls have complete control over the market. Therefore, CHZ’s price may continue to rise towards the next key resistance area at $0.29, which is 76.67% higher than the current price level.
The most likely scenario shows that the CHZ price will continue to rise in the near future. The nearest target for the altcoin is $0.18 and further upside is $0.29.
AVAX price prediction: Is $70 on the cards now?
Avalanche could climb 10% to the $60 target, which was last tested on May 5, 2022. The token reached an intraday high of $56.57 on Tuesday, surpassing its December 2023 peak of $49.96. Based on the outlook of the Relative Strength Index (RSI), AVAX is currently heavily overbought. However, the momentum is still bullish, with the RSI still rising. This is emphasized by the increasing heights of the volume indicator, which indicates that the dominant trend is strengthening.
The Awesome Oscillator (AO) shows a strong presence of bulls in the AVAX market, represented by green histogram bars that remain in positive territory. In the event of a fairly strong uptrend, it is possible for Avalanche price to tag the $70 milestone. This will be valid in case the bears fail to hold the $60 threshold as resistance.
On the other hand, if traders start cashing in the 15% gains made on Tuesday, things change. In this case, it is possible for the altcoin price to decline below the $49.96 support. However, for the bullish thesis to be invalidated, AVAX price must fall below the 50% Fibonacci retracement level of $41.17 and close below it on the daily time frame.
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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