Kaleo, a widely followed crypto whale, points to new gains in the altcoin market. His predictions also found support from several analysts.
Kaleo believes the altcoin market is ready for a parabolic surge
Kaleo was right in his predictions earlier this year when the BTC price was bottoming out. In his current analysis, he says that Dogecoin (DOGE) could rally after breaking a critical resistance. His predictions were based on the superior performance of DOGE price against BTC and USD. According to Kaleo, this momentum could send Dogecoin to a date seen in 2022, marking the end of the crypto bull market.
On the technical chart, the analyst shows that Dogecoin will experience a steep rise above $0.16. This move will potentially push the price up more than 130% from the current $0.069. Kaleo also noted that Dogecoin has also broken its long-term cross resistance in the Bitcoin (DOGE/BTC) pair. He shared this break with an enthusiastic tweet on Twitter.
“We can revisit $26,000 in Bitcoin”
On the other hand, he said that $30,000 for Bitcoin should now be left behind. According to Kaleo, “The longer we stay in the $30,000 range, the less likely it is for a higher spike. I’ve seen a few tweets about the US Department of Justice selling BTC. If we do, we would love another opportunity to drop to the 200 daily EMA (exponential moving average).”
According to Kaleo’s chart, we could revisit the $26,000 price level before Bitcoin regains its current trading range.
Kaleo is not the only one, other analysts are seeing a rise in different coins
Another technical analyst, Tolberti, put forward a bullish perspective for the price action of XRP. Tolberti suggests that the XRP market may experience an increase of 83-350 percent following the recent boom.
“Another 83% increase is likely to reach 1.3244 in the coming days or weeks,” the analysis said. This target is important as it aligns with the 0.618 Fibonacci retracement level of the previous major wave. Additionally, a trendline stretching from 2018 to 2021 acts as dynamic resistance but overlaps with the stated Fibonacci level,” he wrote.
However, he also notes that given the increased volatility associated with XRP, it may take several months for this bullish outlook to materialise.
Michaël van de Poppe gave optimistic forecasts for these 3 altcoins
Elsewhere, popular crypto analyst Van de Poppe shared that he expects bulls for XRP, LINK and MATIC. The famous analyst, who first focused on XRP, envisions a potential downside adjustment to around $0.65. However, he predicts that this correction will set the stage for bullishness, with XRP surging to $0.90 later.
The XRP price gained 90% in one day after the victory of July 13. It is currently trading at $0.7598 after a moderate correction. Poppe expects $0.65, then $0.90.
Chainlink (LINK)
Poppe, who later switched to Chainlink, predicts an impressive increase. The altcoin, which has regained its support at $ 6, is ready for a significant increase if it maintains its position above this threshold.
Polygon was last on Poppe’s radar. Van de Poppe’s forecasts suggest that MATIC could face a short-term drop to around $0.75 before starting its next rise. MATIC is currently trading slightly lower at $0.7544.
Maker (MKR) price signals green
Analyst David of Azcoinnews has set long-term technical levels for the MKR price. Price-wise, MKR broke above a long-term pattern during the week of July 3-10. He later approved this place as support. According to the analyst, this indicates that the correction phase is complete and MKR price may have started a new uptrend.
If this is the case, it could rally to the next long-term resistance level at $1,600, which represents an increase of over 70% from the current price. Breaking the long-term resistance line on the weekly RSI above 50 supports this possibility.
cryptocoin.com As we reported, MKR gained 8% over the weekend with the million-dollar investment of the founder.
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