Crypto analyst Valdrin Tahiri sees bullish potential for 5 altcoins. The analyst points out interesting developments that will positively affect prices. In this context, according to the analyst, it is possible that these five tokens will attract even more attention in January.
First ranked altcoin KAVA: Reduced inflation to 0
The KAVA team announced that after the launch of KAVA Mainnet 15, the token will have 0 inflation since January 1, leading to a stable supply of 1 billion tokens. Since no new tokens will be minted, staking rewards will be provided from the Kava Strategic Vault.
The altcoin price has increased since it broke out of a descending resistance trend line in October. The break also resulted in a move above the $0.70 horizontal area. It led to a high of $0.95 this week. Meanwhile, the weekly RSI is supporting a breakout as it has moved above 50 (green icon). KAVA is now approaching the next resistance at $1. If it closes above this, a 60% rise to the next resistance at $1.50 is possible.
Despite this bullish KAVA price prediction, a failure to close above $1 could trigger a 25% decline to the $0.70 support area.
Avalanche comes in second: It launches its new wallet
The current Avalanche Wallet will be phased out on January 23. This is a result of the move to the Core Wallet, which simplifies portfolio and staking transactions. It should be noted that this will not affect active delegates and validators, and the same seed statement will also apply to the Core Wallet.
cryptokoin.comAs you follow from , the altcoin price started from a low of $8.65 since October and reached a high of $49.95 on December 24. Thus, it witnessed a sharp rise. During this impressive climb, AVAX broke free from the 750-day descending resistance trend line that has been in place since the ATH level. It also significantly accelerated its subsequent upward trajectory. Over the past ten weeks, the AVAX price has formed nine weekly candlesticks. This underlined the strength of the bullish momentum. While AVAX reached a yearly high at $49 last week, it formed an engulfing bearish candlestick this week. Still, if the uptrend continues, AVAX could rise 70% to the next resistance at $68.
Despite this bullish AVAX price prediction, creating a bearish engulfing candlestick would mean the local top is within. In this case, AVAX is likely to fall 15% to $34, which is the 0.382 Fib retracement support.
Next altcoin Axie Infinity (AXS): Introduced fragment evolution
Axie Infinity has announced a new upgrade for Axie Origins. “Parts Evolution Utility” will be available starting January 3. It will also turn Axies into dynamic NFTs that can evolve over time.
AXS price has increased since falling to a low of $4.05 in October. The following month, the price broke out of a descending resistance trend line that had been in place for 520 days. This caused it to rise to $11.15 this week. However, AXS has fallen since it was rejected by the $9.50 resistance area and formed a long upper wick (red icon). It is worth noting that there are two more days left until the weekly closing. If the altcoin price closes above the $9.50 resistance area, another 100% increase is possible. In this case, it will reach the next resistance at $19.
Despite this bullish forecast, if AXS fails to close above $9.50, it is likely to fall 33% to the nearest support at $6.50.
We continue the list with Stellar: Announces main-net upgrade
Stellar network validators have agreed to hold a vote on January 30 to upgrade the Mainnet to Protocol 20. Protocol 20 will implement 12 new Core Progress Recommendations. Additionally, Soroban will activate his abilities. Thus, it will add a platform for executing smart contracts to the Stellar Network.
The altcoin price has increased since October, when it broke out of the descending resistance trend line. Since then, it has made three unsuccessful attempts (red symbols) to break above the 0.382 Fib retracement resistance level of the previous decline from $0.14 to $0.14. An eventual breakout is likely as the resistors weaken each time they are touched. It is possible that this could trigger a 20% rally to the next resistance at $0.16.
Despite this bullish XLM price prediction, failure to break could trigger a 15% decline to the nearest support at $0.11.
The last ranked altcoin is Near Protocol (NEAR)
The NEAR Protocol team has released an update on NEAR Block Explorers. While the original NEAR Block Explorer was initially important to Blockchain, alternative block explorers have now surpassed it. As a result, the NEAR Block Explorer Selector went live in October. Meanwhile, the original Explorer will be deactivated on January 31st. The team did this to allow users and developers to choose their favorite community-made explorers.
NEAR also broke out of a descending resistance trend line in October. The increase caused a break above the $3.20 resistance area. This week it led to a new yearly high of $4.62. This region is now expected to provide support. If the breakout continues, it is possible for the altcoin price to increase by another 50%. In this case, NEAR will reach the next resistance at $6.
Despite this bullish NEAR price prediction, a close below $3.10 would invalidate the breakout. NEAR is then likely to fall 45% to the nearest support at $2.10.
The opinions and predictions in the article belong to the analyst and are definitely not investment advice. We strongly recommend that you do your own research before investing.
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