Altcoin
Analysts Predict Rally for These 3 Altcoin Projects – Targets Set!
Cryptocurrency analyst Aaryamann Shrivastava predicts BANANA could head towards $65. Analyst Abiodun Oladokun talks about the possibility of a rally for IMX. Analyst Manish Chhetri says that BOME price is gearing up for a 20 percent rally. We have compiled analysts’ predictions for these 3 altcoin projects for our readers.
BANANA Price Prediction: Altcoin Keeps Support Intact!
Banana gun (BANANA) price has dropped 21% in the past two weeks, from $72 to $56. Meanwhile, Telegram cryptocurrency has been above the critical support level of $55 for the past two days. This level has been tested as a resistance level multiple times during June and July and is now being tested as a support. If accumulation begins in the coming days, a reversal from this support could send BANANA to the psychological resistance of $65.
BANANAS Price Analysis. Source: TradingView
A consolidation below $70 is a possible outcome for the next few days. However, if the $56 support is lost, a drop to $47 is possible. This could invalidate the bullish thesis and cause Bananas a price that will struggle to recover.
IMX Price Prediction: Liquidity Inflows Confirm Sustained Rally!
Data from Immutable The price action of (IMX) on the daily chart confirms the possibility of breaking the resistance level in the short term. For example, the token’s rising Chaikin Money Flow (CMF) signals a steady influx of liquidity needed to increase its value. Currently, IMX’s CMF stands at 0.11 and it broke the zero line on July 21st for the first time since May 7th. This indicator measures the flow of money in and out of an asset. When it moves above the zero line, it is a bullish signal. It indicates that buying pressure is high and usually heralds a sustained price rally. If IMX’s CMF continues to rise and the current buying pressure is maintained, IMX’s price will rise to $1.77.
However, if profit-taking activity starts at this level, the token price could decline towards the support level, invalidating the above bullish thesis.
BOME Price Prediction: Altcoin is ready for a rally!
Book of memes (BOOM) price retreated last week, testing its daily support at $0.00791, which coincided with Friday’s bullish trend line. It then rallied by 19% in the next three days. As of Tuesday, the previous daily resistance level is struggling at $0.0108 and the current price of BOME is showing a 9.2% daily increase to $0.0011. If the altcoin closes above the daily resistance of $0.0108, it could rally by 20% to retest its weekly resistance at $0.0130. On the daily chart, the Relative Strength Index (RSI) and Awesome Oscillator (AO) indicators are trading above the neutral 50 and zero levels, respectively. This strong momentum suggests a strong bullish sentiment in the market.
CoinGlass data shows that future Open Interest (OI) in BOME on exchanges has increased. The chart below reveals that BOME’s OI rose from $61.88 million on Saturday to $104.80 million on Monday. This indicates that new or additional money is entering the market and that new purchases are taking place.
While on-chain metrics and technical analysis point to a bullish outlook, if BOME’s The daily candle closes below the daily support area of $0.0079, the bullish thesis will be invalidated by forming a lower low on the daily timeframe. This development could trigger a 20% decline in the altcoin price, causing it to revisit the July 5 low of $0.0063.
The opinions and forecasts contained in the article are those of the analysts and do not constitute investment advice. Kriptokoin.comWe strongly advise you to do your own research before investing.
Follow us on Chirping, Facebook AND User profileand join our Telegram AND Youtube channelto stay up to date on the latest news!