Altcoin
They are preparing for a bullish move!
Crypto analyst Aaryamann Shrivastava expects a 27% rally. LTC. The analyst also expects a short-term rally from TON. Analyst Michael Ebiekutan says leading altcoin Ethereum is gathering strength for bullish momentum.
LTC Price Forecast: What is the target for the next rally?
Litecoin (LTC) can be seen breaking out of a descending triangle reversal pattern. A descending triangle reversal pattern is a bullish chart pattern characterized by a horizontal support line and a descending trend line. When the price breaks above the trend line, it indicates a potential trend reversal from bearish to bullish. This is also the case with LTC. At the time of writing, the altcoin is trading at $81. Under the circumstances, it is possible that LTC could reach the $102 target set by the pattern. This implies a potential upside of 27% for the token. However, you first need to turn the $86 resistance into support.
Litecoin price analysis. Source: TradingView
If this violation fails, LTC it may fail to test the support at $79 and lose it, invalidating the pattern and the bullish thesis. As a result, the price of the altcoin is likely to drop to $76 and below.
TON Price Prediction: Another Short Rally Before the Bottom is Possible for the Altcoin!
The one from Toncoin (TON) will likely see some upside if it closes above the $6.04 support level. He has tested this level in the past and has usually seen a rise in price. However, the bears are likely to stop this increase at the $6.50 resistance level. This is because at that point TON will confirm itself as the top of the market. Furthermore, the MVRV ratio will enter the danger zone. Conclusion Toncoin price will likely drop to $6.0 or $5.4.
However, if TONNE holders choose HODL, the price of the altcoin is likely to exceed $6.50. This would invalidate the bearish thesis. Therefore, this will allow the price of Toncoin to gain more.
ETH Price Prediction: The leading altcoin is gaining momentum for a rally!
The market was a bit quiet Ethereum it continued to trade around $3,000. According to QCP, despite the quiet market, ETH derivatives volume increased by nearly 60% versus Bitcoin in May. According to QCP, this increase may be due to pricing market volatility in anticipation of the Securities and Exchange Commission’s (SEC) May 23 decision on Van Ecks’ spot ETH ETF application. Many expect the SEC to reject applications for spot ETH ETFs. This would also explain why the market is moving slightly lower.
The current price action suggests as much ET will probably remain lateral in the coming weeks. However, historical data suggests that the price of the leading altcoin may be gaining momentum for an uptrend. Considering that ETH has remained in the range of $2,852 to $3,300 for almost a month, a prolonged break above the upper limit of the range is possible if it sees a slight bullish trigger.
Onchain data also shows that most whales are piling up ET in this range in anticipation of a price increase. A bearish event could briefly break below the bottom of the range, providing a buying opportunity.
The opinions and forecasts contained in the article are those of the analysts and do not constitute investment advice. AS Cryptokoin.com, we strongly advise you to do your research before investing.
Follow us on Twitter, FacebookAND Instagramand join ours Telegram AND Youtube channel to stay updated on the latest news!