According to crypto analyst Qadir AK, meme coins DOGE and SHIB are poised for major moves. According to analyst Lockridge Okoth, the price of this altcoin is likely to increase by 55 percent. According to crypto analyst David, it is possible for RDNT price to skyrocket to $0.5 in the near term. Finally, analyst Ali M explains the X factor that will increase the price of the leading altcoin.
Dogecoin (DOGE) price prediction
DOGE price seems to be poised for a major breakout after the recent rejection from the temporary highs near $0.0947. That’s why the price is accumulating power by varying within a very narrow range. Also, volume is trying to maintain average levels. It is possible that this will open the door above $0.09 in a short time.
DOGE price dropped below the ascending trendline. Also, instead of reaching the lower FIB channel, the price started to consolidate subtly. This indicates that the price is accumulating strength and could start off with a good price action in the coming days. The price is likely to rise above $0.09. Thus, it is possible to reach the 0.1 FIB level above $0.98 soon.
Shiba Inu (SHIB) price prediction
Shibarium, the most anticipated Layer-2 Blockchain, is the next big thing in the crypto space. Shibarmy has high expectations for the event, which is expected to trigger the altcoin price to new highs. While the launch date is not yet known, collaborations with payment processors are making a big splash. NOWPayments, a leading payment processor, has expanded its Blockchain support. It also announced its integration into the layer-2 blockchain.
NOWPayments is aiming to be the 1st crypto payment gateway to integrate #Shibarium!
We support #SHIB, #LEASH & #BONE.
We offer SHIB burn feature.
We help businesses accept SHIB.
We keep developing new tools for the amazing @Shibtoken ecosystem!Try NOW!https://t.co/9nXThvyXc6
— NOWPayments (@NOWPayments_io) April 26, 2023
Meanwhile, SHIB price is also accumulating strength, which could help it rise. With the next bullish move, the price is likely to rise above $0.000012. A bounce above $0.000015 is likely later.
It is possible for this altcoin to increase its price by 55%, but…
Monero (XMR) has been in consolidation for weeks between the resistance and support levels at $163.9 and $148.8, respectively. After that, the altcoin tries to escape from a symmetrical triangle formation. Such a technical formation indicates a breakout on both sides and will be confirmed when the price breaks out of the pattern. The altcoin’s price target is estimated by measuring the longest distance in the chart formation and superimposing it from the breakout point.
According to the chart below, XMR could rise 55% north if it successfully breaks above the descending trendline. In such a move, the possible target for the altcoin would be $251.7. Closing of the daily candlestick above the $163.9 resistance level will confirm this thesis. The Relative Strength Index (RSI) at 55 showed more room to the upside. Its position above the average line signaled that the bulls were leading the market. With these, the chances of altcoin price increase were higher. Note that the RSI gives a buy signal for XMR when the Stochastic breaks above the RSI, further supporting the bullish thesis.
XMR 1-day chartSantiment: 20% increase in XMR social volume
According to Santiment data, XMR recorded a 20% increase in its social volume measure between March 4 and April 26. This shows that mentions and interest for altcoin are increasing among social media platforms. This explains the price increase. It also adds credibility to the bullish assumption.
Conversely, if the bears rally, the XMR price is likely to decline. One of the possible reasons for such a reversal could be early profit purchases. It is possible for a bearish resurgence to send the XMR towards the ascending trendline before sinking below the chart pattern. The bullish thesis will be invalidated if the daily candlestick closes below the $148.8 support level.
DOGE will reach $1 after this Binance announcement!
Binance announced on Thursday that it has added the DOGE/TUSD trading pair to increase Dogecoin trading volume. Binance currently has Dogecoin listed with USDT and BUSD trading pairs. Some analysts expect this move by Binance to push DOGE price to a sudden rally above $1 as it leads the market when it comes to Dogecoin trading. However, traders did not immediately respond to Binance’s listing of DOGE/TUSD pairs.
Binance dominates the crypto market in terms of trading volumes. DOGE/USDT on Binance accounts for 20% of the total trading volume, which is four times as much as DOGE/USDT on OKX and DOGE/BUSD on Binance. In the perpetual market, Binance dominates with 25% of the trading volume in DOGE/USDT. Experts expect DOGE/TUSD to increase Dogecoin’s overall trading volume. This will help increase liquidity and DOGE price.
This altcoin price is likely to skyrocket to $0.5 in the short term
The price of RDNT has increased by over 150% since March 11th. Thus, the altcoin reached $0.5 ATH on March 20. The price surpassed the key $0.31 resistance level in the process. Despite falling sharply after reaching ATH, it successfully confirmed the $0.31 level as support (blue arrow). In the 3rd bounce, the price rose sharply and once again tested the resistance level on ATH. This shows that RDNT is currently trading in the $0.31 to $0.5 range. The daily RSI indicator has remained above 50 since the price reached ATH. This shows that the bulls have an advantage.
RDNT daily chart / Source TradingViewThe 4-hour chart shows that RDNT has been trading inside a gradually descending parallel channel since it was rejected at the ATH resistance level. This is a typical bullish pattern that leads to a breakout in most cases. In addition to the bullish pattern, there are two factors supporting the potential breakout for RDNT. The first is when the price has formed a higher bottom and is trading above the middle line of the channel. The second is that the 4-hour RSI indicator broke the decreasing resistance line and confirmed it as support (blue arrow). Such breaks in the RSI often lead to similar breakouts in price action. Therefore, it is possible for RDNT to potentially break the existing gradually decreasing parallel channel. Thus, the altcoin can reach its ATH of $ 0.5.
RDNT 4-hour chart / Source TradingViewThe most likely expectation is for RDNT price to break out of the current pattern and test ATH at $0.5. The short-term bullish view will be invalidated if the price breaks below the channel. If this happens, it could potentially test the bottom of the range at $0.31.
X factor that can raise the price of the leading altcoin
cryptocoin.com As you follow, Ethereum has been a major player in the crypto market since its inception in 2015. With its innovative smart contracts and decentralized applications, Ethereum has quickly become the second largest cryptocurrency by market cap. So what’s next for Ethereum in 2023? What is the potential X-Factor that could take Ethereum’s price to new heights?
X-Factor, Tier 2 scaling solutions. Layer-2 scaling solutions are off-chain technologies built on top of the Ethereum Blockchain. They allow transactions to be moved outside of the main Blockchain, allowing faster and cheaper processing.
Ethereum transactions per second / Source: BlockchainThe main purpose of Layer 2 solutions is to increase Ethereum’s transaction throughput, reduce network congestion and lower transaction fees.
