How Are The Markets?
After the IMF and the United Nations published a report that the FED should loosen its interest rate policy, recovery in the crypto money markets was recorded yesterday and Bitcoin managed to throw itself above $ 20 thousand. This situation was not limited to Bitcoin, and many cryptocurrencies managed to make investors smile a little with their rises. Under the leadership of Bitcoin, which managed to rise above $ 20 thousand 370, Ethereum, XRP and other altcoins also started to rise. Although Ethereum moved in the downward direction after the Merge update and could not recover, it currently continues its stable movement. Although the total value of the crypto money market has risen to over 1 trillion again, it is currently around 961 billion dollars.
What Do Analysts Say?
Despite these minor rises, some analysts have begun to say that this situation will not last long. One of these analysts is Michael Van de Poppe. Michael Van de Poppe, CEO of Eight Global and also a crypto analyst, said that the cryptocurrency markets may be facing a correction, suggesting that the US dollar is ready for a new rally. Stating that the unemployment data for the US September, which is expected to be announced on Friday, are very important, Poppe suggested that the data may come badly and cause a negative impact on the markets. However, the successful analyst shared on his Twitter account yesterday: “We are turning $ 19,500 into support. Now BTC is trying to hold the $19,600 high. If that happens, I assume we will continue towards $22,400.”
If we look at the altcoin side, the analyst Altcoin Sherpa, who has more than 100 thousand followers on Twitter, shared three altcoin projects that he expects to rise with his followers.
Rally Expected for These Three Altcoins
The first altcoin proposed by the popular analyst, nicknamed Altcoin Sherpa, was Ethereum. Phenomenon thinks that $1350 is cheap for Ethereum and explains its expectation for Ethereum with the following words: “I expect an 11% rise in Ethereum. Ethereum could rise as high as $1500 within days. I believe that the resistance of $1423 will be overcome.” Another project suggested by the analyst was Chainlink. According to the chart shared by Sherpa, Chainlink seems to have surpassed the 0.5 Fibonacci value of $ 7.43 and if Chainlink can hold these levels, it can rise to $ 9.33. LINK currently ranks 22nd in the top 100 cryptocurrencies. The last altcoin suggested by the analyst is Injective. Experienced analyst for cryptocurrency: “I do not plan to buy at this level. I’m waiting for the price to pull back towards the $1.70 level to buy Injective. Then my target for sales will be around $2.20, he said.
