Analysts have spotted reversal signs for Ripple and 2 altcoins despite their double-digit depreciation since last week.
Ripple shows signs of revival
According to a chart shared by Twitter analyst Cameron Fous, XRP is currently having a rebound boom that could potentially break the downtrend. The 7th largest cryptocurrency by market cap is trading at $0.3954 at the time of writing. It is worth noting that it is about 90% down from the $3.84 ATH price. The analyst now says that XRP may emerge from this downtrend despite the current bear market:
XRP has the most rising setup of all cryptocurrencies as of today. A boom in the game with the potential to break the long-term bearish trend in the face of a bear market.
$XRP has the most bullish setup in all of #crypto as of today. Revival breakout in play with potential to breakout the long term down trend in the face of the bear market.
RT if you agree#XRP #xrparmy pic.twitter.com/5oeDt6TgpX
— Cameron Fous (@Cameronfous) September 21, 2022
Analysts expect Ripple price to close above $0.41
In another analysis, AltCryptoTalk’s mysterious analyst “AltCryptoGems” also shared that he sees the trajectory of XRP as bullish. He mentioned that XRP is holding above the marked support on the chart and has broken above the symmetrical triangle he mentioned during the previous XRP update.
AltCryptoGems expects it to close above the $0.41 resistance line on the day after the Golden Cross appears on the Ripple chart. He then added that the price can be expected to head towards $0.471.
$XRP Update!📊#XRP held above the support and managed to break above the symmetrical triangle we were talking about in our last update!
Also a golden cross happened. The daily must close above the resistance of $0.41 and then we can have a measured move towards $0.471. pic.twitter.com/4Qpz1e2LTR
— Alt Crypto Gems (@AltCryptoGems) September 21, 2022
Just like Ripple, experts say the bull is ready in Solana
In a new YouTube video, the anonymous host of InvestAnswers shared his strategy in which he updated his Solana forecasts. According to the anonymous crypto analyst, Solana’s price prediction methodology involves first looking at the possible future value of Bitcoin to find a price target for Ethereum. We can roughly summarize the analyst’s price forecasting strategy as follows:
…if Bitcoin goes to $158,000 it will put us at a hypothetical Ethereum price of $15,450. If Bitcoin doesn’t go to $158,000, this $15,000 price target for Ethereum will vanish…25% ETH dominance (ETH.D) shows that Ethereum makes up a quarter of the total crypto market cap.
Solana price in this environment
After subtracting the potential future price of Ethereum, the analyst says he can now find two price targets for Solana:
There are now two variations for the Solana price: one 10% of ETH dominance and the second 20% of ETH dominance.”
The crypto strategist predicts that in this hypothetical situation, it could rise to $370, an increase of more than 1,000% from its current price. If Solana achieves 20% ETH dominance, the analyst thinks it could skyrocket to $739, up more than 2,100%.
As we can see from Ethereum, which is trading at $ 1,300, the merge has not yet had the expected effect. cryptocoin.com As a result, we mentioned that the Ethereum Classic (ETC) price has risen by more than 70% until September 15. However, the recent ETV, RVN, XEC and similar PoW Blockchains have been on the decline since the merge was implemented on September 15. FXStreet analyst Gregor Horvat says this will soon reverse.
Ethereum Classic shows bullish pattern
ETC has been very strong in the last few weeks. At the moment, we see that wave C is approaching an important support zone, accompanied by profit buying. Analyst Gregor Horvat predicts that after a strong or impulsive rebound above the channel resistance line and the 40 zone, ETC will start rallying again.
Another data supporting ETC’s rally is the ETCG (Ethereum Classic Grayscale Investment Trust) chart. We can also see that this chart has completed an ABC corrective retracement, which may stop around the gold 61.8% Fibo here. The most interesting part was that wave B was a triangle.
ETC is currently trading at $29.00. Mining-related coins were the biggest losers this week.
