Analysts also stepped in when there was a bullish expectation for five altcoins. They have already started accumulating these cryptocurrencies. So which are they?
Analyst Michaël van de Poppe looks at altcoin LINK
Analyst Michaël van de Poppe has the decentralized oracle network Chainlink (LINK) on his radar. Poppe says altcoin LINK may be about to reclaim $9.27 before September.
According to the analyst, Chainlink has been doing very well as an altcoin so far. Although the analyst gives the target of $ 9.27, the LINK price is located at $ 7.45. Poppe also predicts a massive inflow of liquidity into digital assets in the coming months.
Analyst Rudy Fares looks at ADA
Cardano continues to attract attention as an important project. Accordingly, it draws the attention of analyst Rudy Fares. Altcoin ADA serves a dual purpose as a digital currency and a tool for stakeholders to vote on protocol changes. As soon as the crypto market starts to show signs of a solid bull phase, the ADA price will take its toll.
Altcoin ADA is well positioned to break out of the $0.30 area and higher. The platform has promising technology. Given the progressive roadmap, there is a possibility that the ADA will meet its targets of $0.40, $0.50 and $0.65 in 2023. The analyst therefore points to a 100% potential in the cryptocurrency.
Analyst Flow Horse looks at altcoin UNI
The Flow Horse points to decentralized exchange Uniswap (UNI). Accordingly, he believes it may be preparing for an upward move. He suggests that UNI’s signals point to a potential uptrend.
On the other hand, the analyst thinks UNI is in the blue chip category. Altcoin UNI is currently trading at $6.54, up 1.54% in the last 24 hours.
XRP highlight from analyst Jaydee
Famous chartist Jaydee examines XRP’s historical charts. Accordingly, it analyzes key indicators such as MACD and ADX/DI crosses. It also suggests a potential bullish scenario for the asset. Jaydee noticed a pattern in which the MACD line closes above the signal line on the monthly timeframe, supported by a cross on the ADX/DI indicator confirming the bullish momentum.
#XRP – are we copying that move similar to 2017 before that next impulse move up?
Although short timeframes (daily) have lots of false signals, we can't deny similar structures compared to 2017..
Retweet/Like for more $XRP updates!
MAJORITY will get REKT AGAIN as always!… pic.twitter.com/JH3vqUXlWM
— JD 🇵🇭 (@jaydee_757) August 1, 2023
The MACD is a trend-following momentum indicator that identifies potential changes in an asset’s trend. ADX, Average Directional Index. DI stands for Direction Indicators. ADX determines the strength of a trend, whether it is an uptrend or a downtrend. DI lines determine the direction of the trend. Past confirmations of similar patterns have led to impressive price gains for XRP ranging from 12x to 634x in one year. According to the analyst, such a situation brings the altcoin XRP price somewhere between $ 8 and $ 500.
Trust Wallet Token is one of the cryptos that attracts the attention of analysts.
Trust Wallet Token (TWT) has recently recovered from a long-term support line. Accordingly, it showed promising signs by breaking above a short-term bullish pattern. On the other hand, these developments point to the potential for more price gains in the near future. Since June 2021, the price of TWT has been rising steadily above an ascending support line providing multiple examples of strong support, with the latest bounce on June 12, 2023.
In particular, jumps before this line were followed by significant upward movements (shown by blue arrows). Moreover, cryptocoin.com On the other hand, the formation of a higher low after bouncing off the support line indicates the active buying interest of the bulls. As a result, if history repeats itself, the TWT price will potentially be around $1.55. This represents a significant increase of over 60% from the current price.
