Bitcoin price stuck in a tight range is clearing upside hurdles for the altcoin market. According to technical analysis, BTC’s lack of liquidity benefits these 5 altcoins the most.
These 5 altcoins are giving green signals as BTC drops
A volatile trend continues as large-volume cryptos such as BTC and ETH are hovering in a narrow range. Meanwhile, Polkadot price is busy testing one of the key supports.
Similar to other members of the market, the price of Polkadot has continued its healthy rise since the beginning of the year. After the notable decline, the price is now heading towards critical levels that could offer a necessary bounce to recover and break above the bearish impact.
DOT price is currently in a group of leaders preparing to break out of a prolonged downtrend. After a 2-month increase, it gained nearly 100% in value. Also, it quickly entered a deep consolidation for the 3rd month. Therefore, DOT price is safe until it holds the critical levels of $4.83.
Also, the current chart’s Elliot wave analysis is very close to completing wave 2. Therefore, the next wave could be an upside wave that could push the price towards the upper targets around $10-10.5 initially. However, a prolonged uptrend will lead the bulls towards $12.30.
Bull prospects strengthen for Ripple (XRP)
A crazy prediction about XRP came from Twitter crypto analyst Dark Defender. The technical analyst expects the XRP price to make a historic bull run to $1.33, then $3.82. The analyst bases this expectation on XRP’s historical price movements.
cryptocoin.com In this article, we have included the details of Dark Defender’s 800% XRP price increase forecast. XRP is currently trading in the $0.439 region, where it is up 5% independently of the market overall.
Altcoin Sherpa says Pepe Coin will continue to rally
Pepe Coin, a meme coin that hit the market in April, hasn’t fallen from the trend yet. Now, popular crypto analyst Altcoin Sherpa says he believes Pepe will eventually reach ATH levels, but only after shaking weaker hands.
$PEPE: Very good place to take profits around here if you're in from lower.
Could it go higher? Of course, I actually think it eventually will.
But in the short term, it looks a bit sketchy.
(I'm still in this one myself from much lower). pic.twitter.com/u2OZvgtjpR
— Altcoin Sherpa (@AltcoinSherpa) May 14, 2023
Altcoin Sherpa uses Fibonacci retracement levels for price targets to predict Pepe’s bottoms. Looking at its chart, Sherpa indicates that Pepe could drop to $0.00000136 in the short term.
The next level of SUI price according to Altcoin Sherpa
Aptos is listed on major centralized exchanges along with Pepe Coin in rival Sui (SUI). The airdrop event managed to attract the attention of crypto investors.
Altcoin Sherpa says Sui is poised for an upside move to $1.27 after days of fluctuation.
$SUI: Wouldnt be surprised to see this do well if and when btc chills out and alts have a breather. MMs control a large amount of the floating supply I think, they'll manipulate and pump this shit. pic.twitter.com/XbsorKIbiI
— Altcoin Sherpa (@AltcoinSherpa) May 14, 2023
Technical scenario where the price of Shiba Inu (SHIB) will rise 10%
Technical analyst anushsamal says if the SHIB price rises 10%, the bulls will step in for more gains.
SHIB is currently trading at $0.000008626. According to technical analysis, it could face a minor resistance at $0.0000088 before reaching $0.000009. Meanwhile, a symmetrical triangle is forming, indicating a bullish signal for SHIB.
According to the analysis, if SHIB successfully surpasses the $0.0000088 level, it could experience an upside break from the triangle. This clears hurdles towards the bulls’ target of $0.0000096. This move will result in a significant rally over 10% for SHIB. Conversely, if the price breaks down $0.0000084, this time the bears will step in for lower lows.
