Even Date Given: These 5 Altcoins Could Increase Lightning Fast!

Crypto analyst David expects strong bullish for WELL and VET. Analyst Godfrey Benjamin states that LINK is positioning for the bull market. Crypto analyst Ali Martinez says leading altcoin rival Cardano is gearing up for an explosive bull rally. The analyst, nicknamed Crypto Insight, talks about a historical model for XRP.

This altcoin could rise sharply

Moonwell has been trading in a range between $0.003 and $0.019 since August 2022. During this time, WELL price has bounced twice from the support level of this range. The most recent jump took place on July 17, 2023 and led to the current recovery. This increase also confirmed the formation of the double bottom formation. This is a bullish pattern that usually leads to an uptrend reversal.

Meanwhile, the weekly RSI indicator has formed a significant bullish divergence. Also, the RSI has climbed above 50, adding more importance to the pattern. Therefore, WELL price is likely to continue higher towards the $0.019 resistance area. This marks an increase of over 120% from the current price. Breaking this level will rapidly push the altcoin price towards the next resistance at $0.029, created by the 1.618 Fibonacci extension of the last bearish move.

WELL weekly chart. Source: TradingView

The most likely scenario shows that the WELL price will experience a rapid increase in the near future. The closest target is $0.0135. Higher targets are found at $0.019 and $0.029. The uptrend could be delayed if the altcoin price drops below the $0.0075 support zone and closes. In this case, WELL could drop to $0.0057.

VeChain (VET) is positioned to rise

VET price declined after being rejected by the long-term horizontal resistance area at $0.033 on February 20, 2023. This move caused the price to decline below the key $0.015 support level. Thus, it showed that the downtrend is continuing. However, instead of falling sharply to the next support level at $0.01, altcoin price only touched the $0.013 low. It also regained the $0.015 support level in the next two weeks.

This indicates that the previous breakout is a divergence and a strong upward move will follow. So it’s a pretty bullish development. Meanwhile, the weekly RSI indicator formed a significant bullish divergence before the price rebound. Thus, it supported the continuation of the uptrend. Therefore, the altcoin price is likely to continue rising towards the long-term resistance at $0.033. This means an increase of over 80% from the current price.

VET weekly chart. Source: TradingView

The most likely expectation is that the VET price will rise even higher in the near future. The closest target is $0.021. There is also a target at $0.033, potentially even higher. However, the uptrend could be delayed if the altcoin price breaks below the $0.0175 support level and closes. In this case, it is possible for VET to drop as low as $0.015.

Is Chainlink (LINK) ready for the new bull rally?

Chainlink is the most used decentralized oracle service provider in the crypto ecosystem. The altcoin project is expanding its reach through consistent integrations with some of the industry’s most promising protocols. According to a recent update to the protocol, Coinbase’s base protocol has finally integrated Chainlink with a number of other projects including Lendvest, DSLA, Banshees NFT project, and Crypto-Guilds.

These integrations are very important for Chainlink. Because it brings enormous demand for its native token, LINK. This creates a positive advantage for growth across the board. A unique feature of these broad integrations is that each of the projects that receive support from the Chainlink oracle are still in their early stages of operation and their growth can turn into an added advantage for LINK. It is a fact that the Oracle provider has not slowed down its broad-based partnerships since the beginning of the year. Considering this situation, it will most likely support the altcoin price’s upward move.

Analyst predicts 2,900% bull run for this altcoin

Crypto analyst Ali Martinez suggests that Cardano has the potential to do a 2,900% bull run, as it did after consolidating in 2018-2020. The analyst states that the altcoin price saw a period of recession between 2018 and 2020. During this period, the ADA price fluctuated between $0.10 and $0.028 with a 665-day trend. After this long accumulation phase, a 2.985% bull run began.

Currently, ADA is stuck in the $0.46 to $0.24 range as it has been for 329 days. If history and price action are any indication, the analyst believes ADA could see a breakout around February 2024. However, the size of the price increase after this breakout remains an open question.

XRP repeats this explosive historical pattern

cryptocoin.com As you can follow, XRP has entered a downtrend since its peak on July 13. Despite this, market watchers continue to identify bullish patterns across multiple time frames. The last of these was the correction of the 20-day and 50-day SMAs against Bitcoin (BTC). Analyst Crypto Insight draws attention to this bullish development for the first time in a recent post. In this context, he highlights the importance of XRP based on historical trends.

Specifically, the XRP/BTC chart spiked to the 0.00002970 level in July. Thus, the altcoin reached its highest point since December 2022. This impressive increase was due to XRP outperforming BTC as of mid-July right after the victory in the SEC lawsuit.

Historical trend for altcoin

Amid the pullback, XRP weakened against BTC. Thus, he closed the month of July at the level of 0.00002388 against Bitcoin. Despite this drop, the recent bullish saw XRP retrace the 20-day SMA (0.00001852) and 50-day SMA (0.00002100) on the monthly timeframe. At the current price of $0.00002152, XRP is holding above both SMAs. Thus, the altcoin points to an imminent bullish momentum.

Crypto Insight points out that XRP has not been able to recapture these two SMAs against BTC since 2017. The analyst states that the last time XRP achieved this feat, it resulted in the biggest bull rally where it rose to the ATH level.