In the world of crypto money, the views of analysts who make evaluations for the world of altcoins are always followed. Now came the assessments for the five cryptocurrencies. Let’s look at the details.
Analyst evaluates time for altcoin Ethereum
Benjamin Cowen gave an insight into the Ethereum market based on the monthly return on investment. The analyst revealed when altcoin Ethereum investments are most and least favorable. Cowen announced that ETH investments showed the best performance in the 1st and 2nd quarters. Benjamin Cowen gave information about the Ethereum market based on the monthly return on investment (ROI). Cowen emphasizes the seasonality associated with altcoin Ethereum. He also evaluated how the price behaved during different months of the year.
According to Cowen’s analysis, altcoin Ethereum tends to do best in the first and second quarters of the year. In this regard, he proposes to buy Ethereum in the late 4th quarter. He also stated that he would recommend selling after about six months, especially in a bull market. On the contrary, he revealed that buying Ethereum in the summer has historically yielded a lower return on investment.
XRP, ATOM and LINK highlight from Michael van de Poppe
Famous analyst Michael van de Poppe makes statements. He praised the price performance of altcoin Ripple (XRP) following the positive outcome of the SEC lawsuit. In his analyst post, he explained that the remittance token was able to erase 15 months of losses in what he called a “bullish breakout” in just 24 hours after the decision. Also, van de Poppe states that investors should allocate their capital wisely in the future. Accordingly, he recommends applying a dollar cost averaging (DCA) approach. She also recommends not being influenced by their friends and social media. In his tweet, he states that a long-term perspective will be key. He also emphasizes that investors should hold on to their altcoin XRP assets.
What $XRP did, is showing to you what a bull breakout does.
Within a matter of 24 hours, losses of 15 months were erased.
Allocate wisely, DCA, don't get influenced by friends and social media and simply hold.
That's the key.
— Michaël van de Poppe (@CryptoMichNL) July 30, 2023
Poppe is also looking at the interoperable blockchain altcoin Cosmos (ATOM). According to Van de Poppe, he is looking at two possible scenarios for accumulating the 28th largest altcoin by market cap. Poppe says at this point, “It’s pretty simple. I’m interested in over $10.50. Moreover, I want to take a long position at $8. Between the two, I’m not interested.” says.
The analyst also updates his views on the decentralized oracle network altcoin Chainlink (LINK). Van de Poppe states that altcoin Chainlink has been in a downtrend against Bitcoin (LINK/BTC) since May 2021. However, he says that if the pair manages to stay above $6.73 worth of 0.00023 BTC, it will reverse the multi-year trend.
Exciting development for altcoin DOGE
The altcoin Dogecoin (DOGE) community is in a potentially exciting development. Recent analysis shows that the popular meme-inspired cryptocurrency may be ready to break through the $0.1 price barrier. However, there is a critical level of resistance standing on this path. It is possible to analyze the price movements of Dogecoin using the indicator “In/Out of the Money” (IOM). This tool, developed by analytics firm IntoTheBlock. It defines the average purchase price of tokens for any address with a balance accordingly. If the current price exceeds this average cost, the address is “Parada/in”. Conversely, if the current price is lower, the address is considered “Out of Money”.
Currently, altcoin Dogecoin is hovering at a price level supported by less than 10 billion DOGE in volume. In the volatile world of cryptocurrency trading, this amount is not considered significant. The next important level of resistance is reinforced by a stronger volume of 12.8 billion Dogecoins. Let’s consider the current price action and a general market recovery. In this case, this resistance level will come in the near future.
One of the factors supporting potential breakthrough
One of the factors supporting this potential breakthrough is the recent increase in volatility, especially in networks like BASE. This increased activity will provide the necessary momentum for altcoin DOGE to break through the upcoming resistance and set a course towards the $0.1 level. Notably, Dogecoin recently managed to pierce the 200-day Exponential Moving Average (EMA). This development is often seen as a bullish signal. It will also trigger a run towards the next price threshold.
cryptocoin.com As a result, the difficulties remain. However, current market conditions suggest that there is a real possibility for altcoin Dogecoin to break the $0.1 threshold. However, as the market recovers and volatility rises, the beloved Shiba Inu-themed coin will make a significant splash.
