We focus on which altcoins are expected in the crypto world next week. Expectations are high, especially for 4 altcoins. Let’s look at the details.
PEPE in Altcoins
Pepe (PEPE) among altcoins has faced a strong resistance level of $0.00000178 in the last 24 hours. It failed to close above this crucial price point. However, technical indicators suggest that the price of the meme coin will make another attempt to break above this level in the coming days. The daily chart of PEPE/USDT reveals a bearish trend, accompanied by a descending wedge chart pattern over the past few weeks. This pattern, which is considered bullish, was confirmed the previous week. It yielded results with a positive string of several days starting Monday.
During the recent bullish move, the price of PEPE settled from as low as $0.00000091 to the current level. It faced rejection at the key $0.00000178 resistance level in the last 24 hours. However, PEPE’s technical indicators have pointed to a short-term bullish cycle in the last 48 hours. The 9-day EMA line is bullish above the 20-day EMA. Accordingly, it showed a shift in momentum from bearish to bullish.
PEPE’s graph
Despite this short-term bullish cycle, the daily RSI line on PEPE’s chart indicates that the price may have reached a peak as the slope of the line changed from positive to negative. However, the daily RSI remains in the neutral zone. It shows that PEPE still has upside potential before entering overbought conditions.
If the bulls continue to lead the price of PEPE over the next 24 hours, the altcoin will potentially turn the $0.00000178 resistance level into support in the coming days. Conversely, if a correction occurs in the next 24-48 hours, the price will drop towards the 9-day EMA, around $0.0000013.
XRP
XRP price has a history of inverse head and shoulders patterns that demonstrate its importance as a technical indicator. Especially in 2019 and 2020, XRP created an inverted head-and-shoulder pattern on the three-day chart, causing an initial increase of 190%. After a complete pullback and retest of the neckline, XRP price experienced a remarkable 607% rise between March and April 2022.
In May 2023, another instance of reverse head and shoulder formation occurred. XRP price surged 12% with a decisive break above the neckline on May 26 and hit the projected target of $0.525. Currently, XRP price has formed an inverse head and shoulders pattern on the daily time frame. Price action from late March to June 24 reveals three different swing lows in the middle, referred to as the “head”. The two dips on either side are known as “shoulders” and exhibit similar depths.
A neckline is created by connecting the highest levels of these three valleys. A successful break above this neckline indicates significant movement. The target for this setup is determined by measuring the distance between the peak and lowest point on the right side of the head and adding it to the breakout level. For XRP, this setup anticipates a potential increase of 24.33%, targeting $0.673.
Shiba Inu in Altcoins
Among altcoins, Shiba Inu price has shown notable resistance to bearish pressure in recent days. Accordingly, it has experienced a remarkable increase of 25% in the last nine days. A close examination of the price action of SHIB between May 8 and June 24 reveals that a Power of Three (Po3) pattern has emerged. This technical formation consists of three different stages:
- The asset consolidates above a key support level of $0.00000791 as far as SHIB is concerned. This marks the accumulation phase.
- Following this phase, the asset takes a dip to gather liquidity below a key low that is deliberately targeting early bulls. This manipulation phase is a clear sign of market manipulation.
- The final phase involves a recovery above the previously broken critical support level. It confirms the start of the next phase known as deployment. The distribution phase tends to be the most volatile and often causes significant price movements.
Currently, among altcoins, Shiba Inu price is approaching a recovery above the $0.00000791 barrier. Accordingly, the altcoin has the potential to set as a stable support level. This breakthrough will confirm the break with the Po3 setup. It will also initiate the deployment phase for SHIB. The suggested profit taking levels for the Shiba Inu price are around $0.00000964 and $0.0000101. Accordingly, these levels represent gains of about 20% and 27% from the current position of $0.00000797.
Will Cardano come out?
Among altcoins, Cardano price experienced a significant drop of 44% at the beginning of June. It fell from $0.381 to $0.220 in just five days. However, after a local bottom formed on June 10, ADA recovered an impressive 34%, signaling a strong recovery. In the midst of the recent uptrend, the bullish momentum seems to be waning. It leads to a temporary pause as the bulls breathe. This pause will trigger short-term holders to take profits, potentially resulting in a pullback. The key support levels to watch during this correction are $0.269 and $0.279.
On the other hand, a recovery from the support base at $0.279 will play a crucial role in prolonging the ongoing recovery rally. If the buying pressure strengthens significantly next week, Cardano price will increase by 19.52%. Accordingly, there are chances of retesting the next critical hurdle at $0.334. In the ascension scenario cryptocoin.com When we look at it as a price point, ADA will continue to rise and reach the level of $ 0.347. It is also possible to reach the highest range at $0.381.
