3 Analysts Shared 6 Altcoins That Will Rise And Fall This Week!

An analyst explains what’s next for Ethereum, Polygon and an altcoin. Another analyst talks about upcoming rallies for Chainlink (LINK) and an Ethereum rival. Finally, according to another analyst, it is possible for Cardano (ADA) to face a price drop.

Ethereum, Polygon and BAND predictions

Crypto analyst nicknamed Rekt Capital says that Ethereum is likely ready for long rallies as long as it stays above the $1,448 reinforcements. In this context, the analyst makes the following statement:

The ETH test again has been successful so far after a great drop and rebound from the black trendline. As long as ETH continues to hold these highs, it is possible to confirm the breakout. It will likely challenge the $1,700 – $1,880 (orange) levels later on.

Source: Rekt/Twitter

The analyst then looks at Polygon (MATIC). Rekt expects MATIC to witness a short correction cycle after the more than 50% explosion last week. For this altcoin, he says:

MATIC is up +54% since the breakout, with black at $1.32. A weekly close above the blue could set MATIC for another short-term drop to the blue for another test attempt. If the retest there is successful, MATIC will review the black hills once more.

Source: Rekt/Twitter

However, according to the analyst’s chart, Rekt predicts a real drop to the $1.07 level before continuing the next leg for MATIC to around $1.32.

Another altcoin on the analyst’s radar is Band Protocol (BAND). According to Rekt, if the altcoin fails to turn the $2.70 resistance into reinforcements, it is possible that BAND’s meteoric rally of around 232% last week will be rejected. In this context, the analyst makes the following assessment:

If the BAND stays below the combined resistance (red box and black lower low), the chances of continuing the trend upside down. To go higher, it needs to get this area back to the foothold. Otherwise, a drop to the next $1.80 is possible.

Source: Rekt/Twitter

BTC, LINK and leading altcoin competitor AVAX predictions

The analyst, nicknamed Kaleo, says that Bitcoin is about to explode and is targeting the $22,700 area. In this context, the analyst makes the following statement:

Some buildup on top of reinforcement after detonation. It should see another leg rising to $22,700 soon. There will likely be a metric cut of around $22,000 along the way.

Source: Kaleo/Twitter

Kaleo monitors the decentralized oracle network Chainlink (LINK) for potential benefits. Anything under $10 per token is a great bargain, according to the analyst. He puts these views into language as follows:

The accumulation base for the LINK chart is very pure. Even if I attribute the breakout of the high timeframe resistance to BTC moving more than anything else, I still wouldn’t lose it. These kinds of moves are typically precursors to outpacing the BTC pair. Under $10 LINK feels faulty.

Source: Kaleo/Twitter

The popular analyst also says that Chainlink’s Bitcoin pair (LINK/BTC) is consolidating above a critical resistance. He notes that it implies that LINK will perform significantly better than Bitcoin. For this, he uses the following terms:

LINK/BTC continues to grind slowly, accumulating higher above the higher timeframe resistance. Probably nothing.

Source: Kaleo/Twitter

Kaleo is also looking at a standout Ethereum challenger. The analyst says Avalanche (AVAX) is preparing for major rallies near the $60 level, about 223% off current prices.

Source: Kaleo/Twitter

Kaleo notes that AVAX has now broken the diagonal resistance line shown in the chart above. In addition, he says that he has now moved towards the price goal and stood at around $30 first.

Source: Kaleo/Twitter

Latest altcoin Cardano (ADA)

Koindeks.com As you follow, the decline in the overall crypto market expense was largely due to the daily price drops of the top 10 cryptos. One of these cryptos is Cardano (ADA). Despite the altcoin being in the red throughout the day, ADA is still up about 2.6% over the past week. The analyst points out the following technical levels for ADA.

Adding to ADA’s problems on the day, it weakened by around 1.89% and 1.55%, respectively, against the two biggest cryptos in the market, Bitcoin (BTC) and Ethereum (ETH). This fact is valuable. ADA’s 24-hour trading volume is currently down more than 18% at $499,550,204. This percentage is not much better.

ADA daily chart / Source: CoinMarketCap

The daily chart for ADA is still slightly bullish as the MACD line is positioned above the MACD signal line. Also, 9 EMA lines are positioned above 20 EMA lines. However, if the 9 and 20 EMA lines and the MACD histogram gradient are a random indicator, it’s possible that this bullish sentiment is coming to an end. The gradient of the MACD histogram turned negative 3 days ago after ADA identified a local peak. Since then, the gradients of the MACD histogram and the 9 EMA lines have decreased. This inevitably caused the price of ADA to drop as well. As a result, the price of ADA is now located on 9 EMA lines. If the selling pressure for ADA continues, a drop to the nearest support at $0.3837 is possible.

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