Watch Out For These 3 Binance Altcoins: Explosive Action Expected!

Technical analysts shared in detail why they are waiting for a rally for 3 altcoins from the Binance list. Keeping in mind that the claims are not absolute, let’s take a look at the expectations of the analysts.

These 3 altcoins from Binance listing are ready to rally

Koindeks.com As you follow, XRP price rallied over 40% after the positive course of the SEC case. Price currently continues to respond positively to Ripple’s developments in court. On the technical side, the cup and handle pattern on the XRP chart points to $0.70 with an additional 40% potential move.

XRP is currently trading close to $0.52 to reach the $0.70 formation target. If buyers heed the invitation, XRP bulls will set out to achieve that goal. The position of the MACD indicator supports the bulls on this path. The bulls have to hold the $0.50 foothold to mitigate the risk of the bears wiping out the gains made in the last 30 days. On the other hand, a daily close below $0.50 threatens to break the secrets reinforcements. Analyst Josh Isige says the price could break $0.40 and $0.34 after this level.

Tony Montpeirous: LUNA price will decide soon as altcoin market is calm

XRP was certainly one of the prominent cryptocurrencies of the week. For example, the cryptocurrencies of the Terra ecosystem from the Binance list are also exhibiting sharp price movements. For example, volatile price movements throughout October made LUNA question what to do. LUNA dropped 70% after an impressive 3-fold rally in September. If market conditions continue like this, sideways movements will most likely explode in a random direction.

LUNA price is currently trading at $2.49. The downtrend showed a balanced tapering pattern on the Volume indicators. The pattern shows that the strength of the downtrend is decreasing. The bulls are back for reinforcements on the RSI on both hourly and daily timeframes.

Putting these factors together, there is a fair chance that LUNA price will unfailingly rally to the $5.00 congestion zone, according to the analyst. A break above the $2.80 rise would be the catalyst to trigger such a move. On the contrary, if the bears break the $1.96 lows, investors should expect an actual additional drop to the $1.75 region, such a move would result in a 35% drop.

ADA is on the rise with this news

The Cardano Foundation is gearing up for the Web3 expo in Las Vegas, October 10-13. The conference brings together all of Web 3.0 and the metaverse at Wynn Resort & Casino. Prior to the conference on October 8 and 9, the Cardano Foundation will participate in the cNFTcon event. Jeremy Firster, the organization’s stakeholder leader and senior officer, will lead the ecosystem.

On the technical side, ADA price formed a falling wedge after a large biased move. The upper trendline marks a series of higher lows, while the lower trendline connects a series of lower lows. When the two lines converge, the ADA price consolidates. A decreasing process volume characterizes the smooth side-to-side movement at the top of the pattern. To confirm the wedge, Cardano price must break out of the pattern along the upper trendline before the lines converge.

As ADA price climbs above the wedge formation, traders should watch for a sharp increase in volume. Also, the MACD indicator is poised to step into the positive zone (above the average line) and further strengthen the bulls’ influence on the price.

A buy signal will come to life when the 12-day EMA (blue) breaks above the 26-day EMA (red). Although the wedge pattern marks an 11% breakout to $0.47, traders can choose to take profits on the 50-day SMA and the 100-day SMA, keeping in mind the general crypto bear market conditions.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Advertisment

Most Popular