Analyst Announces 3 Altcoins That Will Make Big Rallies!
Ethereum, Avalanche and Solana could be preparing for a rally. A popular altcoin analyst says these 3 coins have reached levels that will add to the bullish momentum. Let’s take a look at Cred’s technical analysis and remember that forecasts are not precise.
These 3 altcoins are ready for the bull market, here’s why its two main competitors. The enigmatic analyst, nicknamed Cred, said he expects the bulls to start a 30% rally from the current price as Ethereum trades below a key weekly support. Ethereum is trading in a crucial price range:
For ETH, I believe a weekly close of $1,930, above $1,940, or around a weekly close is needed. This level is the previous breakout ($1,930). Now it’s acting as a drag… In this climate, it’s generally good to be cautious.
For higher levels, Cred states that $2,000 is critical. The analyst who shared the chart below says:
My attention is on the support of the previous range. The range that could now go above $2,000 has changed to the $2,600 resistance. Looking at the moving averages, I’m sure they will converge in this area. In technical analysis, retracement of long-term support is a bullish signal indicating the presence of demand and potential seller exhaustion. At the time of writing, Ethereum is trading at $1,790.36. For a while, ETH peaked above $1,800 on the day. In doing so, he confirmed that a critical resistance could be broken.
This level will be crucial for Solana to reach $80 soon
Next is Solana (which Cred believes could spark a massive rally, if the bulls can recapture a key support zone) LEFT) exists. From a technical point of view, the analyst identifies 2 critical price levels to reach $80:
The previous resistance level was around $46. To me, that should be settled before we can discuss a move towards $80. Also, it should scale back above $46, which would be a significant move.
Solana is trading at $40.20 at the time of writing. It has since risen slightly over the past 24 hours. However, it was not enough to stay above this level. On the upside, AVAX is trading above a key support level. As such, it looks pretty solid on the tech side, according to Cred. Analyst says AVAX rejects lower lows:
AVAX’s critical one-week low is at or around $23 and will close above this level for the second straight week. That’s enough. At least the support continues.
As you can see, AVAX’s first target is $39 according to Cred’s chart. As we covered in Cryptokoin.com analysis , Avalanche has been trading below $25 for a while.