Altcoins
Analysts Predict Major Gains for These Altcoins But Warn Against XRP and ADA
Analysts Predict Major Gains for These Altcoins But Warn Against XRP and ADA
In the context of the recent crisis in the global cryptocurrency market, a recent Crypto Banter Dylan’s Trading Show session has attracted attention with some bold statements about what the future holds for Solana and Ethereum, and with negative sentiment on XRP and ADA.
In recent years, cryptocurrency industry analysts have been discovering and analyzing patterns in the market because it can help them predict future directions. So far, a decrease in BitcoinThe dominance of is considered positive for altcoins.
According to the Crypto Banter Show analyst, this shift could potentially signal more diversified altcoin investments and a bullish market sentiment toward lesser-known chains.
Growth Focus: Altcoins to Watch
Despite being cautious about investing in so-called “dead coins” like XRP and ADA, the Dylan’s Trading Show analyst expressed a more optimistic outlook for coins like Solana and Ethereum.
The analyst noted that if Bitcoin loses its dominance, a series of massive upward moves could occur for these altcoins.
In particular, it provides that Solana could find support levels around $137-139 if the market maintains the current momentum without breaking major technical barriers.
As for EtherealAnalyst reveals that ETH is approaching a critical moment at the 200-day moving average (MA). If Ethereum breaks and holds this level, it will trigger a domino effect to the upside, positively impacting small-cap altcoins.
Should You Stay Away From XRP and ADA?
While the analyst referred to XRP and ADA as “dead coins,” meaning they may not have much growth potential in the short term, it is worth noting that these assets are still seeing their share of optimism and upside from their respective communities.
Earlier today, an analyst revealed XRP’s potential to experience a massive rally due to the emergence of “one of the tightest monthly Bollinger Band squeezes in its history.” According to the analyst, the last time this indicator was seen, “XRP It rose by 60,000%.”
On the other hand, ADA is on the verge of a new development with the upcoming Chang Hard Fork. IntoTheBlock States“before its previous hard fork in 2021, ADA has increased by 130%, from $1.35 to $3.10 in just one month.” This signals a possible price surge for ADA, reminiscent of past gains following significant upgrades or forks within the blockchain.
Overall, the above asset updates suggest potential future volatility and price increases for both XRP and ADA, contradicting the analyst’s view that they are “dead coins.”
Featured image created with DALL-E, chart from TradingView