Closely following crypto analysts are predicting a massive rally for 4 altcoins this year in anticipation of the planned events.
These 4 altcoins are giving bullish signals
A closely followed crypto analyst says Decentraland (MANA), ApeCoin (APE) and Frax Share (FXS) are setting the stage for massive rallies. Nicknamed analyst Cantering Clark told his 156,700 Twitter followers that metaverse protocol Decentraland is showing a short bearish squeeze, signaling even more upside. The analyst said in his statement:
“GameFi and metaverse compression, MANA has the potential to be even more severe on the upside, given the OI [Open Interest] I have to guess is almost twice as high as it normally was before a bunch of shorts and hedges were tagged on Barry. . This compression has more fuel.
A short squeeze happens when traders who borrow units of an asset at a certain price are forced to buy back the assets while acting against trading biases in hopes of selling them at a lower price to pocket the difference. As stated by Kriptokoin.com, MANA is momentarily valued at $0.41, up 38% from this month’s low of $0.295.
Metaverse and GameFi wind
Looking at APE, Cantering Clark says the Bored Ape Yacht Club community will likely continue upwards after breaking the sudden resistance of the native token. APE is worth $4.52 at the time of writing. A move towards the analyst’s target of $7.20 indicates a potential upside of around 60% for APE. In his statement, the analyst said:
“A close at $4.30 per week is currently set with just 30 minutes left. If Metaverse and GameFi are to keep zipping, APE will catch the wind in their sails.
Finally, he says that FXS, the governance token of the Frax stablecoin protocol, is making a solid bottom and can be prepared for a breakout. Instantly, FXS changes hands at $5.53. The analyst said in a statement:
“I see FXS catching a bid again and there is a granite bottom on this three-day chart. I’m betting on this separation and positioning accordingly.
Event anticipation triggers rally
A closely followed crypto strategist is predicting a massive Litecoin (LTC) rally this year in anticipation of the halving event scheduled for August. Nicknamed analyst Rekt Capital told his 331,800 Twitter followers that Litecoin tends to explode before halving based on historical price movements.
Looking at Litecoin’s pre-halving rallies in the past, the analyst suggests that the peer-to-peer payments network could maintain its bullish momentum until the second quarter of this year. In his statement, the analyst stated:
“LTC pre-halving rallies look like they could stretch out over time. If this upcoming LTC pre-halving rally lasts twice as long as the previous pre-halving rally, this rally will last 365 days, which will be combined with the May 2023 peak.”
A move towards Rekt’s target shows the potential for an increase of over 82% from current prices for LTC. In the medium term, Rekt says LTC is showing signs of strength as it prints a bullish continuation pattern on the monthly chart. At the time of writing, Litecoin is changing hands at $82.28.