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Analyst Predicts Big Gains for These Altcoins, But Warns Against XRP and ADA
Analyst Predicts Big Gains for These Altcoins, But Warns Against XRP and ADA
Amid the recent downturn in the global cryptocurrency market, a recent Crypto Banter Dylan’s Trading Show session has garnered attention with some bold claims about what’s next for Solana and Ethereum and some negative sentiment about XRP and ADA.
Over the past few years, cryptocurrency analysts in the industry 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 good for altcoins.
According to the Crypto Banter Show analyst, this shift could signal a more diversified investment in altcoins and a market bias towards lesser-known chains.
Focus on Growth: Altcoins to Watch
Despite caution against investing in what are labeled “dead coins” like XRP and ADA, the Dylan’s Trading Show analyst expressed a more bullish outlook for coins like Solana and Ethereum.
The analyst noted that if Bitcoin loses dominance, a series of major upward moves could occur for these altcoins.
In particular, it predicts that Solana could find support levels around $137 to $139 if the market continues its current pace without breaking key technical barriers.
As for EthereumThe analyst reveals that ETH is approaching a critical juncture at the 200-day Moving Average (MA). If Ethereum breaks and holds this level, it will trigger an upward domino effect, 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 bullishness from their respective communities.
Earlier today, an analyst revealed the potential for XRP to experience a major 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 went up 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 surged 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 XRP and ADA, contradicting the analyst’s view that they are “dead coins.”
Featured image created with DALL-E, chart from TradingView