ENS, WIF and FTM Price Predictions: Which Altcoins Will Rally Next?
- WBOYOriginal
- 2024-07-02 07:20:39304browse
Crypto analyst Javon predicts a 138 percent rally for ENS. Analyst Victor Olanrewaju points to higher levels for WIF. Crypto analyst Abiodun Oladokun expects a rally from FTM.
Crypto analyst Javon’s analysis of Ethereum Name Service (ENS) price action suggests a 138% rally on the horizon for the altcoin. According to Javon, ENS could soon rally towards the $76.12 price target if it manages to stay above the breakout level without falling below it. This would indicate strong support from ENS bulls and signal the possibility of a continued price rally.
On the other hand, if the current uptrend is maintained, ENS’ next price point is $34.64. However, if the altcoin sees a drop in market activity, this bullish forecast will be invalidated and its price will enter a downtrend towards $30.94.
Looking at WIF price, the daily chart shows that sellers’ exhaustion on June 23 was crucial for dogwifhat (WIF) to bounce. During this period, the price traded at $1.56. Later on, the bulls recognized the fatigue and helped memecoin to create an almost perfect daily green candle. Currently, the $1.56 zone is the support. Also, WIF is looking to break through the resistance at $2.30. If it succeeds, the altcoin price could rise to $2.64. Once that happens, a rally towards $3.21 will be possible.
Meanwhile, the Relative Strength Index (RSI) is 51.45, indicating that the meme coin’s momentum maintains its bullish position. Similarly, the Moving Average Convergence Divergence (MACD) is moving in a similar direction.
The MACD shows whether a trend is bullish or bearish using the difference between the 12 and 26 EMAs. Since the reading is positive, it means that WIF’s trend is bullish. If it continues, this could confirm that WIF’s upward movement is continuing.
However, if Bitcoin doesn’t continue its recent uptrend, WIF may not reach the prices mentioned above. This is largely due to the meme coin’s strong correlation with BTC. In such a case, the altcoin’s price could drop as low as $1.96.
Finally, readings from the cryptocurrency’s price action on a one-day chart confirm the bullish bias towards Fantom (FTM). The Moving Average Convergence Divergence (MACD) initiated a bullish crossover on June 24 and since then, buyers have been in control. This indicator tracks an asset’s price momentum and identifies potential trend reversals. A bullish crossover occurs when the MACD line (blue) intersects the signal (orange) in an uptrend.
It is considered bullish when the MACD line moves above the signal line. Traders use this as an opportunity to enter long positions in anticipation of further price increases. If the FTM buying pressure continues, the altcoin price could rise as high as $0.60.
However, if the FTM hypers start selling more due to the high profits they make from day trading, this could put downward pressure on the price, causing it to fall to $0.58.
The opinions and forecasts in the article are those of analysts and are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.
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