Matthew Dixon, CEO of Evai Crypto Ratings, among others, shares his bullish hopes for ALGO. Other experts expect strong bullish momentum for these altcoins, based on the price action in recent weeks.
Evai CEO praises ALGO: A promising altcoin
Matthew Dixon published a post on Twitter earlier today about altcoins on his radar. In his post, he revealed that the altcoin he is closely interested in is Algorand (ALGO). He also mentioned that Algo is a “promising project”.
#ALGO is such a promising project and is one of my picks for a potential powerful rebound. They have amazing Tech and are well funded. From a chart perspective, the correction down is almost complete. Well worth DCA IMO #Evai pic.twitter.com/QgGmS8KF8f
— Matthew Dixon – CEO Evai (@mdtrade) May 15, 2023
In addition, the CEO is keeping an eye on the ALGO/USDT daily chart. Accordingly, he shared that he expects the altcoin’s downside correction to end soon. He also advised ALGO traders to consider the DCA (Dollar-Cost Average) strategy when trading.
Dixon also says it’s one of ALGO’s top picks when it comes to choosing an altcoin that will rebound quickly. His reasons for preferring ALGO over many other altcoins include the project’s “incredible technology” and well-funded status.
Famous analyst Dark Defender predicted an 800% rally for XRP
Among the prominent price predictions of recent times is the popular crypto analyst Dark Defender’s XRP target of $3.82. The analyst suggests that this breakout will likely start from now until August.
Dark Defender also noted that the XRP community has been quiet lately. He interpreted this as one of the indicators that XRP is ready to make a debut.
I've never seen the #XRPCommunity silent this much.
This means #XRP is ready.
Based on our pattern, the break is imminent anytime from now to #August.
When the resistance line is broken, XRP will first hit $1.33 & then $3.82
I trust #Ripple, XRP
Chin up; our day is near. pic.twitter.com/KdpjzPCS0M
— Dark Defender (@DefendDark) May 13, 2023
The analyst points to the weekly view of the XRP chart from a technical point of view. He says that a historical pattern shows that XRP will exit after the 13-week candle close. This will be in mid-August.
The crypto analyst mentioned that the rally could happen in any week leading up to the end of August. According to Dark Defender, XRP will cross the critical resistance line upon breakout. It will then lead to the first target of $1.33. He stated that the next target to follow is $3.82. This prediction reveals an 800% price increase in XRP price.
Dogecoin daily transactions hit record high, surpassing Bitcoin
Alongside XRP and ALGO, Dogecoin is on the verge of a major breakout, according to technical analysts. Dogecoin transactions peaked at 650,000 on May 15, surpassing Bitcoin and Litecoin.
The increase in on-chain activity on the Dogecoin network since May 13 has triggered a strong recovery in its price. DOGE price climbed to $0.07360 early Monday.
According to technical analyst Ekta Mourya, Dogecoin is now poised to make a strong exit. According to the analysis, it is likely to face immediate resistance at $0.0783, a level that acted as support throughout April.
The Fibonacci retracement from $0.1600 in November 2022 to $0.0622 in mid-March 2023 sets key resistance levels for Dogecoin. However, there are three key resistances on the way to the December 2022 high of $0.1105. These are at $0.1105, $0.0850 and $0.0885, Dogecoin should surpass $0.0991 from here on out.
In the bearish case, if Dogecoin price breaks below the $0.0682 support, it will invalidate the bullish thesis. Thus, a drop to the March low of $0.0622 is likely again.
GALA price is on the rise with these two important altcoin news
Airdrop, partnership, update, investment etc. news triggers a rise in altcoin prices. cryptocoin.com As we reported, GALA’s Version 2 airdrop event is now on the agenda. All holders of GALA V1 tokens will be eligible to collect the V2 airdrop after the snapshot.
REMINDER: We are ~12 hours away from the snapshot for v2 $GALA!
GET YOUR TOKENS OUT OF SMART CONTRACTS OF EXCHANGES THAT ARE NOT SUPPORTING v2.
Countdown here: https://t.co/bYLqKPPDAa
More info here:https://t.co/GBiUvNbz18
— Jason Brink aka BitBender (@BitBenderBrink) May 15, 2023
It still gained 5% in the 24 hours prior to this news. However, on the long-term chart, it is moving in a downtrend that started in February 2022. The token started to recover at the beginning of 2023, with a 217% rally in the first week of January and a 68% rally in the second week of March. With a definitive close above the downtrend line, GALA price will be ready for a similar price rally in May.
Critical resistances are at $0.0592, $0.0879 and $0.1320, which are key levels for GALA throughout the second half of 2022. In the event of a decline, GALA price will decline to $0.0200, a level previously seen in early 2023.
“WOO Network (WOO) is on an amazing bull ride”
According to current analysis by technical analyst Kelvin Munene, the price of WOO Network (WOO) is up over 5%, preparing for a strong bull market. WOO recently reached $0.2395 from $0.2195. This increase shows no signs of slowing down as the bulls continue to dominate the market, causing the price to surge 5.60% to $0.238.
Moreover, the bullish trend in the WOO/USD market will continue as the Bullish Bearish Strength (BBP) indicator moves into the positive territory at 0.01535795. This bullish trend means that buyers dominate the market and may continue to push prices up. As a result, WOO continues to rise with rising prices, increased market capitalization and investor demand.
