Crypto analyst Victor Olanrewaju charts an upward trajectory for the leading altcoin. Analyst Tiago Amaral talks about a route to a new all-time high for RAY. Popular analyst Michaël van de Poppe, on the other hand, expects a breakout rally from LINK .
ETH price forecast: What levels are on the trajectory for the leading altcoin?
On the daily chart, the price of Ethereum is on the verge of falling below $2,500. Although this situation persists, support around $2,345 is likely to help the altcoin rebound. However, if this materialises, ETH will have the $2,790 resistance to contend with.
As we see below, the Balance of Power (BoP) indicator has bounced. BoP measures the strength of the bulls compared to the bears. When the data is decreasing, the bears are in control. But when the BoP rises, the bulls are in control. This seems to be the case at the time of writing. If this situation remains the same, it is possible for the altcoin price to rise to $2,824. In a fairly strong bullish scenario, ETH is likely to rise as high as $3,262. On the other hand, a drop below support would invalidate this trend. A drop as low as $2,115 is on the cards for ETH in this scenario.
RAY price forecast: The highest price since 2022 is on target!
Raydium (RAY)’s EMA lines show that all EMAs are holding below the current price. Also, the shorter-term EMAs are hovering above the longer-term ones. These, in turn, point to a bullish setup for the altcoin. This alignment signals a strong upside momentum with buyers in control in the short term. If this bull trend continues and the RSI stays below the 70 overbought threshold, it is possible that RAY could surpass $3.62 to reach its highest price since 2022.
However, in case of an uptrend reversal, RAY is likely to test support at $2.94. If this support level fails to hold, it is possible that the altcoin price will continue to fall towards $2.65.
LINK price forecast: Altcoin is ready for a breakout!
Chainlink may be approaching a breakout in light of technical indicators and recent developments. The altcoin is moving upwards, forming a triangle. This setup has caught the attention of analysts as LINK approaches an important horizontal resistance between $12 and $13. Because, historically, this region has been a formidable obstacle for the asset. Also, it has experienced many failed breakout attempts here. Popular analyst Michaël van de Poppe says for LINK, accompanied by a chart, ‘Chainlink is preparing for a significant exit.’
Technical analysis of LINK shows a strong breakout scenario. The altcoin price tested the resistance level. The RSI remains below the overbought zone. This suggests that LINK still has room for an upside move. Also, the trading volumes support the possibility of continued interest in LINK. However, the MACD indicator shows minimal momentum. The RSI is at 47.88, reflecting a slightly bearish bias, indicating a neutral outlook in the short term.
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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