An analyst predicts a bull run for a large-volume altcoin as crypto markets celebrate the new year. Crypto expert Lisa Walter counts 5 reasons to buy Cardano (ADA). Crypto analyst Kelvin Munene, on the other hand, says that according to technical indicators, in 2023 bulls will prevail in MANA. Popular crypto analyst Michael van de Poppe shares his views on XRP.
Altcoins signaling a bull run: LTC, Cardano, MANA and XRP
“Litecoin (LTC) is in a good position for bullishness”
The analyst, nicknamed Rekt Capital, says that Litecoin (LTC) closes 2022 on a high note. In this context, the analyst makes the following statement:
LTC is successfully retesting the top of its historical accumulation range (green) as support. Monthly close above this green box and LTC will be well positioned to the upside in the new year.
Source: Rekt / TwitterLitecoin closed December at around $70, above Rekt’s historical accumulation range. At the time of writing, LTC is changing hands at $74.59, up 7.45% on the day.
Top 5 reasons to buy Cardano (ADA)
Cardano is a third-generation cryptocurrency that aims to provide consumers with a secure and scalable platform for exchanging digital assets. It is powered by Cardano Blockchain, a technology that aims to make the movement of wealth between users secure, private and efficient. Crypto expert Lisa Walter counts 5 reasons to invest in Cardano (ADA).
Security
Cardano’s Blockchain is secure and hack-proof, with data integrity enabled by a mix of strong encryption, game theory solutions, and secure multi-party computing protocols.
Decentralized finance (DeFi)
Cardano is also developing the decentralized finance (DeFi) ecosystem that allows users to access various financial services such as lending and borrowing. This will aid the adoption of the platform and its native token, ADA.
Scalability
Migrators designed the blockchain to be highly scalable. Thus, it is able to send large volumes of data without losing security or network performance.
Strong alliances
Cardano has already established strategic relationships with a number of industry leaders, including Emurgo, IOHK and the Cardano Foundation. These links will assist in the development and adoption of Cardano technology over time.
Smart contracts
Cardano’s Blockchain enables the creation and implementation of smart contracts that can be used to automate certain procedures and give users additional transaction flexibility.
“Bulls will prevail in MANA in 2023”
Crypto analyst Kelvin Munene evaluates the technical indicators of Decentraland (MANA). MANA opened the day with a positive valuation of $0.0294. This shows that the beginning of the new year was pleasant for altcoin. The price of MANA has risen steadily throughout the day. Also, as the bulls continue to monopolize the market, it is up 5.44% at the time of writing to reach $0.3107.
Market capitalization and 24-hour trading volume reflect market interest. Both rose 5.19% to $575,711,612 and 31.42% to $35,723,297. This shows that the interest in the MANA market is increasing and this will probably drive prices up.
MANA 24-hour price chart / Source: CoinMarketCapThe widening Bollinger Bands of the 4-hour price chart show 24-hour higher trading activity. The upper band is approaching $0.3083 and the lower band is approaching $0.2846. In the midst of increased market volatility, this change gives confidence to the bullish forecasts. Price remained above the upper range. Therefore, it is possible for the bullish move to continue as the bullish strength is formed.
This uptrend is supported by the relative strength index (RSI), which is approaching the overbought territory at the current 63.50 level. The move in this direction is indicative of increased purchasing pressure. This increases the likelihood that prices will rise. On the other hand, the stochastic RSI is currently in the overbought range at 99.14. Therefore, he warns traders that the bullish trend may have reached its limit.
MANA 4-hour price chart / Source: TradingViewThe open mouth of the Williams alligator hints that the uptrend will continue. Green (lips), red (teeth) and blue (jaw) lines converge at 0.3013, 0.3066 and 0.2999, respectively. The price increase, which is beyond the crocodile’s jaws, peaked with an upside green candlestick, indicating that the bullish trend of MANA continues.
“Withdrawn a ton of liquidity from XRP!”
cryptocoin.com Analyst Michael van de Poppe, whose predictions we have included, shared some of his views on XRP. Accordingly, the analyst stated that a ton of liquidity has been withdrawn from XRP. Also, the analyst said that XRP must hold $0.33 to move up.
XRP 4-hour chart / Source: TradingViewCurrently, XRP is trading at $0.3458 after a 2.26% price increase from the last day. However, crypto is still in the red more than 1% over last week.