Solana, LUNC, and Ripple have been making the headlines with news of lawsuits and bankruptcies since last year. Due to low volatility, prices start the new year below critical resistances. Let’s take a look at what levels machine learning algorithms expect for these three altcoins at the end of January.
Can Solana (SOL) make a new move in January?
Solana hit its lowest level since February 2021 last week, but after nine days of sustained declines, its price has now rebounded above resistance from under $8 to $14 as of Jan. Some experts attribute the current increase to Solana community members’ interest in Bonk (BONK), the new meme coin project that distributed roughly 50% of the 56 trillion token supply to users last week.
As for the forecasts, machine learning algorithms at PricePredictions predicted the SOL price to be $13.73 at the end of January. Currently, Solana is trading around $13.50, down 2% in the last 24 hours. This means that the algorithm expects sideways movements in Solana by the end of January.
On the technical side, the indicators are mostly bullish. The summary of the indicators aligns with the ‘buy’ sentiment at 11 and the moving averages point to ‘buy’ at 9.
Machine learning algorithms predict sideways moves for XRP
As we enter the third year of litigation between Ripple and the SEC, indicators are being watched closely to predict the future value of XRP. PricePredictions’ machine learning algorithms predict the price of XRP to be $0.339721 by the end of January.
Specifically, crypto analyst Michaël van de Poppe suggested that XRP faced tough resistance at the $0.37 level, and based on recent price movements, he would expect to see it regain the $0.343 level relatively quickly. The analyst noted that he would like to see XRP hold $0.33 before an upside rally on Jan.
Really got a ton of liquidity with XRP. It didn’t drop to $0.265, but losing $0.34 accelerated the process on thin order books. Preferably I would like to see $0.33 held and then we can rally upwards.
Leftana moves horizontally, what about LUNC?
Terra LUNA and UST were among the major developments that triggered the 2022 wave of bankruptcies. Specifically, after the scandalous collapse, the LUNC community applied different strategies to regain previous highs, along with the support of the overall market. Indeed, initiatives have helped LUNC rebound over the past year.
As a result, its machine learning-based algorithms predict that LUNC will likely experience a minor rally for most of January. The platform specifically predicts that LUNC will trade at $0.000155 on January 31, 2023. The 30-day price forecast represents gains of approximately 0.8% from LUNC’s value at time of publication.
After the epic collapse of the Terra ecosystem, it was predicted that related tokens like LUNC would be completely wiped out of the market. But community efforts and development activities manage to keep hopes of the Terra ecosystem revival alive. As a result, the network is accelerating LUNC incineration to make the project attractive and increase utility. While the burning activities seem to increase the value of the asset, the crypto exchange Binance’s move to delay sending the LUNC transaction fee burn contributions until March 2023 has impacted the price. cryptocoin.comWe have reported the developments in this article.
