The 12 altcoins, which are included in separate analyzes by blockchain analytics firm Santiment and crypto analyst Cheds, may be preparing for drastic moves in the coming days.
Santiment expects boom for 7 altcoins due to loaded shorts
The blockchain analytics firm says it expects bullishness on the seven altcoins that are currently heavily mentioned. Santiment says Solana, Hedera, and ZCash are some of the cryptocurrencies poised to recover due to heavy shorting. Other altcoins expected to rise for the same reason, according to firm analysts: DigiByte (DGB), Helium (HNT), Kava (KAVA) and Kusama (KSM). The report includes the following statements that support the upside view:
Investors are aggressively shorting altcoins today, and some cryptos may see hefty short liquidations. Based on the extreme anticipation of falling prices, if altcoins gain any momentum, DGB, HBAR, HNT, KAVA, KSM, SOL and ZEC will be candidates for minor exits.
Cheds reveals forecasts for Cardano, XRP, Dogecoin and 3 coins
The mysterious crypto analyst says in a new interview with Scott Melker that ETH has a “clean trigger level” of around $1,420-1,430, which would have surpassed both the previous support and the 200-day moving average (MA). Cheds also points out that XRP is currently at a critical price point:
If the XRP bulls do not take action at $0.3416, it will not be good. This is an ideal starting point to take action. From here, we can perhaps see the $0.38 to $0.39 zones. If not, then you’re in real trouble because look at the long shadow below. This is when buyers step in, rejecting lower prices and breaking above the losing support.
Cheds also stated that Dogecoin (DOGE) is not looking good. He said low volatility points to the $0.05 or 0.057, $0.058 region. DOGE is currently trading above $0.7. If the analyst’s predictions come true, this would mean a drop of around 30% for Dogecoin.
Crypto analyst says he will wait a little longer before making moves on Cardano
After looking at the ADA chart, the analyst says it might be interesting to take a short position if the price reaches the $0.30 range again. As for Solana (SOL), Cheds says “the biggest jumps come in downtrends.” The analyst says he feels “constructive” for SOL, which is trading above $11-11.50.
Finally, Cheds says Polygon (MATIC) needs support “to build the graph and the stair stepper.” The most important support level for MATIC is $0.72 and the next potential level to watch out for is around $1.06. cryptocoin.comWe have included the Polygon and Samsung partnership announced today in this article.