Crypto analyst Aaryamann Shrivastava predicts BANANA could head to $65. Analyst Abiodun Oladokun talks about the possibility of a rally for IMX. Analyst Manish Chhetri says that the BOME price is preparing for a 20 percent rally. We have compiled analysts’ predictions for these 3 altcoin projects for our readers.
BANANA price prediction: Altcoin keeps support intact!
Banana Gun (BANANA) price fell 21% in the last two weeks, from $ 72 to $ 56. Meanwhile, in the last two days, the Telegram cryptocurrency has remained above the critical support level of $55. This level was tested as a resistance level multiple times throughout June and July and is now being tested as a support. If accumulation starts in the coming days, a reversal from this support could send BANANA to the psychological resistance of $65.
Consolidation below $70 is a possible outcome for the coming days. However, if the $56 support is lost, a drop to $47 is possible. This could invalidate the bullish thesis and cause BANANA’s price to struggle to recover.
IMX price forecast: Liquidity inflows confirm a sustained rally!
Data from Immutable (IMX)’s price action on the daily chart confirms the possibility of breaking above the resistance level in the near term. For example, the token’s rising Chaikin Money Flow (CMF) signals a steady inflow of liquidity needed to increase its value. Currently, IMX’s CMF stands at 0.11 and broke above the zero line on July 21 for the first time since May 7. This indicator measures the flow of money in and out of an asset. When it moves above the zero line, it is a bullish signal. It indicates that buying pressure is high and usually heralds a sustained price rally. If IMX’s CMF continues to rise and the current buying pressure is maintained, the price of IMX will rise to $1.77.
However, if profit-taking activity starts at this level, the token price may trend lower towards the support level, invalidating the bullish thesis above.
BOME price prediction: The altcoin is set for a rally!
Book of Meme (BOME) price retreated last week, testing its daily support at $0.00791, which coincided with the uptrend line on Friday. It then rallied 19% over the next three days. As of Tuesday, the previous daily resistance level is struggling at $0.0108 and the current price of BOME is showing a daily increase of 9.2% at $0.0011. If altcoin closes above the $0.0108 daily resistance, it could rise 20% to retest its weekly resistance at $0.0130. On the daily chart, the Relative Strength Index (RSI) and Awesome Oscillator (AO) indicators are trading above the 50 and zero neutral levels, respectively. This strong momentum suggests a strong bullish sentiment in the market.
Data from CoinGlass shows that the future Open Interest (OI) in BOME on exchanges has increased. The chart below reveals that BOME’s OI rose from $61.88 million on Saturday to $104.80 million on Monday. This indicates that new or additional money is entering the market and new purchases are taking place
Although on-chain metrics and technical analysis point to a bullish outlook, if BOME’s daily candlestick closes below the daily support area of $0.0079, the bullish thesis will be invalidated by forming a lower low on the daily timeframe. This development could trigger a 20% drop in the altcoin’s price, causing it to revisit the July 5 low of $0.0063.
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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Yazının devamı için Three Analysts Predict a Rally for These 3 Altcoins: Targets Set!