Altcoin Indicator 'Has Changed To Green,' Says Analyst: 70% Higher Is 'First Real Target'
Portfolio Pulse from Khyathi Dalal
Cryptocurrency analyst Moustache predicts a 70% upside for altcoins based on the Gaussian channel turning green, a signal historically indicating positive momentum. Altcoins have also broken out of a two-year Falling Wedge, entering a bullish consolidation phase. Despite Bitcoin ETF's lackluster impact, altcoins like Solana (SOL) and Chainlink (LINK) are gaining attention, with predictions of a Q1 Altcoin Hype Cycle and a potential market cap continuation towards $2.2T.
February 06, 2024 | 10:07 pm
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POSITIVE IMPACT
Chainlink (LINK) is identified as primed for further gains, despite facing a significant resistance level at $20.
Chainlink's recent 13% pop and the anticipation of overcoming a significant resistance level indicate a bullish outlook. The specific mention of LINK and its potential for further gains underscore its relevance and the positive short-term price impact.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Solana (SOL) is highlighted as a strong performer, expected to continue its positive trajectory from the Q4 2023 altcoin hype cycle into Q1.
Solana's mention as a strong performer in the altcoin market, especially with the anticipation of a Q1 Altcoin Hype Cycle, suggests a positive short-term impact on its price. The historical context and analyst support add to the confidence in this prediction.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80