Analyst: These 2 Altcoins Could Follow the Path of Booming Bancor!
Bancor (BNT) price increased by 70 percent over the weekend, reaching the highest level in the last 19 months. According to crypto analyst Valdrin Tahiri, the two altcoins show similarities with BNT in their price movements.
Cartesi (CTSI) price prediction: Altcoin attempts to breakout
CTSI is the first of two altcoins that will experience increased volatility. The reason for this is the activities that have been present on the network you follow from Kriptokoin.com for a long time. More specifically, CTSI experienced high transaction volume, a large number of active addresses, and a large number of whale transactions. This also includes a low age of destroyed coins. BNT also showed similar signs before moving upwards. Coming to price action, CTSI price has fallen below a descending resistance trend line since May. More recently, the line formed a long upper wick, causing a rejection on October 8. The wick also confirmed the $0.0135 horizontal area as resistance.
CTSI Daily Chart. Source: TradingViewCTSI must break out of the descending resistance trend line and the $0.135 area to start an upward move. If this happens, it is possible for the altcoin price to rise 40% to reach the $0.180 resistance area. On the other hand, failure to do so would likely lead to a 25% decline in the $0.100 horizontal support area.
Holo (HOT) price prediction: Nearing the end of the bullish formation
In the case of HOT, indicators that show the potential for impending volatility; high number of whale transactions, accumulation of wallets holding $100,000 to $1,000,000 worth of tokens, high number of exchange entries, and low age of destroyed coins. As for HOT price action, the bullish altcoin reached a new all-time high in April 2021. However, it has since fallen into a declining wedge pattern. A falling wedge is considered a bullish pattern. So it usually leads to breakages.
HOT price is approaching the convergence point between support and resistance trend lines. Therefore, a decisive move outside the formation is possible soon. The support line of the wedge also coincides with the horizontal support area at $0.00095, increasing its importance. Although the altcoin is trading in a bull formation, the weekly RSI is in a downtrend. If the RSI value is above 50 and the trend is upward, the bulls still have the advantage. If the data is below 50, the opposite is true. RSI is below 50 and declining. So both are signs of a downtrend. Therefore, whether HOT price breaks out of the wedge or turns down from the $0.0095 horizontal area instead will determine the direction of the future trend.
HOT Weekly Chart. Source: TradingViewIn the event of a breakout, HOT could rally to the next resistance at $0.00250, an increase of 150% from the current price. On the other hand, a breakout would likely lead to a 70% decline to $0.00030.
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