A lot of action is taking place in the crypto world. PayPal will soon allow users to buy and sell crypto, the launch of ETH 2.0 is approaching, and JP Morgan has launched a blockchain unit by the name of Onyx.
The continuing surge of DeFi and the sheer amount of crypto/blockchain projects being developed means it’s never a dull day. Of course, the actions taking place can have an impact upon the prices of your favorite coins. Let’s examine some price predictions for BTC, which turns 12-years-old tomorrow, and some other altcoins.
BTC / USD – PRICE PREDICTION
BTC price has started showing a good reversal in a short time frame from the support area of $13,000.
Next targets for scalping would be $13,309, $13,452, and $13,866.
If BTC can flip $13,866 to support by consolidating in that region, we can start targeting the all-time high price of $20,000 since there is no major resistance between $14,000 and $20,000.
Failure to hold the support of $13,000 will lead to a BTC price move down towards $12,000.
Recommendation: Long if candle closes $13,000 with targets of $13,309, $13,452, and $13,866 and short if candle closes below $13,000 with targets of $12,800, $12,600, $12,400, and $12,000.
WAVES / USD – PRICE PREDICTION
WAVES has entered a medium time frame support of $3. A decent bounce towards $3.30 is expected. If $3.30 can be flipped to support, we can see a WAVES price rally towards $3.43 and $3.60.
Failure to hold the current zone could result in a pull back towards $2.81, which will be a good price for placing longs.
Recommendation: Long from $3 with stop loss just below $2.97 and target price of $3.11, $3.20, and $3.30 (good risk to reward ratio). Short if price breaks the support at $2.97 with target price of $2.81.
YFII / USD- PRICE PREDICTION
YFII price failed to hold the support at $1,850 and has dropped down to the support of $1,250 as expected. Last time, it bounced more than 50% from this support zone, and we could see similar potential price action this time too.
Recommendation: Long from current price with targets of $1,381, $1,419, $1,474, and $1,543. If it can consolidate around $1,543, we can see a move towards $1,743. Failure to hold the current support will lead the price below $1,000. (Short if current support of $1,200 region breaks with a target below $1,000. Look for few successive 4 hour candle closures below $1,200 as a confirmation for opening shorts.)
FIL / USDT – PRICE PREDICTION
Filecoin has a total supply of 2 billion coins, out of which only 23.8 million are in circulation. It’s fully diluted valuation is over $66.4 billion, which is extremely high. The market saw an extremely high launch FIL price on Binance and once more coins get released in circulation, FIL price is expected to go down drastically.
It is currently trading at a weak support zone of $34.
Recommendation: Short from current price of around $34 with addition of shorts till $36 with a stop loss above candle closure of $36.10 and target of $33.10, $30.70, $28.30, and $24.80. Failure to hold the price of $24.80 can lead to a drop below $20. Long if candle closes above $36.10 with a target of $40.
NEO / USD – PRICE PREDICTION
NEO was widely discussed in China’s National Blockchain Network, which resulted in a great rally for this “Ethereum’s competitor by China” coin. However, in the past month, it has lost most of its gains by dropping from over $25 to below $15. NEO is expected to bounce from its 200 day exponential moving average support around $15 with a target of $17.57. Failure to hold this support could result in a NEO price drop towards $13.
Recommendation: Long from $15 (200 EMA support) with targets of $15.90, $16.50, and $17.06 with a stop loss below 200 day EMA. Short if candle closes below $14.89 with a target of $13.10.
LINK / USD- PRICE PREDICTION
LINK is trading between the support and resistance of $10.80 to $12 with an upper resistance at $13.70 and a lower support of $9. Breaking $12 (long) resistance will lead to a LINK price jump towards $13.70 and breaking $10.80 (short) support will lead to a drop towards $9.