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An analyst from Crypto Banter predicted in a video this morning that several cryptocurrencies may present long opportunities in the coming few days. In the analysis, he mentioned that trade opportunities for Bitcoin (BTC), Stacks (STX), 1inch (1INCH), Arbitrum (ARB), Uniswap (UNI) and several other altcoins may pop up in the upcoming few days.
The analysis indicated that BTC’s price was facing a critical resistance level. The weekly chart showed that the 9 and 18 EMA lines were acting as support, along with the top side of the Gaussian channel at around $28,400, noted the analyst.
The market leader needs to hold above this level in order for it to maintain its bullish momentum. If the crypto fails to hold above this level and breaks back into the Gaussian channel, it could indicate a potential shift in the overall market trend, according to the analyst.
The DXY, which represents the US Dollar’s value against a basket of other currencies, was discussed in the analysis as well, given that it could potentially impact the crypto market. If the DXY completes its breakdown and holds below the 100.78 level, it could lead to a rally for riskier asset classes, including cryptocurrencies, according to the analyst.
He also shared potential trade setups for several altcoins. In the video, possible trading strategies for STX, 1INCH, ARB, UNI, Sui (SUI), and Ocean Protocol (OCEAN) were revealed.
When looking at STX, he noted that the altcoin was reclaiming the 200-day MA and potentially entering an uptrend, with an opportunity to target the next major resistance at $1. Meanwhile, 1INCH recently experienced a significant breakout above a key resistance level and may target the next resistance levels at $0.58 and $0.69, according to the analyst.
He further shared that ARB was in the process of breaking out of a resistance zone and could potentially target $1.62 in the next few days. Long opportunities for UNI may also open up, as the Crypto Banter analyst mentioned that it was attempting to reclaim the 200-day MA line. Should this happen, it could rise to as high as $1.33.
SUI was able to overcome its 200-day MA line and was consolidating above the technical indicator at press time. As a result, the analyst predicted that the crypto’s price could rise to $1.45. Meanwhile, OCEAN’s was attempting to break a major resistance zone at $0.3940, but predicts that it may correct to the 200-day MA to set a new higher low.
In addition, he also identified potential trade entries for Optimism (OP), Aptos (APT), Cosmos (ATOM), Solana (SOL), Trias Token (TRIAS), Perpetual Protocol (PERP) and Trader Joe (JOE).
According to the Crypto Banter analyst, OP was showing potential for a deviation back into a positive trend, and could target $1.51 and $1.68 if it holds above $1.4785. In addition, he predicted that APT’s price could rise to $20 in the long-term and potentially higher, as the altcoin recently overcame a key resistance level.
The analyst did, however, warn traders and investors looking to go long on ATOM. At the time of the analysis, the altcoin was approaching a resistance zone, which may lead to the crypto’s price dropping to $15.40 in the coming few days. Meanwhile, TRIAS has been in a positive trend and technicals suggested that this may continue for the next few days.
Meanwhile, PERP may look to rise to $0.92 if it is able to break above and maintain a position above the 200-day MA, forecasted the analyst. He also advised that investors and traders wait for SOL to break above $27 before going long on the Ethereum-killer. Should SOL be rejected by the $27 mark, it may be at risk of falling to $21.70.
Lastly, the Crypto Banter analyst predicted that JOE may follow the same trend as Avalanche (AVAX), given that Trader Joe is an Avalanche ecosystem coin. Therefore, the analyst speculated that JOE could rally if AVAX rallies in the coming few days.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.