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The crypto market analysis channel CryptoBusy predicted that Bitcoin (BTC) could rise to as high as $36-$37K in the next few weeks. In the video, the analyst also labeled the Layer-2 crypto Polygon (MATIC) as a good long-term investment opportunity. However, there were no technical signs on Cardano’s (ADA) charts that suggested its price would rise soon.
Bitcoin (BTC)
According to the CryptoBusy analyst, BTC’s price retested a major support and resistance zone over the last week. The crypto’s price was, however, able to bounce off of the crucial zone. Should BTC’s price break above the $28K level, it will be a good sign for the market leader’s price.
According to CryptoBusy, BTC’s price continuing to climb after breaking $28K will result in its price rising to between $36K and $37K. The analyst did warn that BTC’s price may not have a clear path to the $36K-$37K zone, and will have to overcome the resistance levels at $32K and $34K. He also added that this move will take a couple of weeks.
CoinMarketCap indicated that the market leader’s price was able to conquer the $28k level over the past 24 hours of trading following a more than 8% price increase. As a result, BTC was worth about $28,920 at press time.
Fantom (FTM)
FTM has broken out of a potential wedge pattern on its daily chart over the past week, noted the analyst. Furthermore, the altcoin’s price is currently resting on a crucial support level which it has tested several times in the past. According to CryptoBusy, a buy opportunity for FTM will be when its price reaches $0.30. Should this happen, the analyst predicted the altcoin’s price will rise to $0.50 in the following weeks.
At press time, FTM was trading just below $0.30 at $0.29. This came after the altcoin saw a decent 11.71% increase in its price throughout the past day. As a result, FTM’s weekly performance was up by over 9%.
Cardano (ADA)
The analyst was slightly bearish on ADA and noted that there is almost no buy pressure on the Ethereum-killer’s charts. Nevertheless, CryptoBusy predicted that a break above $0.3 will result in ADA’s price rising to approximately $0.35.
He did warn, however, that the $0.30 mark may act as a strong resistance level for ADA’s price in the next few weeks. Overall, the analyst will be staying out of ADA and will not be purchasing ADA actively until it breaks above $0.30.
At press time, ADA was still trading below $0.30 at $0.279. The altcoin was, however, able to record gains of more than 7% over the past day. Meanwhile, ADA’s 24-hour trading volume saw a 77.34% increase, which left it standing at around $283 million.
Polygon (MATIC)
CryptoBusy’s analyst is bullish on MATIC, and shared his belief that it has good long-term prospects. He went on to note that $0.95 will be a key level to watch and that MATIC’s price may look to retest this level soon. On the other hand, there is nothing currently preventing MATIC from dropping to $0.40.
To mitigate the risk of substantial losses, the analyst stated that he will be Dollar Cost Averaging (DCA) into MATIC. He will continue with this investment approach until more bullish pressure appears on the altcoin’s charts.
MATIC was trading hands at $0.65 after it saw a 6.93% price increase over the past day. Despite this, MATIC’s weekly performance was still in the red zone at -1.03%. Since MATIC reached its all-time high (ATH) of $2.92 in December of 2021, the altcoin’s price has slipped by more than 77%.
Render Token (RNDR)
RNDR was called the most bullish of all the altcoins in CryptoBusy’s latest analysis. In the video, the analyst highlighted that RNDR’s price was resting on a key support as well as a positive trend line. His bullish targets for RNDR are $2.20 and $2.60.
Once again, the analyst warned that there is still the possibility that the altcoin’s price may tumble. This will be especially true if BTC drops significantly in the next few weeks. Should this happen, the analyst predicts RNDR’s price could drop to as low as $1.70 or even $1.30.
Over the past 24 hours, RNDR was, however, able to climb above the $2.20 bullish target set by CryptoBusy. This meant that the crypto was worth about $2.33 at press time after a 16.11% price rise.
Aptos (APT)
The analyst will be staying clear from APT for the foreseeable future. He added that he will not be watching APT until its price breaks back above $9.30.
APT saw a more than 5% price ascent over the past 24 hours, but was still trading below $9.30 at around $7.18. The altcoin’s 24-hour gain pushed its weekly performance further into the green to +13.57%.
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