Crypto analyst Manish Chhetri expects strong runs for ZIL to two targets. The analyst also predicts MATIC to perform similarly well. Analyst Ibrahim Ajibade predicts a relief run for the popular meme coin Shiba Inu. We have compiled analysts’ predictions for these 3 altcoin projects for our readers.
ZIL price prediction: Altcoin shows bullish potential!
The price of Zilliqa (ZIL) broke above a falling wedge pattern on Monday and rose slightly by about 1.7% the next day. This pattern was formed by combining multiple highs and lows with trend lines from early March to mid-July. In addition, the formation of a lower low on the daily chart on July 5 contrasts with the higher Relative Strength Index (RSI) indicator over the same period. This development is called a bullish divergence and usually leads to a trend reversal or a short-term rally.
If ZIL closes above the daily resistance at $0.0182, it could rise 15% to retest its next daily resistance at $0.0212. Also, if the bulls are aggressive, the overall crypto market outlook is positive and ZIL could close above $0.0212. Thus, it could realize an additional 18% rally to retest its weekly resistance at $0.0251.
However, if ZIL’s daily candlestick closes below $0.0151 and forms a lower low on the daily timeframe, it could signal a shift in market dynamics favoring a bearish bias. Such a change could invalidate the bullish outlook and lead to a 16% drop in the altcoin’s price, causing it to retest the September 21, 2020 low of $0.0126.
MATIC price forecast: Altcoin shows potential for a rally
Polygon (MATIC) price broke above a falling wedge pattern on July 13, rising 3.3% in three days. This pattern was formed by combining multiple highs and lows with trend lines from late January to mid-July. If the upper trendline of the falling wedge pattern holds as retracement support in the $0.490 to $0.512 area, which coincides with the daily support level, MATIC could rise 19% targeting the next daily resistance at $0.589.
The daily chart’s Relative Strength Index (RSI) briefly broke below the 50 average level, while the Awesome Oscillator (AO) is on its way back above its neutral level of zero. If the bulls are indeed making a comeback, both momentum indicators should regain their positions above their respective average levels. This would add a tailwind to the recovery rally. If the bulls are aggressive, the overall crypto market outlook is positive and MATIC closes above $0.589, it could rally an additional 25% to retest its weekly resistance at $0.738.
According to IntoTheBlock’s In/Out of the Money Around Price (IOMAP), approximately 4,190 addresses accumulated 25.68 million MATIC tokens at an average price of $0.507. These addresses bought Polygon between $0.498 and $0.512. This made it an important support zone. Interestingly, the $0.498 to $0.512 zone mentioned from a technical analysis perspective coincides with the IOMAP findings. Hence, making this zone an important reversal area to watch.
SHIB price prediction: Bulls target $0.000020!
Shiba Inu (SHIB) price showed remarkable resilience on the daily timeframe on July 20. As of the last data, altcoin climbed to $0.0000183, registering a 44.39% increase in 15 days, followed by a slight correction. Key technical indicators point to a cautious but optimistic outlook for SHIB. The parabolic SAR indicator is currently pointing to an upward trend. Moreover, the dots are positioned below the price candles, indicating a continuation of the bullish momentum. The current support level is set at $0.000015644, which has been successfully tested in recent sessions and provides a solid base for potential upside moves.
The Detrended Price Oscillator (DPO), designed to eliminate long-term trends, is at 0.00, indicating neutral momentum. While this neutrality is not a strong indication of an overbought or oversold condition, it suggests that recent price stability could pave the way for a breakout if positive market sentiment persists. As SHIB continues to consolidate, the primary resistance level to watch is $0.000020. A break above this level could trigger further bullish activity and potentially lead to new highs.
Conversely, the immediate support level remains at $0.000015644. A break above this support could signal a short-term bearish trend, pulling the price down to test lower supports.
The opinions and forecasts in the article are those of analysts and are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.
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