These Altcoins May Have A Bull Run By This Weekend! Is The Crypto Winter About To End?
The bearish trend of the crypto market that kicked off in November 2021 and accelerated in May this year seems to be fading away as investors are again showing interest, and several crypto firms are actively acquiring partnerships to bring more valuable integrations to the crypto space.
According to on-chain data provider Santiment, BTC, BNB, ADA, and XRP may witness a bullish momentum by this weekend.
Time For Altcoins To Rule Again!
According to Santiment, BTC, BNB, ADA, and XRP may soon start their bullish rally by this weekend. The crowd sentiment has turned positive again, indicating a bullish reversal during this downtrend.
The anticipation of the crypto market’s bull run, which is expected to take place by the beginning of Q1 of 2023, now seems to make its initial start by this weekend with altcoins.
According to the data, this month has become the most favorite month for the entire crypto community as the weighted sentiment of BTC, BNB, ADA, and XRP makes an exponential rise.
However, Ethereum is not bringing bullish signals anytime soon as it has failed to gain the market’s attention after the Merge event.
BNB Price Analysis
The last week has been bearish for BNB as it shed over 9.3% in its value. According to CoinMarketCap, BNB is currently trading at $272 with an uptrend of 0.16%.
Looking at the daily chart of BNB/USD, EMA-100 trades at $283, where the Bollinger band’s upper limit is placed.
This acts as an immediate resistance level in the BNB price chart, and BNB can move to the next resistance level of $310 if it holds its positive trend.
RSI-14 trades near 46-level, hinting at a consolidated range before bullish momentum; however, the MACD line is strongly indicating a bullish reversal as it inches closer to the trend line. It is expected that BNB can reach a price level of $280 by this weekend.
Conversely, we may witness a bearish trend if the market does not go in our favor. The Bollinger band’s lower limit is at $258, and the BNB price may trade below the $240 level if it comes over a piece of negative news and turns out to be bearish.
XRP Price Analysis
According to CoinMarketCap, XRP is trading at $0.4632 with an uptrend of nearly 2%. The daily chart indicates a bullish candle near its support level, which is at 50% Fib retracement from the current move.
EMA-20 has crossed EMA-50 and EMA-100, and it is trading with EMA-200 near $0.47, an immediate resistance level for XRP price. XRP may move to the next resistance level at $0.49 if it successfully ends this weekend on a positive note. Moreover, RSI-14 is tending to touch 50-level, hinting at a clear bullish move from XRP soon.
Our above bullish analysis may fail if XRP falls below its crucial support level of $0.43. XRP may see a price of $0.36 if the crypto market goes against the wind.
ADA Price Analysis
The Vasil Hard Fork of the Cardano network seems to bring no significant change for Cardano’s native token ADA, as it has been continuously dominated by the market bears. As per CoinMarketCap, ADA’s price is trading at $0.35, with a decline of 0.5% from yesterday’s price.
Looking at the daily ADA price chart, ADA is currently tending to continue its bearish trend further as the EMA lines are not promising. EMA-20 and EMA-50 are trading below in a range-bound area between $0.42 and $0.39. RSI-14 is trading at 26-level, indicating a selling pressure in the price chart.
The MACD line is also showing a negative territory for ADA’s future price. The Bollinger band’s lower limit is at $0.3, and ADA can trade below $0.27 if it continues its current trade.
However, our bearish analysis for ADA may become invalid if it makes a bullish reversal and hits its immediate resistance level at $0.37 by the end of this weekend.
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