- Crypto analyst Manish Chhetri anticipates a strong run for Zilliqa (ZIL), forecasting notable bullish targets ahead.
- Furthermore, Chhetri believes that Polygon (MATIC) is likely to show an impressive performance as well.
- In contrast, analyst Ibrahim Ajibade predicts a relief rally for the popular meme coin Shiba Inu (SHIB).
A closer look at crypto analyst predictions regarding ZIL, MATIC, and SHIB, outlining the key levels and potential bullish runs.
ZIL Price Prediction: Bullish Potential in the Making
Zilliqa (ZIL) recently managed to break above a descending wedge pattern, posting a modest increase of approximately 1.7% the following day. The pattern, spanning from early March to mid-July, integrates multiple highs and lows. Additionally, a bullish divergence was spotted as the Relative Strength Index (RSI) displayed higher lows amidst lower price dips.
Key Technical Indicators and Levels
Should ZIL close above the daily resistance of $0.0182, it could retest the next resistance at $0.0212, marking a potential 15% surge. Aggressive bullish momentum combined with a favorable general market trend may propel ZIL to close above $0.0212, aiming for an additional 18% rally to the weekly resistance at $0.0251.
If, however, ZIL’s daily candle closes below $0.0151, forming a lower low within the daily timeframe, this may invalidate the bullish outlook, potentially causing a 16% decline to retest the low of $0.0126 noted on September 21, 2020.
MATIC Price Prediction: Signs of a Potential Rally
Polygon (MATIC) broke past a descending wedge pattern on July 13, showing a 3.3% increase within three days. This pattern had developed from late January to mid-July. If MATIC maintains support within the $0.490 to $0.512 range—corresponding with the upper trendline of the wedge pattern—it might target the daily resistance at $0.589, suggesting a potential 19% uptick.
Momentum Indicators and Support Levels
The Relative Strength Index (RSI) dipped slightly below its average of 50, while the Awesome Oscillator (AO) is moving towards zero. If the bulls regain control, both indicators should rise above their averages, providing tailwinds to the recovery rally. Given a positive overall market sentiment and if MATIC closes above $0.589, it could test the weekly resistance at $0.738, indicating an additional 25% rally. Moreover, IntoTheBlock’s IOMAP data reveals that approximately 4,190 addresses accumulated around $0.507, highlighting it as a critical support zone.
SHIB Price Prediction: Bulls Targeting $0.000020
Shiba Inu (SHIB) has demonstrated significant resilience, climbing to $0.0000183 with a 44.39% increase in just 15 days by July 20. Despite minor corrections, key technical indicators suggest a cautiously optimistic outlook for SHIB. The Parabolic SAR is currently pointing upwards, with the dots placed below the price candles, indicating continuing bullish momentum.
Critical Support and Resistance Levels
The immediate support for SHIB is solidified at $0.000015644, which has withstood recent tests. The Detrended Price Oscillator (DPO) remains at a neutral 0.00, suggesting stable market conditions without extreme overbought or oversold signals. Should SHIB break above the $0.000020 resistance, a further upside movement could occur, potentially leading to new highs. Conversely, breaching the $0.000015644 support might spark a short-term downtrend towards lower levels.
Conclusion
Analysts’ forecasts for ZIL, MATIC, and SHIB indicate various bullish potentials based on emerging patterns and key technical levels. Zilliqa’s breaking past a descending wedge and specific RSI movements echo a bullish sentiment. Polygon’s MATIC, supported by strong accumulation zones and potential recovery signs in RSI and AO, shows promising prospects. Shiba Inu’s resilience, backed by key indicators like Parabolic SAR and consistent support levels, also forecasts possible upward momentum. Investors should continue to monitor these altcoins, considering the evolving market dynamics and the critical levels outlined.
