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For cryptocurrency investors, challenging bear markets are behind, but BTC price fluctuations cause intermittent declines. The prolonged dull period finally ended last week with ETH ETF news. However, today, investors are concerned about the potential imminent distribution and sale due to the transfer of MTGOX assets. So, what are the predictions for altcoins?
Terra (LUNA)
Due to Do Kwon’s mistakes and secret relationships, the Terra collapse in mid-2022 wiped out a billion-dollar ecosystem. Investors holding UST for a 20% annual gain saw their balances wiped out while waiting in the stablecoin. However, there is still a group of investors who believe in Terra’s resurgence from its ashes.
Moreover, even as Do Kwon is sought for extradition by the US and South Korea for punishment, this group remains steadfast in their belief. For 45 days, the LUNA Coin price has been moving sideways and has not recovered since the drop on April 12-13. Ignoring the news flow, a close above $0.668 could target $1 and above again.
In a bearish scenario, a new ATL could be targeted.
Solana (SOL)
SOL Coin price is above $170, and despite a 2% drop in Bitcoin price, we haven’t seen significant movement. One of the largest altcoins by market cap, SOL Coin hasn’t lost the $162 threshold. The recent rejection from $188 might be related to short-term traders being drawn to abnormal movements in some altcoins.
There are well-known levels for SOL Coin, and $188 is one of them. If the resistance is broken, $205 and $256 levels could be tested. After that, a new ATH attempt will follow. In the opposite scenario, the targets are $162, $156, and $141.
Ripple (XRP) Coin Commentary
SEC has been a thorn in Ripple’s side, and since the end of 2020, there has been an ongoing feud. If the fight with the SEC extends through collective appeals, it could last until 2026. This means investors might not see a new ATH for a longer period. Moreover, the rapidly increasing circulating supply since then has already made it quite challenging.
The levels for the price remain the same; nothing has changed. With a close above $0.53, the targets are $0.58 and $0.66, followed by $0.74. In the opposite scenario, new lows are possible with closes below $0.51.
