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Three popular cryptocurrency analysts shared their predictions about the market’s future and their target prices. They noted that a bullish trend for altcoins should begin soon, while Bitcoin (BTC) 
$110,766 was struggling to regain the $64,000 mark at the time of writing. The question remains: what are the price targets for TAO and ENA Coins?
Bullish Phase for Altcoins Begins
An analyst known as Moustache, with nine years of experience in cryptocurrency trading, stated that the market might soon reverse an 8-month downward trend. He shared the TOTAL2 chart, which tracks the total market cap of altcoins, suggesting that after a recent closing, a turnaround is on the horizon. Currently, BTC seems to support this potential by maintaining the $63,500 level.
“TOTAL2, which represents the total market cap of altcoins, escaped the 8-month downward trend on the RSI after a two-week candle closing. Prices need to rise.”
“I believe the altcoin season is very close. I bet that 95% of those here cannot predict how crazy things can get.”
Insights from seasoned experts who have experienced multiple market cycles can be more beneficial for investors than the opinions of less experienced analysts. However, these comments should not form the core of your strategy, and one must conduct their analyses and evaluations as well.
TAO and ENA Coins
TAO Coin has recently gained attention, but it is now approaching a risky zone. As the rally continues, investors may want to stay cautious when identifying the right peak; failure to sell during a market downturn could lead to regret. Altcoin Sherpa commented on this:
“TAO still looks strong, but it is approaching a danger zone, and a pullback wouldn’t be surprising. Given the current interest in artificial intelligence, reaching new all-time highs isn’t difficult. I have some concerns regarding inflation, but overall, it still looks quite good to me in the medium term.”
TraderXO mentioned ENA Coin and expressed expectations for a price pullback, suggesting potential buying opportunities in the $0.26 to $0.30 range.
In summary, there may be entry opportunities at lower levels for both altcoins. If the initial phase of the altcoin bull run begins in the coming weeks, it could present an advantage. However, if geopolitical tensions escalate or inflation worsens, buying at high levels may lead to regrets despite the downturns. Cryptocurrency markets are always full of surprises.
