Cryptocurrency investors are witnessing a resurgence in the market after challenging years. However, altcoins have yet to experience a consistent upward trend. Despite the billions entering the market with ETF approvals, the ongoing consolidation phase has negatively impacted altcoins. Two analysts have shared their predictions for FET and OSMO Coin, anticipating a significant event that will influence all altcoins.
FET and OSMO Predictions
Popular cryptocurrency analyst Efloud previously released key levels for FET Coin, expressing a bullish outlook. He stated that in the short term, the support level of $1.37 could remain strong, and the rally may continue to $3.07 after reaching $1.81 and $2.42.
“I might consider buying if it comes to the support area or flips the red box.”
Analyst Captain Faibik has also re-released his OSMO Coin chart, noting that successful predictions are a source of pride. OSMO has experienced a nearly 30% increase and, if it does not return to the downward channel, it could rise to $1.55. On September 13, he mentioned:
“OSMO is on the verge of breaking free from a downward channel, preparing for a potential 2-3x bull rally. Keep a close eye on this!”
Ultimately, the analyst’s initial predictions for OSMO Coin have proven accurate, and now the focus shifts to realizing the targeted 2-3x increase.
Altcoins and FTX Refunds
As this article was written, BTC has surpassed $63,200 again, reversing the downward trend initiated by MSTR. However, $65,000 has yet to be convincingly reclaimed. One of the largest upcoming events for cryptocurrency investors is the massive cash refunds by the FTX exchange.
Analyst Crypto Rover reported that $16 billion cash will be distributed to creditors within two weeks. This cash influx from FTX could signify billions of dollars entering the market as stablecoins.
If the anticipated scenario unfolds, and a significant portion of altcoins remains at low levels while buyers reinvest, substantial price increases could occur. This situation is akin to what happened with Mt Gox and Germany’s simultaneous BTC sales, but in this case, cash will flow into the markets instead of leaving.
