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COINTURK NEWS > Technical Analysis > Market Analysts Provide Latest Insights on Bitcoin and Altcoins
Technical Analysis

Market Analysts Provide Latest Insights on Bitcoin and Altcoins

In Brief

  • Bitcoin remains above $61,000 despite volatility following recent U.S. data.

  • AMB Coin shows promising signs with increased user growth and developer participation.

  • Analysts predict NEAR Coin will experience consolidation around $5 and AVAX may target $27.

Fatih Uçar
Fatih Uçar 2 years ago
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As of the time this article was prepared, Bitcoin $77,560 prices experienced a sudden drop following the release of U.S. data but remain above $61,000. The recovery of labor data is expected to alleviate recession concerns, positively impacting cryptocurrencies in the medium term. Therefore, short-term volatility is deemed less significant. What do cryptocurrency specialists predict for NEAR, AVAX, AMB, and Bitcoin today?

Contents
Bitcoin and AMB Coin PredictionsAVAX and NEAR Predictions

Bitcoin and AMB Coin Predictions

Popular cryptocurrency commentator Michael Poppe shared his latest market assessment for Bitcoin a few hours ago. The chart he shared prior to U.S. data release indicates a likely rebound from local lows. Michael anticipates a decline during the first week of the month based on historical data, with the first week of October generally experiencing a downturn followed by a quick rise in the latter half of the month.

“I stated this over the past few days; I believe Bitcoin is seeking its monthly low in the first week of October. Today is unemployment day, and I think it will mean a lot. Holding onto significant support and bouncing back from here would demonstrate strength.”

The individual predicting for AMB Coin is Mikybull. Sharing frequent updates because it is one of his favorite altcoins, he notes several reasons why the price remains undervalued. He mentioned that AMB Coin received many positive updates over the past month.

“User growth increased by 104%. Developer participation rose, and the total locked value on the network reached an all-time high. I expect demand for AMB Coin to rise.”

AVAX and NEAR Predictions

Efloud is not a frequent updater but was in form today. Addressing the status of his previous charts, the popular cryptocurrency analyst wrote that he considers a buy opportunity at $4.2 and expects NEAR Coin to consolidate around $5.

For AVAX, the analyst highlighted the support line extending to $21.6. If a new movement occurs from the entry level to $27, Efloud indicated he might close his position.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 4 October, 2024 - 7:10 pm 4 October, 2024 - 7:10 pm
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