Bitcoin (BTC) is spending time defending $23,000 to keep the bear market rally alive. The key move coincided with the Fed’s 75 basis point rate hike on the evening of July 27. Cantering Clark, a popular Twitter analyst, is evaluating 3 altcoin projects that will turn this environment into a rally.
Altcoin analyst updates forecasts for SOL, MANA and FXS
A prominent analyst says he is bullish on three altcoins, including Solana (SOL) and Decentraland (MANA). The Twitter analyst, nicknamed Cantering Clark, tells his 141,400 followers that he is bullish about Solana because he recently broke the cross-resistance and successfully retested it as support.
The crypto analyst predicts that if SOL rises above $45, it will rise to $60. Solana is currently trading at $41.91. It last tested the $45 level pointed out by the analyst on July 30.
Another altcoin on Cantering Clark’s radar is MANA
According to Cantering Clark, MANA price is preparing to break the critical resistance at $1.03. Sharing the chart below, the analyst noted the following for the next levels:
If we can push a little harder, the new 30-day peak is coming. The cryptocurrency market loves interesting moves. If MANA can close out of the blue, it must be some blue sky.
A move above $1.03 will bring MANA closer to the $1.33 target, according to the analyst’s chart. This scenario means 30% gain from current levels. MANA is currently trading below $1. It saw a massive 2% correction.
Frax Share (FXS) analytics
Frax Share (FXS), one of the two tokens in the Frax protocol, was the last altcoin on the analyst’s radar. According to Cantering Clark, FXS is ready for a clear bullish pattern after clearing the resistance at $6 and turning it into support. The analyst predicts that FXS will do 2x from current levels.
According to Cantering Clark’s chart, a 2x move would indicate a price target of around $12.64. FXS is ranked 181 by market cap. Currently, it is trading slightly lower at $7.45.
How about Bitcoin?
Bitcoin recorded a significant increase from June to July 2022. In fact, it saw the BTC price drop below $20,000 and many investors took heavy losses. Despite the correction, Bitcoin has been making a comeback since the second half of July. At the time of writing, it is trading above $23,000 despite the 3% correction. Meanwhile, the average amount of BTC in circulation in July ended on a neutral note after breaking a 4-month streak of price drops. We, as Kriptokoin.com, have discussed the price expectations of experts for the month of August in this article.
2755
