Despite all the negative news around BTC, it has consistently maintained an upward momentum. The recent correction is a healthy push back to continue the bullish rally. Once the dominance of BTC starts falling, we will start seeing the profits made by investments in BTC move towards altcoins.
Let us analyze the price action for TOMO, QNT, ETH and KAVA
TOMO/USD – Price Prediction
TOMOCHAIN is currently trading in the support zone of $0.64. We have seen a candle break below the support but it closed above it. We can expect a move towards $0.55 which could be a good place to add to longs if the support holds. Immediate targets for TOMO for the upcoming altseason would be $0.80, $0.96, $1.08, $1.21 and $1.39. Failure to hold the support at $0.55 could lead to a price drop towards $0.45 and $0.4
QNT/USD – Price Prediction
QUANT is currently trading between the support of $10.89 and resistance of $13.55. A good place to long would be at the support of $10.89 and a potential drop towards $9.02. Targets for QNT could be $13.55 and $16.95. Failure to hold $9.02 could lead to a break from the uptrend and a drop towards $7.15 as the first downward target.
ETH/USD – Price Prediction
The hype around ETH 2.0 has finally settled. We might start seeing a small correction in ETH if BTC breaks downwards. It is possible for ETH to visit $476. Failure to hold the 0.618 fib, will lead to a drop in price of ETH towards the support 1 zone at $443 and a possible wick towards $402. If $402 cannot hold, there is no good support till $363. However, a price drop below $400 looks farfetched as $443 and $400 are strong support zones. Targets for the longs could be $522, $580 and $625.
KAVA/USD
KAVA has started approaching a solid support zone of $1.28. If this support can hold, we can see a push towards $1.77, $2.02 and $2.50. Failure to hold the support of $1.28 could lead to a drop in price towards the support zone area of $0.92 which would be a very good place to long KAVA.
Images courtesy of TradingView.
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Source: altcoinbuzz.io
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