Bullish Rally For ALGO Is Around The Corner, Analyst Predicts

The optimistic predictions about the prices of digital assets continue despite the multiple tensions and high volatility that we have been seeing in the crypto market. Check out the latest predictions about ALGO below.

An extremely popular crypto strategist is predicting strong rallies for a pair of altcoin projects.

Pseudonymous analyst Altcoin Sherpa said recently that he sees the smart contract platform Algorand (ALGO) surging almost 60% from its current value of $0.81.

“ALGO looks good so far and continuing to move off this support area.”

It’s also important to note the fact that Altcoin Sherpa is short-term bullish on ALGO, but on the other hand, he expects the Ethereum competitor to resume its downtrend after hitting his target at $1.29.

He is also addressing the new Ethereum-based NFT marketplace LooksRare (RARE), which Altcoin Sherpa says is in the process of bottoming out.

“Still in this position, expecting the A&E [Adam and Eve] reversal to play out. I’m going to probably be all out by $3. 200 EMA [exponential moving average] on the 4-hour acting as resistance; probably best to wait to see if $1.80 can get flipped [to support] before buying this, in my opinion.”

At the moment of writing this article, ETH is trading in the green and the coin is priced at $2,954.

According to the latest reports, there is a popular crypto trader who says he sees sustained rallies for Bitcoin (BTC), Ethereum (ETH), and Cosmos (ATOM).

Pseudonymous crypto strategist Inmortal has recently said that he’s looking at the inverse chart of Bitcoin and sees BTC grinding higher in the coming months.

Inmortal is also keeping a close watch on Ethereum in its Bitcoin pair (ETH/BTC). He recently explained that ETH/BTC has managed to break its bearish market structure and is now poised to form its first higher high in over three months.

“First signs of reversal on ETH vs. BTC after 100 days downtrend. Higher highs + higher lows = 0.074 BTC [$3,047].”