What’s Next for Bittensor (TAO), Kaspa (KAS), and Alephium (ALPH) Crypto Prices? Top Analysts Unveil Potential Profit-Making Opportunities
The crypto market is witnessing developments with notable movements in various altcoins. Top analysts have shared their insights on the potential future performance of several key cryptocurrencies. Expert opinions and analyses provided by Satoshi Flipper, Altcoin Sherpa, Crypto Banter, Max, and Petar CaptainAltcoin, offer a comprehensive view of the current market trends and potential opportunities.
What you'll learn 👉
Bittensor (TAO) Price Analysis
Satoshi Flipper, a top analyst, highlighted the recovery of $TAO. According to him, the price is currently pressed against a long-standing diagonal channel resistance. He stated, “We break out of this falling wedge and I think $TAO shocks everybody at how fast we see $1000.” This bullish prediction suggests that $TAO might soon reach four-digit figures if it breaks the current resistance, which is a little above 120% spike from the current price.
Altcoin Sherpa provided a more cautious perspective on $TAO. He noted that $330, representing the 0.618 Fibonacci retracement level and the 200-day EMA, was the short-term bottom. However, he believes that there could be another opportunity to enter the market in the mid-$300s. Sherpa expressed concerns about token emissions, which might affect the long-term stability of $TAO.
Kaspa (KAS) Market Analysis
Crypto Banter reported on $KAS, which has broken through its daily descending resistance line, setting up a promising long trade. They recommended entering a long spot trade within the $0.125 – $0.13 support area. The suggested take profit levels are $0.1480 – $0.1550 and $0.176 – $0.1850, with a stop loss just below $0.12. This setup indicates a potential gain of up to 48%.
Max, another analyst, compared $KAS’s price action to Bitcoin’s performance in late 2023. He emphasized that once Bitcoin surpasses its previous cycle all-time high, $KAS is likely to experience significant upward movement. He urged investors to consider accumulating $KAS, suggesting that the current period might be the last chance to buy at a lower price.
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Show more +Read also: When Will the 2024 Altcoin Season Kick Off? An Insight from Bitcoin (BTC) Price Dominance
ALPH: The Undervalued Gem
Petar CaptainAltcoin shared his enthusiasm for $ALPH, describing it as the “Kareem Abdul-Jabbar of crypto.” He praised Alephium’s novel sharding approach, BlockFlow, which combines a Directed Acyclic Graph (DAG) structure with sharding. This allows for efficient and practical sharding of the Unspent Transaction Output (UTXO) model, enabling parallel transaction processing across multiple shards.
Moreover, Alephium’s stateful UTXO model supports data storage and smart contracts, merging the benefits of Bitcoin’s UTXO model and Ethereum’s account model. Petar highlighted that with a market cap of $136 million, $ALPH has the potential to grow significantly, potentially achieving 15x returns, matching the current market cap of $KAS but with stronger fundamentals.
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