😁 ETH/USDT - #Ethereum briefly dipped below the $3,000 mark, and further decline could lead to a two-month low. However, the likelihood of this event is diminishing as investors regain confidence in the altcoin's prospects. According to data from the Santiment analytical platform, the number of #ETH transfers to exchanges has significantly decreased. This indicates that selling pressure is subsiding, and market participants prefer to hold onto their coins. Forecast: Currently, Ethereum is trading within a descending wedge and is approaching a breakout. If successful, the asset's price could rise by 28% to the key level of $4,000. However, a confident confirmation of $3,000 as support and movement towards $3,500 seem like a more realistic scenario. Nevertheless, ETH still risks falling to the lower boundary of the wedge, coinciding with the $2,800 mark. This would lead to increased losses and a potential plunge to $2,600, rendering the bullish thesis invalid.
🤫 LTC/USDT - Litecoin's price tends to react to investor behavior, and there's currently an increase in #LTC holder activity on the network. The number of addresses conducting transactions has increased by 22.66% over the past three weeks, from 353,000 to 433,000. Such growth in active addresses is observed for the first time in almost six months. The last time this occurred was in November 2023. Forecast: Litecoin's price is breaking out of the "Descending Triangle" reversal pattern. This bullish formation on the chart promises a potential trend reversal from bearish to bullish if the price breaks above the upper boundary of the pattern. Considering the aforementioned factors, the altcoin could initiate a potential rally of 27% towards the pattern's target at $102. However, for this to happen, LTC's price must first turn resistance at the $86 level into support. If this bullish breakthrough fails, #Litecoin may break support at $79, leading to the nullification of the pattern and the bullish scenario. In this case, the price could fall to $76 and below.
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