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Altcoin rally expectation grows: Here are analysts' ETH, SOL and DOGE predictions!
Popular cryptocurrency analyst Sheldon Sniper believes yesterday's Federal Open Market Committee (FOMC) meeting set the stage for an altcoin rally. In a YouTube video earlier today, the analyst told his followers that Ether, Dogecoin and Solana are among the top altcoins ready for bullish action in the near future.
DOGE and SOL altcoins are gaining in value!
Bitcoin gained just over 1% after yesterday's rate hike. However, leading altcoins like Ether and Solana have managed to post better gains than BTC. The data received showed that ETH gained over 1.5 percent in value. However, SOL and DOGE, another leading meme token, gained 3.1 percent and 2.5 percent, respectively.
The most recent FOMC meeting was held between July 25 and July 26, after which the Federal Reserve announced a 25 basis point rate hike. The crypto community was keeping a close eye on the announcements given the historical significance of BTC in the context of its price. It is known that the reaction of the major cryptocurrency to the FOMC determines the price movements of altcoins.
According to Sheldon Sniper, Bitcoin's dominance took a hit after the FOMC meeting, paving the way for top crypto assets to rise. According to the crypto trader's technical analysis, it has been revealed that SOL has recently bounced off a key support zone and could trigger a strong rally. “Solana is one of the strongest altcoins right now,” the trader said. said.
As for DOGE, the crypto trader stated that he expects it to rise as high as $0.11. According to him, the meme token has recently crossed key trend lines and will witness a sharp price increase while waiting for a slight pullback. The trader added that a rally could also be triggered by a tweet from a high-profile influencer.
Sheldon's analysis of the 8-hour chart of ETH/BTC suggested that the leading altcoin could see a significant price increase if it manages to break through the resistance zone at $0.064. At the time of this writing, ETH was trading at $1,875.
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