Credible Crypto Unveils Bold Price Targets for Bitcoin, Ethereum, Polygon, and Hedera – Are Altcoins Ready to Surge?

Navigating the turbulent waters of the crypto market can feel like deciphering ancient runes. Price swings, market corrections, and bullish rallies – it’s a rollercoaster for even the most seasoned crypto traders. In this whirlwind, having insights from credible analysts can be invaluable. Enter Credible Crypto, a widely followed analyst and trader who has recently shared his price predictions for some of the top crypto assets, including Bitcoin, Ethereum, Polygon, and Hedera. Let’s dive into what he’s forecasting and what it could mean for your crypto portfolio.

Bitcoin’s Resilience: Relief Rally to Mid $50Ks on the Horizon?

Bitcoin, the king of cryptocurrencies, has been facing significant selling pressure recently. However, Credible Crypto believes that the worst might be over for BTC, at least for now. He suggests that Bitcoin is showing resilience and anticipates a relief rally soon.

Here’s a breakdown of his Bitcoin prediction:

• No New Lows Expected (Yet): Credible Crypto doesn’t foresee Bitcoin plummeting to new lows immediately. This offers a sigh of relief for those worried about further drastic drops.
• Relief Rally Target: Mid $50,000s: He predicts a potential upward movement for Bitcoin, targeting the mid $50,000 range. This could present a profitable opportunity for traders looking to capitalize on short-term gains.
• Strong Support in $45,000 – $47,000 Range: According to Credible Crypto, major exchanges are showing strong buying interest in the $45,000 to $47,000 range. This indicates a potential floor for Bitcoin’s price, at least in the short term.

“I don’t think we see new lows yet. Expecting relief to mid-50k’s soon. We have swept both our local lows and bids are being filled across major exchanges here in the 45-47k range.” – Credible Crypto

This suggests a potential short-term bullish outlook for Bitcoin, offering a window of opportunity for traders before potential further market movements.

Ethereum vs. Bitcoin: Altcoin Season on the Brink?

Ethereum, the leading smart contract platform and the second-largest cryptocurrency, is always a key indicator for the overall altcoin market. Credible Crypto analyzes Ethereum’s performance against Bitcoin (ETH/BTC pair) to gauge the potential for an altcoin surge.

Key takeaways from his Ethereum analysis:

• Ethereum Stacking Up Well Against Bitcoin: Credible Crypto notes Ethereum’s strength relative to Bitcoin, suggesting a positive underlying momentum for ETH.
• Critical Breakout Level: 0.070 – 0.080: A breakout above the 0.070 to 0.080 level in the ETH/BTC pair is crucial. Credible Crypto believes this breakout would signal a strong bullish phase for altcoins.
• Monthly Level Reclaimed – A Strong Bullish Signal: He highlights the reclamation of a monthly level as a significant bullish indicator for Ethereum and, by extension, for altcoins in general.
• Potential Short-Term Altcoin Downside: While the high time frame outlook remains bullish, Credible Crypto acknowledges the possibility of short-term downside for altcoins in the coming weeks. He emphasizes that intra-month wicks below monthly levels are normal market fluctuations.
• High Time Frame Bullish Above Green Level: He reassures that the overall high time frame trend for altcoins remains bullish as long as key levels (represented as ‘GREEN’) are maintained.

“Many asking if I’m still bullish on alts – nothing has changed but you must understand the [level] we reclaimed is a MONTHLY level. Intra-month we can wick below just like we wicked above in months prior. Alts may see some downside in coming weeks, but HTF [high time frame] remains bullish above GREEN.” – Credible Crypto

In essence, while short-term volatility is expected, the bigger picture for Ethereum and altcoins, according to Credible Crypto, leans towards a bullish trajectory, especially if Ethereum breaks above the key 0.070-0.080 ETH/BTC level.

Polygon (MATIC): Riding the Price Swings – $1.35 Target Still in Sight?

Polygon (MATIC), a popular layer-2 scaling solution for Ethereum, is known for its price volatility. Credible Crypto addresses the recent price action of MATIC, describing it as a ‘Fearmonger Part 2’.

Here’s what he says about Polygon:

• ‘Fearmonger Part 2’: This catchy phrase encapsulates the emotional rollercoaster MATIC investors might be experiencing due to recent price swings.
• Swing Failure Pattern (SFP) at Highs: Credible Crypto points out a bearish Swing Failure Pattern (SFP) at the highs. An SFP is a technical analysis pattern where the price makes a move to break a previous high or low but fails to sustain it, often indicating a potential trend reversal or continuation of the existing trend in the opposite direction of the failed breakout. In this case, it suggests a failure to sustain upward momentum.
• Liquidity Hunting Before $1.35 Target: He suggests that the recent price action might be ‘liquidity hunting’ – a market manipulation tactic where prices are briefly pushed down to trigger stop-loss orders and accumulate more assets at lower prices. Despite the volatility, Credible Crypto still anticipates another attempt to reach the $1.35 price target for MATIC.

“I call this one ‘Fearmonger Part 2.’ Our recovery ended up with another bearish SFP [swing failure pattern] of the highs… [Liquidity] hunting before making another attempt at $1.35 [in my opinion].” – Credible Crypto

For Polygon holders, this suggests patience might be key. Despite the turbulent price action and bearish signals, Credible Crypto’s analysis hints at a potential rebound and another attempt to reach higher price levels.

Hedera (HBAR): Bullish Divergence Signals Potential Rally – Target $0.26 then $0.30?

Hedera (HBAR), an enterprise-grade public network, is another crypto asset on Credible Crypto’s radar. He highlights a bullish divergence forming on HBAR’s daily chart, indicating a potential upcoming rally.

Key points from his Hedera analysis:

• Bullish Divergence on Daily Chart: Credible Crypto identifies a classic bullish divergence pattern on the daily chart for HBAR. Bullish divergence occurs when the price of an asset makes lower lows, but an oscillator (like the Relative Strength Index – RSI or MACD) makes higher lows. This divergence often signals weakening downward momentum and a potential price reversal to the upside.
• Relief Rally Expected: Aligned with his overall market outlook, Credible Crypto anticipates a relief rally for HBAR in the coming days, mirroring the broader market trend.
• $0.30 Weekly Support Now Potential Resistance: He notes that the previous weekly support level around $0.30, which was lost, might now act as resistance. This means that reaching and breaking above $0.30 could be a significant hurdle for HBAR in its potential rally.
• Price Targets: $0.26 and $0.30+: Credible Crypto sets initial price targets of $0.26 and then $0.30+ for HBAR. This provides specific levels to watch for as potential areas of price appreciation.

“HBAR printing a classic bullish [divergence] on the daily, indicating that we will likely see some relief in the coming days along with the rest of the market. That being said, the lost weekly support at around $0.30 may now act as resistance… Targeting $0.26 and above that $0.30 for now.” – Credible Crypto

For HBAR enthusiasts, this analysis offers a glimmer of hope. The bullish divergence suggests a potential turnaround, and the price targets provide concrete levels to monitor for potential gains.

In Conclusion: Navigating Crypto Volatility with Analyst Insights

Credible Crypto’s latest predictions offer a valuable perspective on the current crypto market landscape. While these are just predictions and the crypto market remains highly volatile and unpredictable, such analyses can help traders and investors form informed opinions and strategies.

Here’s a quick recap of Credible Crypto’s predictions:

Remember, always conduct your own research and consider your risk tolerance before making any investment decisions in the crypto market. Analyst predictions are helpful tools, but they should be used as one piece of the puzzle in your overall crypto strategy. Stay informed, stay vigilant, and navigate the crypto waves wisely!

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