With the SEC filing a case against Ripple Labs and its founders with a lawsuit worth $1.3 billion, it has created a lot of FUD in the whole crypto market. Like Ripple, this lawsuit could be extended to several other cryptocurrencies which could fall under the category of securities. This could result in a drop in the price of several altcoins.
We have analyzed some coins to provide you with potential entry points. Let us review some altcoin price predictions for Theta Network (THETA), Bella Protocol (BEL), and Synthetix Network Token (SNX).
THETA/USD – Price Prediction
THETA had been accumulating between $0.60 and $0.70 for a long time. As soon as it broke out of this accumulation zone, it started gaining momentum upwards. It is currently trading above the 1 fib. As long as the support at fib 1 at $1.072 holds, we could see a move towards fib 1.618 at $1.249 and an extended move towards fib 2.618 at $1.534. Failure to hold THETA price of $1.072 could lead to a move towards $1.01, $0.96, and $0.92.
BEL/USD – Price Prediction
Next on our list of altcoin price predictions is BEL. On 4 hourly time frame, a head and shoulder pattern is forming on BEL. Although the right shoulder has broken the base, if it can maintain above the support zone of $1.0250, we can start seeing a move towards $1.1280, $1.2927, $1.5261, and $1.7457. Failure to hold the baseline support could lead to a drop in BEL price towards $0.9152 and $0.7779.
SNX/USD – Price Prediction
SNX has been steadily increasing in price since the last few days. It has a good support at $6.28. If this support holds, we can start seeing a move towards $6.75, $7.06, $8.15, and $8.87. Failure to hold the support at $6.28 could lead to a drop in SNX price towards $6.02, $5.45, and $5.00.
Images courtesy of TradingView.
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