A crypto analyst is warning about a potential price drop for four altcoins: XRP, Ethereum Classic (ETC), Yearn.Finance (YFI), and Bitcoin Cash (BCH).
Bearish Predictions
According to the analyst, XRP might be showing a “head-and-shoulders” pattern – a bearish signal suggesting a loss of upward momentum. He also points out that ETC, YFI, and BCH are nearing key support levels, which could lead to price declines. At the time of writing, XRP was down 3.3%, YFI was down 1.1%, while ETC and BCH were up slightly.
Potential Upswing for Other Cryptos
On the other hand, the analyst sees potential for growth in Algorand (ALGO) and Stellar (XLM). He cites a bullish signal from the Tom DeMark (TD) Sequential indicator on their weekly charts. He suggests ALGO could start a new uptrend, and XLM could see a significant price increase, potentially rising by over 46%. However, at the time of this writing, ALGO was down 1.5% and XLM was down 2%.
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