Is the altcoin season coming? Analysts are bullish on the future trends of 3 coins.

After Trump was elected as the President of the United States, BTC continued to reach new historical highs, and AltCoins in the cryptocurrency market also began to be followed by investors.

However, CoinMarketCap's altcoin season index is 39/100, which means it is still the "BTC season".

Most altcoins are currently following the rise of Bitcoin, but have not yet surpassed their historical highs. Some analysts have named several potential coins, including Shiba Inu (SHIB), Ripple (XRP), and The Sandbox (SAND), and provided short-term price trend analysis for reference only, not as investment basis.

Shiba Inu Coin ($SHIB) Price Trend Analysis

Senior analyst Sahil Mahadik from CoinGape stated that $SHIB rebounded from 0.00001685 to 0.00003 last week, with an 80% increase. From the daily candlestick chart, this rebound formed a bullish head and shoulders pattern.

Mahadik predicts that if the market maintains its strength, $SHIB is expected to break through the 0.00003 dollar resistance level and surge towards 0.000035 dollars by the end of November, and may even rise to 0.000038 dollars.

However, data from blockchain analysis platform Santiment shows that the 30-day MVRV value of $SHIB has recently surged to 25%, indicating that short-term investors have made substantial profits and may result in profit-taking.

Since mid-July, whenever the MVRV of $SHIB exceeds 20%, it will trigger a significant pullback.

Mahadik pointed out that before a significant breakthrough rebound occurs, $SHIB may first experience a 20% pullback to test the support level of 0.00002074 US dollars.

Image source: CoinGape Shiba Inu coin (SHIB) price trend analysis

Ripple ($XRP) Price Trend Analysis

According to CoinGape, many analysts are optimistic about the future performance of Ripple ($XRP).

Analyst Crypto Insight predicts that if $XRP breaks through the 0.66 dollar resistance level, it is expected to rise to 1 dollar, with a target price of 1.28 dollars; another analyst, Mikybull Crypto, predicts that $XRP may soon see a large Bullish line and could rise to the 2 dollar integer level.

Image source: Mikybull Crypto/XRP price trend analysis

Analyst Zach Humphries has a more optimistic prediction. He believes that even before the lawsuit is fully resolved, $XRP is expected to rise to $3 to $5 in this bull run.

If the lawsuit result is favorable to Ripple and the SEC approves the pending $XRP ETF, there may even be a parabolic rise, ultimately reaching $8 to $10, which is more than 10 times the current price of $0.6971.

The Sandbox（$SAND）Price Trend Analysis

AMBCrypto market analyst Chanakya pointed out that from the daily candlestick trend, The Sandbox ($SAND) is forming a bullish pattern.

On-chain data shows that the large volume of $SAND has surged by 250% in the past 24 hours, indicating that institutional investors and Whales are actively getting on board.

From a technical perspective, $SAND has broken through the parallel channel and is currently facing the 200-day Exponential Moving Average (EMA) resistance. If it can break through the $0.315 level, there is a possibility of a 30% pump in the near term, reaching $0.415.

However, the Relative Strength Index (RSI) indicates that $SAND is currently in the Overbought zone and may experience a pullback consolidation in the short term.

Cryptocurrency analysis platform CoinGlass data shows that the futures contract of $SAND has pumped 5.6% in the past 24 hours, and the main liquidation points are currently at $0.2911 below and $0.3246 above, both experiencing over-leveraging situations.

Image source: AMBCryptoThe Sandbox ($SAND) price trend analysis

According to CoinGecko data, as of the time of writing on the 13th, $SHIB was quoted at $0.00002488, a 24-hour decrease of 8.2%; $XRP was quoted at $0.6791, a 24-hour increase of 11.9%; SAND was quoted at $0.2893, a 24-hour decrease of 7% for Crypto Assets.

[Disclaimer] The market carries risks, and investment should be cautious. This article does not constitute investment advice. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their specific circumstances. Investing based on this is at your own risk.

'Is the altcoin bull market just getting started? Analysts are bullish on 'these 3 coins', with one potential big pump 10x.' This article was first published in 'encryption city'