Top Altcoins Expected to Experience Significant Price Increases this Week with Top Coins Predicted to Gain Up to 40
Is the future bleak for altcoins, or will Bitcoin and Ethereum dominate the market, leaving altcoins in the shadows? Bitcoin’s price is currently hovering around $62,500-$63,000, with analysts noting a recent bullish battle and the formation of a “pin bar candle” indicating a potential bullish reversal. On Crypto Banter’s The Sniper Trading Show, experts highlighted the bullish momentum pushing prices higher towards the weekly and monthly close.
Anticipating a surge in momentum, experts are optimistic about the performance of altcoins, particularly highlighting the impressive movements of coins like Solana (SOL). Observing the Ethereum (ETH) to Bitcoin chart, analysts predict a possible break in trends and a resurgence in Ethereum’s value. Many altcoins are showing strength in their Relative Strength Index (RSI), with some poised to outperform both Ethereum and Bitcoin. The recent reset and bullish divergence in RSI signals positive growth potential.
Expecting a bullish trend in the coming week, analysts foresee altcoins reaching new all-time highs. The ongoing dominance of USDT is seen as a positive indicator, with a potential trend reversal suggesting a market bottom. The “pin bar candle” is emphasized as a reliable reversal indicator, with historical data supporting its role in market upswings. However, bearish divergence in the USDT dominance chart raises concerns of a downward push before a market recovery.
As interest in meme coins wanes, experts predict a shift towards more substantial altcoins, with a second wave of meme coins expected in the future driven by retail interest and celebrity endorsements. Promising signs are seen in various altcoins such as Cardano (ADA), RUNE, Injective (INJ), Chainlink (LINK), Fantom (FTM), Solana (SOL), and Polkadot (DOT), many of which are forming bullish patterns.
With expectations of strong gains ranging from 20-40% in the altcoin market, analysts remain cautious about Bitcoin’s future, foreseeing a gradual increase rather than a sudden surge to $70,000. The crypto landscape continues to evolve, presenting opportunities and challenges for investors and traders alike.