Altcoins
Altcoin rally in six weeks? Here is the list of four best Altcoins to stack now
How Fast Do Altcoins Work Bitcoin? In the Discover Crypto podcast, analyst Kelly Kellam said he believes things will change relatively quickly in the near future, but it is not certain that it will be explosive growth.
Looking at the Bitcoin dominance chart, he drew attention to a bearish divergence on the RSIs and a trendline that was broken and flipped from support to resistance. This trendline now crosses a multi-year resistance point, and the market is currently oscillating on this line.
Altcoins on the Moon soon?
If altcoins are expected to rally, he said a break in Bitcoin’s dominance would be a strong signal. He expects a broad market rally soon and suggests that when Bitcoin’s dominance collapses, it will indicate that altcoins are starting to overtake Bitcoin. He thinks we’re about to see that happen.
The analyst added that the weekly chart pattern shows a trend that could take five to six weeks to peak. If the market reaches this top and then rejects it, a breakout could occur before reaching the top. Often with these tightening patterns, price action can stop at any time after the 70% mark.
Which Altcoins Should You Target?
About Crypto Banter The sniper Trade show, The analyst explained that the normal Relative Strength Index (RSI) on the weekly chart is a powerful tool for buying altcoins. Whenever the RSI enters below the 40% phase, it has always been the best time to buy a specific altcoin. For example, in 2021, Thorchain’s buy zones were $3, after which it saw a massive increase up to $15, marking a 45x return.
Currently, Thorchain and other altcoins are re-entering the 40% RSI zone, signaling potential buying opportunities. He said Render is another example where this method has proven effective. The last time Render was in the 40% RSI zone, its price was at $1.4 and then rose to $12.
He also noted that Dogecoin and Cardano were going through similar phases, suggesting that significant moves could be imminent. He advised checking multiple altcoins to see if they are in a “sweet spot” to buy based on their RSI levels.
Read also: Bitcoin Price Prediction: Historical Data Suggests BTC Price Expected to Double in July