Altcoins
Best Altcoins to Stack Next Week: Uniswap (UNI), Notcoin (NOT), and Bonk Prices Set to Rise Further
The altcoin sector is becoming more and more dominant while the price of Bitcoin remains stable near $70,000. Additionally, the recent sanctioning of a spot Ethereum ETF increases the demand for purchasing altcoins, which may soon lead to an increase in trading volume.
Bitcoin’s $70,000 Could Stop Altcoin Rally
Recently, the BTC price saw a significant rise, driven by an increase in ETF volume, consolidating around the $70,000 mark. Following the approval of an Ethereum spot ETF, Bitcoin dominance saw a slight decline, falling 2.3% over the week.
Since May 20, the seasonal altcoin index has shown a downward trend, falling from a high of 43 to 35. This indicates that the market may not be ready for a rally yet. Nonetheless, with preparations underway for the SOL and XRP ETFs, the altcoin market may soon gain momentum.
Uniswap (UNI) Price Analysis
Uniswap price has risen exponentially above its Fib channels and is currently holding around the $11 mark. Traders on both sides are now aiming for a clear trend in the coming hours. At the time of writing, UNI price is trading at $11.2, up over 3.8% from yesterday’s rate.
Bears are currently strongly defending the $12 level; however, buyers aim to turn the corner by increasing the pressure. A rise above $12 could strengthen long positions, leading to a rise towards the $17.2 level.
Learn more: Uniswap (UNI) price breaks out of consolidation; A further 25% increase could be on the horizon!
However, a rejection from $12 would suggest that the bears are attempting to establish this level as a resistance level. To initiate a downward rally, bears must move below the EMA20 trendline. This could drive the price towards $8.2.
Bonk price analysis
Bonk price has recently shown significant bullish movement, attempting to overcome nearby resistance levels. Despite this, the bears are actively trying to prevent further increases, creating strong resistance near the $0.000037 mark. Currently, Bonk’s price stands at $0.000035, reflecting a 2.8% decline over the past 24 hours.
The BONK/USDT trading pair looks set to break above the Fibonacci levels and reach resistance at $0.000048. Bears view maintaining this level as vital to preserving their control, as surpassing it could mark a shift in market dominance. If successful, the price could reach a new ATH next week.
Read also : Potential 60% upside in BONK price if bulls exceed $X
Conversely, a decline below the moving averages could strengthen bearish positions. As a result, Bonk price could head towards the immediate support level of $0.000022. If the bears continue to apply further pressure, we could see Bonk price fall towards the $0.0000135 support.
Notcoin Price Analysis
Notcoin price has seen fluctuations around the moving averages on the 15-minute price chart, reflecting a significant struggle between buyers and sellers. Recently, the bears managed to push the price below the EMA trendlines. At the time of writing, NOT price is trading at $0.0051, up over 2.8% in the last 24 hours.
Sellers attempt to keep the price below the moving averages and Fib lines. If they succeed, the NOT/USDT pair could fall to the key support level at $0.0046, which is likely to entice buyers to buy aggressively. A robust recovery from $0.0046 could extend the sideways movement.
To indicate a change in momentum, buyers must overcome the descending resistance channel. Achieving this could trigger a rise to $0.0057 and potentially reach major resistance at $0.0068.