Altcoins
These Altcoins are outperforming Bitcoin
About Crypto Banter The sniper trade show, The analyst spoke about the near-term outlook for Bitcoin. He said the coin could target the $62,000-63,000 range, and any break above $62,000 could push it towards $65,000.
Closing above these levels this week would be a strong sign. However, it is also possible that Bitcoin will retest its recent lows, potentially falling into the $56,000-$57,000 range before rebounding. He explained the current altcoin opportunity, noting favorable conditions with many coins oversold compared to Bitcoin.
During these movements, Bitcoin Dominance is expected to decline, which could benefit altcoins. The analyst explained that with the recent pullback focused on Bitcoin, altcoins have shown resilience, breaking their short-term trends. This suggests a bullish outlook for the coming days, although longer-term trends will depend on where Bitcoin closes the week.
Altcoins to the moon?
Altcoins may experience minor pullbacks, but are expected to see further gains soon. Bitcoin The loss of dominance support indicates a possible continuation of the decline, which generally favors the performance of altcoins. If dominance and other indicators remain bearish, altcoins could revisit their prices from four weeks ago.
The analyst then focused on the best performing altcoins like Injective, Chainlink, Solana, ADA and NEAR compared to Bitcoin. He explained that many altcoins, including INJ and Chainlink, are showing signs of recovery after being oversold compared to Bitcoin. This could lead them to outperform Bitcoin in the coming weeks. It also brought attention to performance artists like GROUNDwhich forms a bullish weekly candle.
Regarding the market outlook, he predicted two phases for altcoins: a continued rally through September followed by a potential push by Bitcoin to all-time highs. He also mentioned strong sentiment towards Ethereum, especially against ETH pairs, citing Theta as standing out for its bullish setup.
Read also: Bitcoin Falls Below $59,000: Experts Predict Upcoming Bullish Rebound