Altcoins
These Altcoins Are Showing Bullish Signals As Bitcoin Faces Critical Condition
Cryptocurrency Analysis Company Santiment identified promising projects signals for some altcoins.
“Altcoins with extremely low funding rates are a great signal to buy into the crowd FUD right now,” Santiment said, citing the latest data.
See also: Bitcoin at Risk of Retesting $40,000, Influential Crypto VC Warns
According to For Santiment, three assets in particular stood out on Binance due to strong shorting activity: Balance wheel US Dollar/US Dollar, Chromie CHR/USD, and Celery CELR/USD currency rate.
Santiment said these short positions could trigger price increases if there is a squeeze, as short liquidations often fuel rapid upward moves.
Meanwhile, a pseudonymous cryptocurrency analyst DonAlt provided knowledge In Bitcoin‘s potential BTC/USD price trajectory stating: “Invalidation is above $63,000, $64,000. As we start to close above [$63,861]I think it’s just going to go back to $80,000… Like at the beginning, the all-time high, then $80,000, $90,000, $100,000.
Read also : German MP calls for Bitcoin holdings to be retained rather than liquidated
However, DonAlt also warned of possible downside risks, noting: “If this [$56,500] support fails, first [it is to] $52,000.” He then outlined a bearish scenario in which a break below key support levels could lead to a “total capitulation” towards $40,000.
This combination of bullish signals from altcoins and Bitcoin’s precarious position has created a complex market environment, with investors closely monitoring both large- and small-cap cryptocurrencies for potential opportunities.
In light of these dynamic market conditions, the next Benzinga The Future of Digital Assets The event of November 19 takes on additional significance.
This conference promises to bring together industry leaders, investors and analysts to discuss the latest trends and forecasts in the field of cryptocurrencies.
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