Altcoins
Top Altcoins Will Turn $1 Into $10 This Week
Last week, the market saw a bullish comeback as the BTC price saw massive buying demand and climbed towards the $65,000 mark. Although BTC dominance is currently on the rise, any minor pullback could cause top altcoins to turn $1 into $10 this week.
Reversal for Altcoins Amid Bearish Pressure
Last week, Bitcoin Market Domination has seen a decline, prompting some cryptocurrency analysts to suggest it may have peaked. This indicates that traders are increasingly turning their attention to altcoins.
Analysts believe that Bitcoin’s period of dominance is potentially over, citing a recovery in the altcoin’s value, suggesting that a market bottom for altcoins may have been reached.
Read also : Top Altcoins Facing Potential Crash in the Week Ahead
As altcoins begin to perform better than Bitcoin, this suggests a rotation within the market is in store this week.
Bitcoin’s declining market share is often seen by market experts as a sign that an altcoin market recovery may be coming. Investors shift their funds from Bitcoin during price declines. If BTC price falls next week, these emerging altcoins could trigger a 10x rally.
dogwifhat (WIF) Price Analysis
Bullish traders have recently pushed WIF price towards the critical resistance at $3.5. Despite the downward pressure that caused WIF price to plunge towards $2.2, buyers continued to buy during the dip, triggering a strong rebound. As a result, the price of WIF surged to $3.37, an increase of over 13% from yesterday’s rate.
Currently, buyers are aiming to push the price above the resistance level near $3.6. If they succeed, this could indicate the start of a new uptrend for the WIF/USDT pair, potentially reaching new all-time highs.
However, some fear that this rally will be interrupted. The relative strength index (RSI) has been hovering around the overbought zone recently, indicating that the market may be overheated. This could lead to a slight correction or a period of stabilization. It is crucial to watch the support level at $2.9 in case of a downturn.
Golem (GLM) Price Analysis
GLM managed to break out of a period of consolidation around the $0.43 level with a significant breakout. The momentum took the price to $0.57, marking an impressive 26% increase in the last 24 hours.
Continued buying activity, rather than profit-taking at these higher prices, suggests stable confidence among investors. It is possible that the price will temporarily return to its moving averages, which should act as support. A robust recovery from these levels could pave the way for a rise beyond $0.75. Achieving this could send the GLM/USDT pair towards the $1.4 mark and possibly extend gains to $3.1.
However, a decline below the moving averages could indicate a selling trend among holders.
Helium (HNT) Price Analysis
Bulls have struggled to push HNT price above the $6 resistance but remain optimistic. Currently, HNT price is trading at $5.6, an increase of 33% from yesterday.
A rising 20-day EMA at $5.4 and positive RSI suggest potential growth, targeting the next resistances at $6.4 and $11.2.
However, if HNT falls below $4, the bears could take over, pushing the price towards $3.4 next week.