Altcoin Ready for a Breakout as Bitcoin Resumes Its Run to $100K-Grest Time To Buy Somw
The post Altcoin Ready for a Breakout as Bitcoin Resumes Its Run to $100K-Grest Time To Buy Somw appeared first on Coinpedia Fintech News
After a massive upswing, the Bitcoin bulls are relaxing a bit as the prices are consolidating within a narrow range, just below the $100K milestone. In the meantime, some of the altcoins, including the most popular Solana, are accumulating gains, aiming for a strong breakout. Once the Bitcoin (BTC) price gears up to rise to $100K, these altcoins are expected to trigger a breakout beyond the pivotal resistance.
XRP (XRP)
XRP price underwent a magnificent run since hitting the lows below $0.5, resulting in a 200% jump. The price is closely consolidating above the gains, suggesting a breakout could be near by. Therefore, once the Bitcoin price revamps it’s rise towards the $100K milestone, the XRP price is believed to clear the resistance at $1.5, following a bullish continuation towards $2, aiming to form a new ATH in the coming weeks.
Litecoin (LTC)
The Litecoin price underwent a parabolic recovery to reclaim the 3-digit figure, but the bulls failed to hold the rally above the gains. The price has now begun to consolidate as the BTC price remains consolidated around $98,000. Besdeis, the RSI trades along the ascending resistance line, suggesting the price to hold above the support and finally break above the range as soon as the star token breaks the milestone.
Solana (SOL)
After breaking above the parallel consolidation, the SOL price has triggered a consistent rise, including a couple of pullbacks. The MACD displays a drop in the buying volume, which further suggests a bearish crossover of the MACD & the signal line, validating a small pullback. However, the volume remains within a decent range, and hence the price is believed to revamp a strong rally as the markets turn bullish with Bitcoin gaining positive momentum. This move may push the Solana price towards a new ATH, probably above $270, which may enroute it to $300.
Shiba Inu (SHIB)
The Shiba Inu price is consolidating within a bullish pennant and maintaining an ascending trend along the support of the pennant. Although the volume is varying, the bullish momentum remains intact. The OBV is rising slowly, suggesting the token to maintain a decent ascending trend. The Bollinger bands are contracting, and a breakout could occur once the BTC price archives the milestone at $100K.
Dogecoin (DOGE)
The Dogecoin price witnessed a massive upswing in the past few days, which attracted a notable bearish activity. However, the price continues to trade within a rising wedge, and considering the RSI trends, the rally may remain consolidated within the wedge, testing the resistance and support. However, it still remains within the overbought range, and hence the Dogecoin price is believed to maintain a healthy upswing until the BTC price breaches past $100K.
