The post Top Altcoins to Consider as Bitcoin Price Breaks the $60K Barrier appeared first on Coinpedia Fintech News
In a recent video analysis, Youtuber and crypto expert Crypto Banter shared insights on Bitcoin’s recent price action, which has seen the leading cryptocurrency push back above the $60,000 mark. After a prolonged period of sideways trading, Bitcoin appears poised for a significant breakout, signaling the potential for a new bullish phase.
Let’s dive in!
A Bullish Reversal in Play
Bitcoin’s recent sideways movement, which some may have found frustrating, is forming a bullish reversal pattern. The market has been tough, with many investors feeling demotivated, but this period of consolidation is crucial. Bitcoin now faces strong resistance at the $60,000 level. If it manages to break through this zone, it could quickly rise to the $68,000-$70,000 range, possibly setting the stage for new all-time highs.
Short Squeeze on the Horizon?
Crypto Banter emphasizes the need to prepare for a possible short squeeze as whales and large institutions continue to accumulate Bitcoin and altcoins. The recent market shakeout, which induced fear and uncertainty, has brought in the liquidity needed for a strong recovery. This could lead to a rapid price surge if the momentum continues.
Altcoins to the moon?
As Bitcoin stabilizes and possibly breaks its resistance levels, attention is turning to altcoins. The next market phase could see significant gains in these assets. Many altcoins are sitting at crucial support levels, and the upcoming weeks could be critical for catching these opportunities before they rally.
Top Altcoins to Watch Right Now
With the crypto market showing signs of a potential bull run, several altcoins are positioned for significant gains. Here are some of the best altcoins to consider right now:
Near Protocol (NEAR)
Near Protocol is exiting its investment entry zone and showing strong bullish signs. The token has recently given a pin bar signal, suggesting that a strong upward move could be imminent. With the potential for a 20-40% gain in the short term, NEAR is a solid pick.
Arweave (AR)
Arweave is a decentralized storage network that recently hit a key investment zone. As it approaches a trend break, AR is poised for a significant push, potentially reaching the $40-$50 range. This makes it a great opportunity for those looking to capitalize on the next market rally.
Chainlink (LINK)
Chainlink continues to be a leader in the blockchain oracle space, and it’s currently sitting in a favorable investment zone. As market conditions improve, LINK is expected to follow suit, offering good potential for both short-term and long-term gains.
Fantom (FTM)
Fantom has been a strong performer in previous market cycles and is now in a good position for a rebound. The token is showing signs of strength, and a breakout could see it return to previous highs or even surpass them.
XRP
XRP is breaking its weekly trend, showing potential for a significant move. If it can push past key resistance levels, it might even reach the psychological $1 mark, making it an attractive option for traders and investors alike.
Also Read: Crypto Analyst Predicts Altcoin Market Recovery Amid USDT.D Decline
Are you Ready for the Next Phase?