The post These Altcoins Enter the Bullish Range as Bitcoin Heads Back to $75,000—Is This the Beginning of an Altseason? appeared first on Coinpedia Fintech News
No sooner than the U.S. elections turned in favour of the Democrats, the crypto space began to thrive. Donald Trump is the 47th President of the United States who admired Bitcoin and shared his plan to work for the betterment of the crypto industry. With this, the win is expected to revive a strong upswing as altcoins like Litecoin, Chainlink, Avalanche, Lido DAO, & Injective enter back into a bullish range. With this, the expectations of a strong Altseason have become more viable as a small push may cause a major breakout from the bearish range
Chainlink (LINK)
Chainlink maintained a consolidated ascending trend for over a few months, which was destabilized at the start of the month
Meanwhile, the token has regained its levels back within the ascending triangle, indicating the bulls gaining acute strength
A bullish reversal was witnessed with the RSI while the MACD is ready for a quick bullish crossover
Therefore, the LINK price is believed to rise and reach above $12.5 during the next bullish push and after a brief consolidation, it may reach levels above $15
Litecoin (LTC)
The Litecoin price remained within an ascending parallel channel after rebounding from the August lows; that was not defended during the recent pullback
Meanwhile, the latest upswing pushed the price above the 50-day MA, which has raised the possibility of reaching the 200-day MA at $68.14 in a short while
Additionally, these MA levels are expected to undergo a bullish crossover, called the Golden Cross, that may revive a strong ascending trend
Once the LTC price surpasses $70 and achieves $72, the bulls may push the price towards the upper resistance close to $80
Avalanche (AVAX)
Similar to Litecoin, the Avalanche price has also entered the rising parallel channel, flashing bullish signals
The slight rise in the buying volume suggests the token is ready for the next bullish action, leading the levels above the bearish influence
The RSI has rebounded from the lows and raised above the average range, indicating a surge to $30 could be fast approaching
Once the BTC price forms a new ATH above $78,000, the AVAX price is also expected to rise above $35
Besides, the Lido DAO (LDO) and Injective (INJ) prices have also attracted massive gains, suggesting a strong rise above the resistance in a short while. However, the altcoins are expected to maintain a consolidated ascending trend until the Bitcoin price marks a new ATH above $80,000. However, the rally does not seem to halt anytime from now until it reaches the peak above the $100K milestone. This may keep up the bullish momentum within the markets and eventually trigger a strong Altseason later.