Altcoins
The best altcoins that will turn $1 into $10 this week
Last week brought a bullish return to the market as the BTC price witnessed massive buying demand and rose towards the $65,000 mark. While BTC’s dominance is currently increasing, any small 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 that it may have reached its peak. 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 value of altcoins, suggesting that a market bottom for altcoins may have been reached.
As altcoins begin to perform better than Bitcoin, this suggests that a rotation within the market is expected this week.
Bitcoin’s declining market share is often seen by market experts as a sign that an altcoin market recovery may be imminent. Investors are moving their funds away from Bitcoin during the price decline. If BTC price crashes 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 of $3.5. Despite the downward pressure that sent the WIF price plummeting towards $2.2, buyers continued to buy on the dip, triggering a solid rebound. As a result, the price of WIF rose to $3.37, marking an increase of more than 13% compared to yesterday’s price.
Currently, buyers aim to push the price above the nearby $3.6 resistance level. If they succeed, this could indicate the start of a new uptrend for the WIF/USDT pair, which could reach new all-time highs.
However, there are fears that this rally could be disrupted. 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 monitor the support level at $2.9 on a downside.
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 carried the price to $0.57, marking an impressive 26% increase over the past 24 hours.
Continued buying activity, rather than taking profits at these higher prices, suggests stable confidence among investors. There is a possibility that the price may temporarily return to its moving averages, which is expected to act as support. A robust recovery from these levels could set the stage for a rally above $0.75. Reaching this target could push the GLM/USDT pair towards the $1.4 handle and possibly extend gains to $3.1.
However, a drop below the moving averages could indicate a shift towards selling among holders.
Helium (HNT) price analysis.
Bulls have struggled to push HNT price above the $6 resistance but remain bullish. Currently, the price of HNT is trading at $5.6, up 33% from yesterday.
A rising 20-day EMA at $5.4 and positive RSI suggest potential upside, targeting upcoming resistances at $6.4 and $11.2.
However, if HNT falls below $4, the bears could gain the upper hand, pushing the price towards $3.4 next week.
Read also: Top Altcoins risk a potential collapse in the next week