These Altcoins May Thrive if Bitcoin (BTC) Price Leaps Long Beyond $30,000
Bitcoin price from the past 30 days has displayed significant strength and due to which the altcoins also have geared up to some extent. These assets appear to follow the market trend set by the star crypto and act accordingly. However, as the BTC price gains some stability in its price, altcoins like UNI, ATOM, AVAX, BNB, LINK, DOT, etc may explode.
The Uniswap price is undergoing a parabolic curve recovery where-in a spike appears to be fast approaching. While the buying volume is been on a rise, the probability of the asset maintaining a firm uptrend seems pretty high. However, as the BTC price surpasses $25,000, the UNI price may also climb above the neckline at $12.
The ATOM price is swinging within a parallel channel ever since the market collapsed in May 2022. Since then the asset remained heavily consolidated, eliminating minor surges in between. Therefore, after a huge accumulation of strength, the asset may display a strong breakout which may uplift the price by nearly 45% initially.
Similar to ATOM, Avalanche price is also trending within a parallel channel but in an ascending manner. Moreover, the buyers also appear to have maintained their strength throughout the rally. Therefore, with some stability in the market sentiments, the asset is expected to explode and hit $50 in no time.
BinanceCoin, with the fresh surge, has managed to surpass the upper resistance of the ascending channel. However, the bears are currently trying to restrict the BNB price to a large extent and hence a retest towards the resistance is quite possible. Further, a strong rebound may uplift the price beyond $300 very quickly.Source