The post These Altcoins are Approaching Crucial Levels-Can They Trigger a Bullish Breakout? appeared first on Coinpedia Fintech News
The crypto markets continue to remain under a bullish influence, but the star crypto, Bitcoin, remains stuck within a narrow range. The dominance of Bitcoin has witnessed a minor plunge in the past few days. After reaching highs of around 52%, the dominance is dropping heavily by 1.36% and is currently hovering at 50.94%.
The dominance previously underwent a similar action and experienced a minor pullback. If history repeats itself, after the pullback, the altcoins may be triggered for a massive upswing. However, after some time, dominance may resume its upward trajectory and mark highs above 58%, as per a popular analyst, Rekt Capital.
Now that Bitcoin’s dominance is experiencing a slight pullback, some of the altcoins appear to be at the foothills of a massive explosion. One among them is the PEPE coin, which has pulled a massive upswing in the past few hours, triggering a jump of over 20%. The price is currently testing one of the crucial areas, and a clear breakout above the levels may trigger a bullish breakout.
According to a popular analyst, Altcoin Sherpa, the PEPE coin, which is trading at 0.6 FIB levels, is closer to testing the next FIB levels at 0.5 FIB levels. The PEPE price is experiencing a massive upswing and is testing the same levels at which it experienced rejection a couple of times before. Now that the price is trading at the neckline of the cup and handle pattern, a bullish breakout appears to be imminent.
Another altcoin that is about to manifest a massive upswing is Solana, which is closer to testing some crucial levels. The SOL price is approaching one of the crucial resistance levels, and a breakout beyond these levels could trigger a bullish reversal. However, according to an analyst, Crypto Rand, the price may face a consolidation before the reversal.
Collectively, the altcoins are gearing up and trying to secure levels above the crucial resistance. Once done, these altcoins may trigger a massive upswing, which may enable the price to rise in the coming days.