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June 16, 2024
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These Altcoins Are Best Bets For Coming Week! Here’s What Traders Need To Watch Out

The post These Altcoins Are Best Bets For Coming Week! Here’s What Traders Need To Watch Out appeared first on Coinpedia Fintech News

The 25-bps interest rate hike with a solid report on job growth in the US economy has delivered a shockwave to the crypto market. While leading assets like Bitcoin and Ethereum prices are hovering near an uncertain price point, the altcoin market is performing relatively well and fulfilling investors’ bullish expectations.

Moreover, the developing teams behind prominent altcoins are all set to bring new enhancements to the network, which may bring a fruitful ROI in the coming week. 

These Altcoins Are Poised For Bullish Breakouts By Next Week

The altcoin market is currently leading the charge as popular assets like Cardano, Litecoin, and BNB are printing impressive surges in the price chart.

Moreover, the downturn in the BTC price trend has attracted whale investors to try their luck on altcoins as they seek to max out their profits with the exponential spike in the altcoins’ prices. If Bitcoin price follows its golden cross next week and begins a bull market, it may push the altcoin market to the North by 10x. 

Cardano Price Analysis

As the Cardano Network is slowly approaching a major network upgrade which is the mainnet hard fork scheduled for 14 Feb, it creates highly bullish expectations in the ADA community. Moreover, on-chain analytic firm, Santiment, noted that the number of ADA transactions worth $100K had touched a 12-month high, signifying a spike in buying pressure and hype from whale holders. 

As of writing, the ADA price trades at $0.4026, with a decline of 0.26% from yesterday’s price. Analyzing the daily price chart, Cardano may surprise investors with a historical trend continuation of its bull market.

As witnessed during the bull run of 2018 and 2020, ADA price made an ROI of 6,500% and 16,150%, and this year ADA may spark even more surges with bullish developments in the network. By the next week, a breakout above $0.43 may force investors to accumulate more ADA tokens and bring intense buying pressure to the price chart. 

Litecoin Price Analysis

It seems that the LTC price is on a mission to touch new heights this week, as it recently broke its psychological price level of $100. Though the recent surge may tempt short-term investors to book profit, it leaves long-term holders hopeful of an extended uptrend. 

As of writing, Litecoin trades at $99.79 after facing a minor rejection near $102. The RSI-14 trend line hints at a minor correction to the $90 price level to make an entry-level for bulls to strengthen next week’s bull run. If the LTC price rebounds off the 20-EMA level, it may reach Bollinger band’s upper limit of $140 by next week. 

Binance Coin Price Analysis

Binance coin is building potential to jump to its next resistance levels next week as buyers are not allowing the BNB token to slip below the immediate support level of $318. However, the Stoch RSI may test bulls’ patience as it trades in an overbought region, which may initiate a downtrend to $310. 

It is predicted that the BNB price may consolidate above the EMA-20 level and aim for a breakout above $350, extending its uptrend to $400. 

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