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December 8, 2022
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These Altcoins Might Explode This Week, With Bitcoin Price Surging Above $20K

The post These Altcoins Might Explode This Week, With Bitcoin Price Surging Above $20K appeared first on Coinpedia Fintech News

Bitcoin price continues to hover within $19,000 to $20,000, while altcoins have started to undergo a slight sell-off. Meanwhile, some altcoins are also showing some strength and hence a notable rebound may be expected. A popular analyst, Micheal de van Poppe, in his latest video believes that the upcoming week is the decider for the BTC price as it hovers within crucial range. 

The crypto markets are becoming less interesting nowadays but the upcoming weeks may be bullish. As quoted by the analyst, there are no macro events lined up in the coming weeks and hence the markets are expected to stabilize a little. 

Therefore, he believes, this time may be the decider for the BTC & entire crypto markets, as an equal possibility of breaking the downside or raising beyond resistance may happen in the next 2 to 3 weeks. Additionally, the analyst also lists a couple of altcoins that are all set to explode immediately after the Bitcoin price finds some stability.

Near Protocol (NEAR)

Near Protocol has been largely bearish since the mid of July and also an attempt to regain the lost levels post a pullback also went in vain. Presently, the price has been trading within extreme bearish pressure since the beginning of September, due to which the price has now slumped below $3. 

The NEAR price currently is trading within crucial ranges where-in a rebound appears to be mandatory. If the price rebounds and reclaims the positions above $3.08, then the bulls are expected to uplift the price beyond $4. Else, the bearish dominance may eventually drag the price below $2.5 in the coming days.

Avalanche (AVAX)

Unlike the NEAR price, the Avalanche price continues its trade within a bearish channel, testing the lower support. The price rebounds each time it tests these levels and hence a similar action is expected now, which could uplift the price soon. However, the asset still does not flash the possibility of going long until it reaches certain levels. 

The AVAX price has flipped each time it tested the lower support and hence with a repetitive trend, the price may reach $17. Reaching & sustaining at these levels may soon trigger an upswing beyond $20 which may validate a decent uptrend ahead. 

However, the current market conditions are slightly consolidated, and hence with a slight relief from the bearish pressure, BTC prices are bound to rise. Following this, the altcoins may also rebound and surge high, discarding the bearish pressure. 

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