Markets
Altcoin rally stalls as BTC stabilizes at $67K
Crypto Market Analysis: The cryptocurrency market did not witness major changes over the weekends as Bitcoin traded slowly around $670,000, showing a modest intraday growth of 0.25%. Although neutral candles on the daily chart project uncertainty among traders, they are likely to project price sustainability above the recently breached level.
If BTC price manages to maintain above $65,000 in the coming days, buyers would get better confirmation to turn the current relief rally into a steady rally. Amid the potential recovery, buyers may find suitable entry opportunities for altcoins such as Ethereum (ETH), Chainlink (LINK), and BONK.
Read too: Vitalik Buterin names one thing he loves about the Ethereum ecosystem
1) Ethereum (ETH)
Ethereumlaunched in 2015 by Vitalik Buterin, it is a decentralized platform that allows developers to build and deploy smart contracts and decentralized applications (dApps).
Ethereum (ETH) | Trading view
This week has been notably bullish for ETH, showing a monthly support price of $2,878 to $311, recording an 8.8% jump. Currently, the Ethereum currency has a market value of US$374 billion and a 24-hour trading volume of US$8 billion.
If the bullish momentum persists, the Ethereum Price it could rise 4% before challenging the main resistance of the falling wedge pattern. A breakout beyond this channel is crucial for buyers to lead a sustainable run to the $4,090 high.
On the other hand, Ether coin could prolong its downtrend until the channel pattern is intact.
Read too: Analyst Predicts Ethereum ETF Will Trigger Big Moves in ETH Market
2) Chain link (LINK)
Chain link (LINK) is a decentralized oracle network that connects smart contracts with real-world data, APIs, and traditional payment systems, ensuring that smart contracts can interact with external data sources securely and reliably.
Chain link (LINK)| Trading view
LINK coin rose for five consecutive days, where the price jumped from US$12.8 to US$16.64, representing a growth of almost 30%. With a market value of US$9.78 billion, Chainlink coin maintains its position as the fifteenth largest cryptocurrency.
This recent rally has broken the resistance trendline that had been carrying a corrective trend for the past two months and the last swing high of $16. While this breakout signals a major shift in market dynamics, the LINK Price could consolidate above the inverted $16 support to stabilize the aggressive rally.
If the uptrend continues, $18.6, $20.7, and $22.8 represent crucial resistance to watch.
Read too: Chainlink Price Analysis: LINK Whale Accumulation Positions for $20 Breakout
3) Fuck
Bonk is a meme coin launched on the Solana blockchain. The goal is to bring the fun and community aspects of meme coins to the Solana ecosystem, similar to Dogecoin’s role in the broader cryptocurrency market.
Fuck| Trading view
An analysis of the daily chart shows the BONK Price is developing an inverted head and shoulders pattern with neckline resistance at $0.00003. This week, the coin’s price went from $0.0000214 to $0.000027, recording a remarkable growth of 28.8%.
With sustained buying, the coin’s price will likely surpass $0.00003, signaling the end of the previous correction. O Bonk The price currently holds a market cap of US$1.76 billion, while trading volume since yesterday has risen by US$238 million to reach US$692 million.
A successful breakout will encourage buyers to lead a rally to $0.0000478.
Read too: Bonk Price Prediction: Bullish Reversal Pattern Signals 22% Upside Potential
Main advantage
The cryptocurrency market is currently witnessing post-recovery consolidation – a period known as the stabilization of aggressive buying momentum. Bitcoin’s price consolidation around $67,000 limited altcoins’ recovery movement over the weekends. If BTC price manages to maintain above $35,000, the market will witness renewed recovery momentum.
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