The post Major Altcoins Poised for 5x-10x Surge Once Bitcoin Hits New ATH! appeared first on Coinpedia Fintech News
After recording a new ATH, the Bitcoin price recorded a significant correction in valuation, resulting in top altcoins following in their footsteps and displaying a similar trend. With the increased market volatility, the crypto industry continues to display a significant fluctuation in the chart.
In this article, we have covered the top altcoins that have the potential to record a massive surge in their respective portfolios once the market leader, Bitcoin, claims a new all-time high (ATH).
Dogecoin (DOGE):
The DOGE price traded in a closed range between $0.0562 and $0.0793 for a brief period, following which the bulls successfully broke out of the resistance level. Dogecoin then displayed a neutral trend for three months, after which bulls regained momentum and displayed a positive trend.
The DOGE coin price then recorded a jump of approximately 127% before rejection close to $0.180. Since then, the price has been trading between $0.153 and $0.200.
The technical indicator, MACD, displays a constant decline in the red histogram, indicating a decline in the selling pressure within the crypto market. Further, the averages show a bullish curve, suggesting a positive price action for the token in the coming time.
With the rise of Memecoins in the crypto industry, this token is expected to display a massive price action following the Bitcoin halving. If the bulls favor the market, the price will witness a potential surge this year. Conversely, a negative price action may pull the price toward its low of $0.0793.
Solana (SOL):
The SOL price traded between $17 and $31 for over three months, after which the bulls broke out of the range, where the altcoin displayed a neutral trend for over a month. The Solana token successfully concluded the year 2023 with a price tag of over $100.
The Solana token traded in a consolidated range between $97 and $136 for the first two months, during which it displayed significant fluctuations. Recently, the bulls regained momentum and successfully reclaimed the $200 mark. Since then, the price has displayed a neutral trend.
The Moving Average Convergence Divergence (MACD) displays a constant decline in the green histogram, indicating a decline in the bullish influence. Further, the averages show a high possibility of a bearish convergence, suggesting a bear power in the market.
If the market holds the price above the support level of $170, the bulls will regain momentum and prepare to test a new ATH this year. However, a bearish trend reversal may result in the price recording its crucial lows.
Shiba Inu (SHIB):
The Shiba Inu price traded in a closed range between $0.00000672 and $0.0000116 for over seven months, following which the hype for memecoins skyrocketed, resulting in the SHIB price experiencing a massive jump in its respective portfolio.
The SHIB coin price jumped over 222% before facing rejection at the resistance level of $0.00003062, after which the price lost momentum and recorded a breakdown. Since then, the price has been trading in a closed range between $0.0000237 and $0.0000300.
The MACD displays a constant decline in the chart, indicating decreased selling pressure within the crypto space. Moreover, the averages show a constant decline, suggesting uncertainty in the future price action of the coin.
If the hype for the memecoins regains traction, the Shiba Inu price will prepare to test a new high this year. Conversely, if the market sentiment fails to favor the bulls, the price will lose momentum and fall to test its yearly low.
