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Altseason is here, whether you’re ready or not!
Bitcoin’s dominance is on the decline as the Ethereum Shapella/Shanghai upgrade has kickstarted the long-awaited altcoin season. With top meme coins already showing signs of decoupling, crypto cash flow is expected to shift towards altcoins in the coming weeks. Additionally, in a promising sign for altcoin investors, Binance, the largest centralized crypto exchange, has recorded a positive net balance of Bitcoin, with 7,101 BTCs in deposits over the past seven days.
Altcoins To Watch
In a series of tweets, popular crypto analyst @MikybullCrypto detailed a list of large-cap altcoins with breakout potential in the coming weeks.
As the Alts market begin seeing significant moves, let’s look at some large cap ALTs analysis
Lower cap Alts will be posted later.
Analysis based on P.A
1. #BNB
Breaking out of the ascending triangle. Target from here 450$
— Mikybull
Crypto
(@MikybullCrypto) April 18, 2023
1
Read on as dive deep into understanding all his recommendations and providing a fair analysis so you can make good investment decisions.
Binance (BNB)
According to the analyst, BNB has a high probability of breaking out of an ascending triangle soon. Furthermore, the asset has retested the upper side of the ascending triangle severally since June last year. The fourth largest digital asset by market capitalization gained approximately 8 per cent in the past seven days to trade around $344 on Tuesday. The analyst gave a BNB price target of $450.
Chainlink (LINK)
Chainlink (LINK) is another altcoin pointed out to have a high probability of a near-term breakout. Having consolidated in the same range since May 2022, the analyst is convinced the asset will soon explode to trade between $15 and $18.
Arbitrum (ARB)
Ethereum-based layer 2 scaling solution Arbitrum’s (ARB) is another altcoin with a high chance of breaking out soon. Trading around $1.75, up about 6.9 per cent on Tuesday, the analyst issued a short-term price target of around $2.5 and $2.8
Avalanche (AVAX)
With a price target of about $50, the analyst insisted Avalanche (AVAX) is ready for a big move on the higher timeframe.
Near Protocol (NEAR)
The analyst argued that the NEAR price will have to work on the resistance level around $3 to guarantee an upsurge towards $8.
Solana (SOL)
Ranked 11 by market capitalization, Solana’s price has ostensibly been forming a bullish outlook. As a result, the analyst is targeting 45 – 50$ for the short term and 80 – 100$ long term
