Hard Hit Altcoins Set to Lead Recovery as Bitcoin Approaches $70K: Key Tokens to Watch
Release: 2024/08/23 13:34 Reading: 257
Hard Hit Altcoins Positioned for Recovery as Bitcoin Approaches $70K
The cryptocurrency market is poised for a significant uptrend, with Bitcoin spearheading the rally. Several altcoins are exhibiting breakout signals, including:
Emerging Performers
- Render (RNDR): Gaining momentum and poised for a rally.
- Chainlink (LINK): Breaking out of previous resistance.
- The Graph (GRT): Approaching a strong breakout.
- Stacks (STX): Promising upward movement evident.
Critical Bitcoin Resistance
Bitcoin has regained the $60K level, now facing resistance at $62K-$63K. Analysts anticipate that a surge past this barrier could trigger a rapid return to its range peak, potentially elevating altcoin valuations.
Altcoin Market Outlook
The USDT dominance chart indicates an impending breakout, signaling potential recovery for previously battered altcoins. The market is expected to recoup recent losses, potentially surging Bitcoin to $70K and Ethereum above $3,000.
Altcoins to Monitor
- Gaming Sector: Altcoins such as Nakamoto and Beam are poised for significant breakouts.
- Potential Surge Candidates: NEAR, Arweave (AR), Dogecoin (DOGE), Fantom (FTM), Chainlink (LINK), Avalanche (AVAX).
- Theta (THETA): Breaking its trend, signaling potential price gains.
- Render (RNDR): In a buy zone, with potential for a rally towards $8-$10 or higher.
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