Altcoins, both large and small-cap, are showing bullish signs as Bitcoin holds above $37,000.
Bitcoin’s demand is expected to surge between two to 10 times by the end of 2024, according to MicroStrategy co-founder Michael Saylor.
Analysts predict that Bitcoin could reach at least $110,000 in its next bull cycle.
Several major altcoins are charging higher, increasing hopes for an altcoin season.
Bitcoin price analysis:
– Bulls are defending the breakout level and may push the price towards $40,000.
– Overbought levels on the RSI warn of a potential correction.
VeChain price analysis:
– Bulls are trying to flip the $0.021 level into support.
– If successful, the price could rally to $0.028.
– Failure to rise above $0.023 could lead to a drop to the 20-day EMA.
Immutable price analysis:
– Bulls attempting a comeback, facing resistance at $1.30.
– A break above resistance could start a rally to $1.59.
– Overbought levels on the RSI suggest a possible correction or consolidation.
The Graph price analysis:
– Bulls have managed to keep the price above the 20-day EMA.
– If they overcome resistance at $0.16, the pair may resume its uptrend.
– A break below the 20-day EMA could indicate the end of the up-move.
Algorand price analysis:
– Forming a rounding bottom pattern, which will complete on a break above $0.14.
– Upsloping moving averages and overbought levels on the RSI indicate bullish sentiment.
– A break below the 20-day EMA could lead to a correction to $0.10.
Summary:
– Altcoins are showing bullish signs as Bitcoin remains strong.
– Bitcoin’s demand is expected to surge by 2024.
– Analysts predict Bitcoin could reach $110,000 in its next bull cycle.
– Major altcoins are charging higher, increasing hopes for an altcoin season.
– Bitcoin and altcoin price analysis shows potential for further gains.
