Bitcoin price has risen finally above $17,000 after trying hard for nearly 45 days in a row. The upswing appears to be pretty strong and hence if the price undergoes a correction phase, it may still hold above $17,000 until extreme bearish sentiments slash the markets hard. In the meantime, popular altcoins like Cardano (ADA), Fantom (FTM), Avalanche (AVAX), and other 2 tokens display possibilities of a notable upswing.
A popular analyst, Micheal van de Poppe frames the upcoming price trend of these top altcoins.
Cardano price has been trading within a bearish trade set up for quite a long time as the price after losing from $0.3 constantly failed to regain the levels. However, the fresh price surge offered a significant push beyond the interim resistance. Presently, the prices are appearing to remain inflated and reach the specified targets at the earliest.
“This one looks beautiful, but it’s approaching resistance.
Just a relief rally in a downtrend, so far.
If it wants to break that downtrend, flipping $0.30 is key.
Otherwise, I’d be looking at $0.2675 and $.25 for potential plays,”
Fantom is among the coins which have been bullish since the beginning of the year 2023. The token has been withstanding significant bearish pressure and forming constant higher highs and lows. However, the analyst here believes that the token may soon face a rejection that may drag the price lower that may even retest the lower support.
“One of the coin I’d preferably keep on trading at this point.
Looks good for a significant rally Q1/Q2 of this year.
However, approaching resistance, probably one more sweep before we buy dips at $0.2130.
Break & flip $0.23-> $0.26 next,”
Similar to Fantom, Avalanche’s price also rose significantly since the beginning of the 2023 trade. However, after a slight pullback, the price again rose high and began to consolidate. The analyst believes that the price could rise significantly beyond the interim resistance and face a rejection to head back toward the interim support levels.
“Probably markets are going to break upwards, after some more consolidation.
For AVAX, liquidity taken above the area around Christmas.
Support at $11.30 was quite clear for a bounce, missed it.
Resistance now at $12 & $12.50. Dips at $11.30 and $11,”
Other than these, the analyst also mentioned about XCAD price which is heading towards the lower support and predicts a bearish outcome.