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Amidst Bitcoin's struggles to break above $64,500, the crypto market shows signs of cautious optimism. Altcoins within the top 10 follow suit, with Toncoin (TON) poised for a 20% surge, Avalanche (AVAX) targeting $44, and Dogecoin (DOGE) due for a 25% climb. Traders anticipate breakouts as altcoins consolidate within narrow ranges, indicating potential for gains.
Bitcoin Struggles, Altcoins Show Promise
The cryptocurrency market has experienced a slight upturn, with Bitcoin (BTC) remaining within a narrow range. After a brief recovery from its local low of $56,500, Bitcoin has failed to rise beyond $64,500. This stagnation has led to increased bullishness among traders.
Altcoins Surge, Preparations for Diverse Price Action
Altcoins within the top 10 have briefly followed Bitcoin's lead, while others are positioning themselves for diverse price movements.
Toncoin (TON) Aims for 20% Upswing
Toncoin (TON) has emerged from a prolonged consolidation and bearish downtrend to trigger a significant upswing, reaching new highs of $7.5. Despite attempts by bears to dampen the rally, bulls have defended key support levels, fueling further momentum.
Currently, TON oscillates within a narrow range, signaling a potential spike in value. The price has rebounded from the 0.5 Fibonacci level and exhibits indications of increased buying pressure. The Moving Average Convergence Divergence (MACD) suggests a bullish crossover, indicating a rise in buying volume. Analysis indicates an expected rise towards the 1 FIB level, close to $8, in the coming days.
Avalanche (AVAX) May Hit $44 This Week
Avalanche (AVAX) has been confined within predefined resistance and support levels since reaching highs of $50 initially and later at $64. Following a sharp pullback, AVAX has consolidated along a lower support, hinting at sluggish bullish activity.
However, expectations are that AVAX will continue consolidating within a narrow range before triggering a strong upswing towards a higher range. Bollinger bands have converged significantly, indicating a period of stability. Volume has also declined, with bears maintaining dominance. The average Bollinger bands provide a solid foundation for a potential breakout towards an initial target of $50, followed by higher levels.
Dogecoin (DOGE) Gearing Up for 25% Rise
Dogecoin (DOGE) experienced a substantial upswing in the final days of the first quarter, attracting significant trader interest. Despite bearish efforts to revert levels, bulls successfully regained ground and established new yearly highs. Since then, DOGE has maintained a steep downtrend, which recent market trends suggest could be reversing.
DOGE bulls have defended $0.153, effectively nullifying bearish pressure and laying the groundwork for a fresh upsurge. The price consolidates within a narrow range, and the anticipated outcome is a bullish breakout above immediate resistance.
The Relative Strength Index (RSI) on the 4-hour chart has signaled a bullish reversal, indicating that the price may soon break through the barrier and reach immediate resistance at $0.1651. While bulls may encounter some resistance at this level, a subsequent consolidation period could pave the way for a surge towards $0.18.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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