While Bitcoin (BTC) Struggles to Maintain Momentum, Certain Altcoins Are Holding Strong

While Bitcoin has struggled to maintain its momentum, certain altcoins are holding strong, signaling a potential breakout.

Bitcoin (BTC) may be struggling to maintain its momentum as it flits around a key price range, but certain altcoins are silently holding strong, setting the stage for a potential breakout. Popular analyst Credible Crypto highlights Litecoin (LTC) and XRP as the key tokens to watch.

Both have managed to maintain their support levels even as Bitcoin breached a critical support and later recovered above it. As Bitcoin slides below $80K, LTC and XRP have shown resilience, in stark contrast to BTC’s struggle to stay afloat.

Credible Crypto points out that while XRP has held its relative low, a drop to the high-timeframe (HTF) demand zone around $1.60 would challenge its current strength. However, Litecoin (LTC) appears more likely to hold higher, as its local low at $80 is still 33% away, compared to XRP’s 15% margin.

In response, Credible Crypto agrees, adding that if XRP breaks its range lows and hits HTF demand, it may not look as strong in the short term, but overall, the HTF remains bullish.

On the other hand, Ethereum (ETH) continues to flounder at $2.1K despite showing promise earlier this week with a potential triple bottom formation. However, if the market momentum shifts in favor of a new uptrend, we might see ETH move higher from here.

As the Bitcoin and ETH craze fades, several altcoins are now standing out in the current market. Solana, Pi Network, Dogecoin, and Cardano have shown surprising strength, presenting new investment opportunities.

Dogecoin (CRYPTO: DOGE) saw a 10.90% jump to $0.2044, largely driven by speculation of a potential ETF approval, which has fueled optimism among investors.

The price action in the past few days suggests that Dogecoin could be setting the stage for a steeper ascent.

Also, Cardano is showing positive buying signals, which could be a indication that the buying pressure is increasing and we might see the price of ADA moving upward.

LTC, XRP Among Stable Altcoins

In a market downturn, stability is a valuable asset. While Bitcoin has dropped below its key support levels, two altcoins—Litecoin and XRP—have managed to hold their ground.

This resilience makes them likely candidates to lead the next market recovery. At the time of writing, Litecoin is trading at $127, showing marginal gains, while XRP sits at $2.15, down 1.6% on the day.

Crypto analyst BearBull points out that while XRP has held its relative low, a drop to the high-timeframe (HTF) demand zone around $1.60 would challenge its current strength. However, Litecoin (LTC) appears more likely to hold higher, as its local low at $80 is still 33% away, compared to XRP’s 15% margin.

In response, Credible Crypto agrees, adding that if XRP breaks its range lows and hits HTF demand, it may not look as strong in the short term, but overall, the HTF remains bullish.

Bitcoin Price Action: A Final Note

After dropping to $79,000, Bitcoin recovered slightly to reach $85,070. According to Credible Crypto, BTC is likely to trade sideways between $74,000 and $99,000 before making a significant move. This consolidation phase could provide a foundation for select altcoins to surge ahead.

As Bitcoin’s price hovers around a key price range, its dominance continues to rise, now exceeding 60%. This high level of dominance keeps most altcoins in check, limiting their potential for substantial price movements.

However, despite the bearish market conditions, select tokens like XRP, Litecoin, Solana, Pi Network, Dogecoin, and Cardano have shown surprising strength, which is something that stands out in this bear market.

CryptoQuant’s CEO, Ki Young Ju, suggests that only a handful of altcoins will benefit in this cycle. Unlike past bull runs where most altcoins surged together, this time, only select assets tied to institutional adoption, stablecoins, and meme coins are standing strong.

The total crypto market cap is now at $2.76 trillion, testing the highs of 2021. However, many altcoins are still down over 80% from their peak. Investing in projects with real utility rather than hype might be the best strategy in this bear market.