If Bitcoin Stays Above $60K, These Altcoins Will Drive Above 30% Gains.

2 months ago 35

The post If Bitcoin Stays Above $60K, These Altcoins Will Drive Above 30% Gains. appeared first on Coinpedia Fintech News

While Bitcoin(BTC) hovers near the bottom of $60K, holding above this would trigger the market and some potential altcoins may react parallelly.

The world’s biggest cryptocurrency Bitcoin is struggling to stay above $60K due to diverted global market attention, ETF outflows, and negative fundamentals.

With the ongoing arrest of Telegram CEO Pavel Durov, Ethereum (ETH) price is fighting near $2500, and Solana(SOL) is in the downtrend with -10% growth in 7 days.

If Bitcoin manages to push and stay above $60,000 the market conditions will turn faces and among all that could perform well, few of them show good potential to do so.

Mantra, Kaspa, Ton, Brett, Tron

Mantra (OM)

Mantra, one of the top coins in the RWA domain looks potential asset for surge. OM registered an all-time high in July 2024, following a downtrend and breakout from downward resistance on 23 August.

At press time OM price is $0.937 with 2.49% growth in 24 hrs, however, the coin is still 7.69% down in the last 7 days.

OM/USDT chart shows the asset performance after the breakout, not reversing to the zone shows bulls resitsted above $0.87 support.

The RSI at 52 is in the neutral zone and CMF, the money flow indicator is in negative shows a negative impact still exists. If the trend persists and bulls hold above $0.87, OM is expected to surge $1.

Kaspa (KAS)

The Bitcoin-like Proof Of Work (PoW) blockchain coin Kaspa is a good asset to look up to. KAS Price at the time of writing is $0.1678 with 1.23% gains in the last 24hrs.

Kaspa after the reversal of the 5th August dip is moving between $0.15 to $0.17 in an upward channel pattern. Additionally, the MFI ( Money flow index) that reads the flow of liquidity in an asset has turned from an oversold condition 2 days ago to a neutral zone.

Holding above the channel support with neutral money flow conditions, Kaspa may break above $0.172 and $0.178 in next sessions. In case of invalidation, the $0.14 zone is the support.

Toncoin (TON)

Pushed into correction by the arrest of Telegram CEO Pavel Durov, TON lost the $6 zone on 24th August and since then struggled to hold above $5.

But TON, if the parted way from the recent fundamentals stores great potential and the changing market sentiments will push this asset too.

TON/USDT Chart shows the price forming to close a descending triangle pattern, possibly closing the downtrend.

RSI Stands at 43, a neutral zone, and the OBV Indicator, On Balance volume trendline is loading upward steady and price is facing downward, This is usually referred to as a bullish signal.

If the trend holds, the TON coin will hit $5.6 as the first resistance and rally toward the $6 zone. If invalidated we still have support at $5.1 and one at $4.7.

Brett (BRETT)

The Base network-based memecoin Brett is in a massive downtrend with a monthly low of 34.05%. The asset in August showed a good recovery from $0.059 to the current price of $0.08118.

Looking at the BRETT/USDT Chart, the price action changed the behavior from creating a double top in a downward direction and showing a double top in an upward direction.

Having resistance at $0.09 and support at $0.0754, Brett will need continued accumulation and positive Bitcoin sentiment to validate the chart and show a strong reversal towards the time high of $0.19.

Tron (TRX)

One of the best-performing altcoins in this low-demand market, Tron’s (TRX) price at the time of writing is 0.1577 with a monthly rise of 22.73%.

Tro faced resistance at $00.161 (R1) and stays crucial for further decline with support at $0.1540.

TRX/USDT chart reveals surge from 18th August did not lose strength after reaching the $0.16 zone, the altcoin survived selling pressure.

Having seen, the Chaikin Money Flow (CMF) indicator rising near zero, but still in negative is a concern for further growth, and MACD is seen hovering near the histogram intact with the zero line.