Top 3 Altcoins Poised To Breakout Soon!

1 year ago 95

The post Top 3 Altcoins Poised To Breakout Soon! appeared first on Coinpedia Fintech News

Nearly two weeks after the approval and listing of several spot Bitcoin exchange-traded funds (ETFs) in the United States, it is safe to assume that the event had already been priced in during the fourth quarter of 2023 Bitcoin (BTC) bullish breakout.

Furthermore, the recent accelerated Bitcoin selloff by whale traders, short-term holders, and miners has weighed heavily on the BTC dominance against the altcoin market. As a result, it is prudent for crypto traders to keep a close watch on the altcoin market, as more gains will be registered shortly.

Altcoins to Pay Close Attention to in the Coming Weeks

Chainlink (LINK)

Request 01 – $LINK | @chainlink

This one looks primed for continuation.

The $BTC pair is making higher highs, higher lows & held a higher timeframe support level.

Expecting a breakout to $25-30 in the coming months to occur. pic.twitter.com/JIIJ1QgB2H

— Michaël van de Poppe (@CryptoMichNL) January 21, 2024

While Bitcoin price has been showing short-term weaknesses in the past three weeks, Chainlink (LINK) price has been gradually awakening from a weekly consolidation. According to the latest market data, LINK price has rallied nearly 30 percent in the past three weeks to trade around $15.72 on Monday during the early Asian session. According to a popular crypto analyst Michaël van de Poppe, LINK price could easily reach $25-$30 in the near term if the bulls hold on the support range between $12.5 and $13.1.

Arbitrum (ARB)

Request 01 – $ARB | @arbitrum

I've been mentioning the fact that corrections do take place.

Just like any other project, $ARB is having one.

This region between $1.40-1.85 is an area I'd be looking to get myself positioned before a potential run to $3. pic.twitter.com/FhbnrLoB41

— Michaël van de Poppe (@CryptoMichNL) January 21, 2024

The other altcoin to pay close attention to for a bullish breakout in the near term is Arbitrum (ARB), the leading Ethereum-based scaling solution with more than $2.6 billion in Total Value Locked (TVL) and over $2 billion in stablecoins market cap.

According to Poppe, ARB’s price can easily reach $3 after it finishes the current market correction. Furthermore, the altcoin is currently retesting the support level around $1.78 after rallying towards a new all-time high (ATH) of around $2.3

Cosmos Hub (ATOM)

Request 04 – $ATOM | @cosmos

Cosmos has been lagging behind like Polkadot.

Crucial area to hold, if this area between $7.50-9.00 is going to hold, likely a breakout to $22-26 seems next. pic.twitter.com/WK9EgBcHid

— Michaël van de Poppe (@CryptoMichNL) January 21, 2024

As for Cosmos Hub (ATOM), a rising interchain ecosystem, Poppe is convinced the altcoin will reach as high as $26 in this bullish cycle if the bulls hold on the support level around $9. Furthermore, the weekly Relative Strength Index (RSI) has held above the 50 level in the past few weeks despite the ongoing market correction.

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