Top Altcoins To Watch Next Week: Altcoin prices struggle to attract attention while Bitcoin’s price stops rising near the $52,000 mark. However, Bitcoin is still becoming more dominant in the market, while altcoins are losing value. Despite this, top altcoins are getting noticed because of heavy buying, making people hopeful for a good week for Binance Coin (BNB), XRP, and Solana.
Bitcoin’s Slowdown Might Pump Altcoins
This week, Bitcoin’s price went over $52,000 and it keeps going up. This means people keep wanting to buy Bitcoin even as it gets more expensive. A report from a company called CryptoQuant that studies Bitcoin data says that about “75% of new money put into Bitcoin” comes from Bitcoin funds that are traded on the stock market.
It’s important to know that no investment keeps going up forever. Some experts think the recent increase in value might be getting too high too fast. It’s hard to tell when it will stop going up because it’s moving strongly now, but usually, when people get really excited, it’s not long before the value drops a lot. If that happens, a lot of money might move into different, less common cryptocurrencies.
Binance Coin (BNB) Price Analysis
The price of BNB is trying to go above $370, but sellers are stopping it. Because of this, there’s a strong fight over the price around $350. Right now, BNB is priced at $352, which is a little more than 1.7% lower than it was yesterday.
The long thin lines on the candlestick charts show that sellers are trying to stop the price from going above $367. For the price to start falling, sellers need to push it down below $337. If they succeed, the price of BNB could drop to around $319. At this price, more people might want to buy it.
If the price stays the same as it is now, it means people are positive it will keep going up. If it goes over $370, it could reach $400.
XRP Price Analysis
XRP’s price went down after it almost reached $0.58, falling slightly below a specific level called the 0.023 Fib level. Despite this, people who are buying XRP are keeping its price from falling further by keeping it above the average price levels. Right now, XRP is priced at $0.54, which is more than a 2.5% drop from what it was yesterday.
The price is getting close to a point where buyers and sellers are likely to fight a lot. If the buyers win, the price of XRP could go up and pass $0.59. Even though there’s a little bit of challenge around $0.6, it’s thought that it can be passed easily.
On the other hand, if the price starts to drop quickly below the average, it means that those looking to sell are keeping the price from going up. This situation might cause the price to go down to $0.50.
Solana (SOL) Price Analysis
The price of Solana fell from $116 because more people started selling it when it reached that price. This might lead to the price going back down to $103, which is an important point in the chart pattern. Right now, Solana is priced at $106, which is 2.1% lower than it was yesterday.
If the price goes back up from the neckline, it means that buyers have made this level a strong support area. This could cause the price to rise above $126. After that, the price of SOL might aim for $135.
On the other hand, if the price falls below a certain level, it might mean that people selling are taking advantage of higher prices to sell more. Although buyers might attempt to stop the price from falling further, if they can’t keep it up, the price might go down to $93.
Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.
