Bitcoin‘s price recently dipped below $66,000, unable to overcome the resistance at $66,400. This movement may signal a challenging weekend for altcoins, with potential impacts expected on Bitcoin’s daily closing candle. However, experts suggest the situation isn’t catastrophic. Analysts are now turning their attention to specific altcoins like DOGS, GRT, RUNE, and JUP, offering varied predictions and insights.
What Are Analysts Predicting for JUP and DOGS?
Captain Faibik has provided a fresh analysis of JUP Coin, noting the increased interest in altcoins due to Bitcoin’s recent price trends. With JUP’s upward breakout from a descending channel, there’s potential for gains up to 120%. If his analysis is correct, JUP might revisit the $2.05 mark. Meanwhile, DOGS Token, after declining post its listing peak, shows signs of a trend reversal according to analyst Mikybull, suggesting a buying opportunity. Expected levels for DOGS could range between $0.0014 and $0.0018.
Why Are GRT and RUNE Gaining Attention?
TRADER XO questions the significance of recent market fluctuations, emphasizing the continued bearish trend despite temporary bullish sentiments. Historically, the market has shown upward movements, but current discussions point towards a waning bull market due to narrow breakouts. For RUNE Coin, Captain Faibik identifies a breakout past resistance, with a potential price rise to $12.50, following a 36% increase. Meanwhile, Waleed Ahmed highlights the undervalued state of GRT Coin, currently priced at $0.192, with a future target of $0.77.
Key findings from the analysis include:
- The potential for JUP Coin to achieve significant gains following its breakout.
- DOGS Token’s reversal trend offering a promising entry point.
- RUNE’s upward trajectory post-resistance breakthrough.
- GRT Coin’s current undervaluation compared to projected targets.
Though Bitcoin struggles with resistance levels, the shifting focus to altcoins offers new investment opportunities and analysis. Analysts remain vigilant, identifying potential gains in various coins while advising caution amid prevailing market trends. The evolving cryptocurrency landscape continues to engage investors seeking lucrative prospects beyond Bitcoin’s dominance.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/bitcoins-decline-sparks-altcoin-focus