While the Bitcoin price is pushing the tops of the last 10 months, a few members of the altcoin market are taking action from a technical point of view. Here are the short-term targets in the list of Aptos, Arbitrum and Dogecoin…
5 altcoins to watch as Bitcoin takes action
Bitcoin price exceeded $ 30,500 and dragged the entire altcoin market with it. Now the momentum is expected to continue on several altcoins after BTC. At this point, crypto analyst ‘Captain Faibik’ believes that a mini altcoin season has already begun and altcoins are on the verge of a big boom.
In his current analysis, he has listed the 5 altcoins approaching this move and the technical catalysts behind the rise. Detailed cryptocurrency market analysis is as follows…
Optimism, Injectve, Aptos, Arbitrum and Dogecoin analysis
Dogecoin, one of the most active coins, has been trading in a deep descending parallel channel for quite some time since it marked highs near $0.8. However, the recent bullish breakout helped the price move above consolidation after maintaining a moderate uptrend since the start of the year. Meanwhile, the price is expected to rise significantly until it reaches a new high for the year above $0.15.
At this point, the analyst predicts that DOGE price will break out big and rise and head towards the tops: “DOGE bullish flag breakout confirmed by strong bullish volume. Hold it patiently.”
In one of the rally catalysts, Dogecoin had recently become Twitter’s logo. In a recent move, eToro has triggered the second rally on price with a new Dogecoin integration exclusive to the Twitter app. cryptocoin.com We have included the details in this article.
Arbitrum (ARB)
Arbitrum has witnessed a huge rise over the past few days, collecting more than 37% of earnings. Shortly after launch, the token experienced extreme selling pressure as it lost more than 85% of its value. However, the recent rally marks a bullish resurgence as the token seems poised for a notable breakout from interim consolidation.
The analyst had previously predicted that a major ARB relief rally was fast approaching, and now the price has risen in an iconic fashion. It recently regained intermediate highs above $2. The price has formed a bullish flag in the short term which confirms the claim of a bullish breakout in the coming days.
aptos (APT)
Similar to other altcoins, Aptos price also experienced a bullish breakout, breaking above the consolidated, descending parallel channel. The price has been trending for a long time along the upper resistance of the channel, preparing for a strong breakout that seems to have been achieved after the giant move.
The analyst believes that a bullish breakout could continue as the price forms a bullish flag and there will be a good bullish break ahead. He also predicts that the price could rise enough to rise above $28 in the coming days with a huge price action of more than 100%.
Injective (INJ)
Injective price rallied thinly after suffering a massive drop, which allowed the price to break out of the descending consolidation. Now that the price has crossed the main trendline, a good uptrend looks imminent. Currently, the price seems to be on track to reach the desired target above $15 by rallying 2x.
On the analyst INJ side, he draws attention to the strength of the price, which has increased the price since the beginning of the year. Therefore, the altcoin is able to sustain a slow but steady rise without taking a bearish turn. Therefore, INJ price may hit double digits initially, after which the uptrend may turn into a bull run.
Optimism (OP)
Optimism price initially broke out of the decisive symmetrical triangle and rose to new year highs. However, the price continued to rise significantly, but remained consolidated at certain levels, forming a bullish flag. Therefore, a bullish breakout now looks imminent.
Additionally, the price is coming out of consolidation so a huge price action could be fast approaching. According to the analyst, the OP is breaking the bullish pennant on the daily TF chart. The price estimate for this setup is around $5.
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