According to crypto analyst Valdrin Tahiri, these three altcoins are trending bullish compared to Bitcoin (BTC). Additionally, it has the potential to outperform Bitcoin in January 2024. The analyst predicts that they will exceed the gains in BTC in 2024.
Axie Infinity price prediction: Altcoin broke out of long-term resistance
The altcoin price had fallen below the long-term descending resistance trend line since October 2021. The decline led to a low of 13,400 satoshis in October 2023. AXS price has increased since then and broke out of the resistance trend line last week. At the time of the breakout, the trend line had been in place for over 800 days. With the RSI as a momentum indicator, investors can determine whether a market is overbought or oversold and decide whether to accumulate or sell an asset.
If the RSI value is above 50 and the trend is upward, the bulls have an advantage. However, if the value is below 50, the opposite is true. The weekly RSI rose above the indicator 50 in the same week that the price broke out of the trend line. That’s why (green icon) supports the breakout. After the breakout, AXS reached minor resistance at 24,500 satosides and fell slightly. If it breaks, it is possible for the altcoin price to increase by 145%. Thus, it will reach the next resistance at 60,000 satoshis.
Despite this bullish AXS price forecast, a failure to close above the 24,500 sats resistance area could trigger a 30% drop to the descending resistance trend line at 16,000 sats.
Binance Coin price prediction: BNB breaks above 400-day resistance
BNB price has fallen below the long-term descending resistance trend line since November 2022. The decline led to a low of ₿0.0051 in December. BNB then started an upward move. Thus, BNB has now broken above the resistance trend line. Although the altcoin reached a high of ₿0.007 and broke above this trend line, it has not yet reached a close that would confirm the breakout. Also, the RSI is rising, broke out of its resistance (green) and moved out of the overbought zone. However, it has not managed to get above 50 yet. If the breakout continues, it is possible for BNB to rise another 25%. Thus, it will reach the next resistance at ₿0.0088.
Despite the bullish BNB price prediction, a close below the trendline would invalidate the breakout. Afterwards, BNB is likely to drop 25% to its December low of ₿0.0051.
Arbitrum price prediction: Altcoin could rise 15% against BTC
The last altcoin that has the potential to outperform Bitcoin is ARB. Similar to the other two, ARB price broke out of a descending resistance trend line last week. The breakout occurred before the bullish divergence in the weekly RSI, legitimizing the upward move. Following the breakout, ARB reached 3,350 satoshis before falling slightly. In all cases, the price closed above the resistance trend line. If the upward movement continues, it is possible for the altcoin price to increase by another 15%. Thus, it will reach the next resistance at 3,700 satosides.
Despite this bullish ARB price forecast, a close below the trend line could lead to a 20% decline to the nearest support at 2,600 satoshis.
The opinions and predictions in the article belong to the analyst and are definitely not investment advice. cryptokoin.com As, we strongly recommend that you do your own research before investing.
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Analyst Highlighted Targets: 3 Bullish Altcoins That Will Overtake BTC in 2024!