On the agenda of the cryptocurrency market is the possible spot Bitcoin ETF approval. Therefore, the focus of the market is on Bitcoin. However, analysts predict that this wind will also move altcoin prices forward. The analyst nicknamed Jelle draws attention to 3 altcoins.
Main altcoin holdings: SOL, INJ and TIA
With the recent rise in Bitcoin price, altcoins are showing promising signs. However, it is unclear whether a potential spot Bitcoin ETF approval would positively impact its prices. Looking at the historical performance of altcoins and their respective accumulation and retest phases, crypto analyst Jelle predicts that a potential increase in their prices is on the horizon. In this context, the analyst points out 3 altcoin projects:
It looks like altcoins are ready to take off, and ETFs are just around the corner. We’re going to go for a ride. Main altcoin holdings: SOL, INJ and TIA.
First altcoin on the list: Solana (SOL)
The latest rally from BTC did not leave Solana behind. Because he managed to make significant gains in just one day. On the hourly chart, Solana is showing indicators of a potential bull flag formation. According to crypto analyst Ali Martinez, a decisive breach above the $110 resistance level would be a potential catalyst for a significant upward move. If this formation continues, it is possible for Solana to move towards a notable target of $163.
Meanwhile, at the time of writing, Solana was trading at $101.56. This represents an increase of over 6% in the last 24 hours. However, the altcoin saw a decline of 7.78% over the previous seven days. On the other hand, it has made a significant gain of 41.97% over the past month.
Injective (INJ) comes in second place
Injective is preparing to unveil its Flywheel upgrade, a significant development that brings new capabilities and improvements to its ecosystem. This upgrade includes features such as IBC Cross-Chain Expansion providing greater interoperability, improved scaling to support growing demands, and adding an RWA Module for expanded functionality. Experts expect the Flywheel upgrade to further boost Injective’s appeal after achieving significant success in 2023. According to crypto investor Lark Davies, this upgrade will make Injective responsive to market needs.
Meanwhile, at the time of writing, INJ was trading at $42.14, up 1.84% in the last 24 hours. Moreover, the altcoin has recorded a significant rise of 120.76% in the last 30 days. INJ made a gain of 5.89% on its weekly chart.
Last ranked altcoin: Celestia (TIA)
Celestia’s price has exhibited a rising parallel channel trend since November. TIA has consistently confirmed both resistance and support trend lines. However, on December 16, a rejection occurred at the resistance trend line of the channel. This resulted in a downward move and a break of the channel on December 25. cryptokoin.comAs you follow from , TIA fell to a low of $9.36 on January 3. The price then recovered rapidly and broke through the support trend line of the channel. Additionally, it recently reached an all-time high. Crypto analyst Georgie1Trader commented positively on TIA on January 5 due to its potential price range.
Meanwhile, TIA was changing hands at $16.03 at the time of writing, a 17.15% increase from the previous day. In addition, the altcoin gained over 24% last week. Moreover, it saw a notable rise of 66% on its monthly chart.
The opinions and predictions in the article belong to the analysts and are definitely not investment advice. We strongly recommend that you do your own research before investing.
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