The crypto markets seem to be starting to consolidate after being massively bullish for more than a week. Crypto analyst Elena R looks beyond Bitcoin and takes a look at altcoin projects with potential.
Bitcoin to other altcoin to their projectsinterflow can intensify
The bulls are currently taking relief as they are exhausted after raising the global market capitalization to $1.28 trillion. Currently, the star crypto Bitcoin, after falling below $30,000, has slumped to $1.25 trillion as it has failed miserably to regain levels since its early trading hours.
Also, the flow of money from Bitcoin to other altcoin projects may intensify over a period of time as the leading crypto’s dominance is decreasing day by day. The current drop in Bitcoin price seems to have benefited altcoins as they refuel. Therefore, a significant price action can be expected in the coming days. In such a case, the altcoin projects mentioned below could start a good uptrend in a short time.
Arbitrum (ARB): Target $3 for altcoin
Arbitrum’s price managed to recover nicely last week, despite witnessing a massive drop shortly after its launch. By creating sustained bullish flags, the price managed to climb above $1.6. Meanwhile, the close target could be around $2, a net increase beyond $2.5 to $2.8 could pave the way for the tokens to reach the $3 target before the end of the quarterly trading.
Dogecoin (DOGE): Bulls remain stubborn
cryptocoin.comAs you can follow, the altcoin price has been on the rise since the beginning of March and maintains a steady rise. The price has skyrocketed before, as Twitter CEO Elon Musk changed the company’s logo to DOGE. The momentum waned when the original logo was restored, but the bulls seem to remain stubborn about the upcoming trend.
Shiba Inu (SHIB): A significant rise could be triggered
Altcoin price also broke above narrow consolidation as the trend remains high despite the prevailing bearish pressure. However, ADX is hovering in the lower bands and looking for a chance to trigger a rebound. Therefore, a significant rise could be triggered that could push the levels above $0.000013.
Polygon (MATIC): Solid bullish possible for altcoin
Altcoin price is trading within a largely expanding channel and is trading close to the lower support of the pattern. The price is believed to continue a solid upward move until it reaches critical levels around $1,245. Here, if MATIC fails to face a bearish move, the price could climb higher to secure the initial $1.3 levels and later test $1.4.
Alongside these, popular altcoins such as Cardano (ADA) and Ripple (XRP) prices may soon witness a significant push that could trigger a notable surge. Also, Ethereum price needs to be watched closely, as ETH price surges with a stable BTC price could trigger a spectacular alt season very soon.
The opinions and estimates in the article belong to the analyst and are not investment advice.
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