Bitcoin’s price has experienced volatility in the past 24 hours. Indeed, the BTC managed to exceed $ 107,000 before returning to $ 102,000. Despite these turbulence, the Bitcoin price remains solid and records a sixth week in a row in the green thanks to a fence beyond $ 106,000. It is simply the highest closure in weekly in its young story. Ethereum, for his part, evolves beyond $ 2,000, but he does not take the opportunity to recover the $ 3,000.
Do Altcoins take advantage of the rise in bitcoin? What are the most efficient sectors? We zoom in on low capitalization assets in the analysis of the day. Let’s go!
Altcoin capitalization blocks against resistance at $ 1,200 billion
The price of altcoin capitalization has recorded a lower market around 830 billion dollars. Following this bottom, the course climbed more than 50 %. Thanks to the recent rebound, buyers regain hands in a time of time 3 days. However, the course has been blocking for several days around the resistance at $ 1,200 billion and against the Dowing trendline ::
In case of rejection More importantly, the course could try to find buying force around the mobile averages 9 and 18 upwards and at the level of the Support at $ 1,100 billion. To accelerate towards the last summits, it will take a break in the trendline and the resistance at $ 1,200 billion. If such a scenario was set up, the capitalization of altcoins could take advantage of it to Join the Ath at $ 1,710 billion.
The RSI momentum indicator draws bullish structures For several weeks. So these are the Buyers who have hands on the momentum.
Altcoins have been correct for a week, and the highest capitalizations limit breakage
Last week, all the altcoin sectors displayed important increasesespecially same. But the time is at the Correction for altcoins. All the categories present on the block site is in the redeven if Bitcoin is getting closer to its latest historical high.
This downward reaction shows that Altcoins are always fragileand that theAltcoin Season is not for now. THE Solid sectors are as follows:
- Top 30 Altcoins : -5.6 %
- LAYER 1 : -6.8 %
- Top US tokens : -9.5 %
Only Three categories record drops of less than 10 % over the last seven days, and very Few altcoins are positive over a week In the top 100:
The asset that is the most efficient over the last seven days is theOnyxcoin (XCN). It climbs nearly 10 %. Then, to complete the podium, we find the Bitget Token (+ 5 %) And Hyperliquid (+4 %). The exchange assets are relatively efficient over the previous week.
The Onyxcoin (XCN) course could bounce back towards $ 0.05
Few altcoins have been very efficient since the start of the cycle, but Onyxcoin is one of those who manage to perform. The course exploded more than 7,000 % From the lowest of 2023, and he always displays a Continuation of hollows and ascending peaks In 3 days:
Currently, the course is changing around the level of Support at $ 0.017and between the mobile averages 9 and 18 disturbances. A new increase could send the course to the next level Resistance at $ 0.05. On the other hand, a Loss of the support at $ 0.017 could send the course to the Support at $ 0.008. And to avoid a double top in 3 days, it will be necessary to keep the hollow at $ 0.0076.
THE RSI rebounds For several days, there will be a development beyond 62 To draw a series of hollows and ascending peaks.
The BGB of Bitget has been in store since February
The BGB of Bitget is also in Handy conditions. Indeed, we can see that these are the Buyers who have hands For several months. However, since February, the Buyers and sellers neutralize between resistance at $ 5.2 and $ 4 support ::
A break in the Resistance at $ 5.2 could send the course to the Resistance at $ 8. The course would then be very close to recording a New Historic High High. On the other hand, if the course Blocked out of $ 5.2he could return to the height of $ 4 support. It will be necessary to keep this support to avoid having downward volatility on this active.
The indicator RSI increases For several weeks. A news bullish phase takes shape on the RSI, and buyers could enjoy a Bullish momentum.
Hyperliquid (hype) must break the resistance at $ 28 to accelerate
Since the Bitcoin reboundthe hype course has literally exploded. Indeed, since April 7, the hype course has increased more than 200 %. The course draws again hollow and bullish peaksand he is back on the Resistance at $ 28 ::
In case of rejectionthe course could rely on the Support at $ 20 and on the mobile averages 9 and 18 bounces to bounce back. But for accelerate beyond ATH From the end of 2024, it will be necessary to make give in the sellers around $ 28. THE RSI increases Since April, the buyers have a hand on the momentum.
Key elements to remember
The Bitcoin course is very close to recording an ATH beyond $ 109,700, and yet Altcoins do not take the opportunity to explode, quite the contrary. All crypto sectors are in red, and some rare altcoins are efficient, such as Hype, BGB and XCN. To have assets that explode, the capitalization of Altcoins will have to break the resistance at $ 1,200 billion. Good news for altcoins, Ethereum seems to have (finally) awakened.