Altcoins Buck Bitcoin's Collapse, Signal Next Crypto Rally
1min read Crypto strategist Credible Crypto has identified several altcoins that are holding their own against recent lows despite Bitcoin's (BTC) price collapse, suggesting they could lead the next digital asset rally. These altcoins, including Litecoin (LTC) and XRP, have shown market strength by maintaining key support levels, indicating a potential trend reversal.
At the time of writing, LTC was trading at $127, with a marginal increase in the last 24 hours. Meanwhile, XRP was trading at $2.15, down 1.6% on the day. The analyst believes that these altcoins, which have held their relative lows during Bitcoin's price drop, may be the ones to drive the next rally in the crypto market.
In addition to his altcoin picks, Credible Crypto also shared his outlook on Bitcoin's price action. He expects BTC to trade sideways in the coming days before a potential breakout. The analyst highlighted two key levels: local supply at $94,000-$99,000 and high timeframe demand just under $74,000. He suspects that Bitcoin will form a base between these two levels over the next few days before a full-on reversal.
Bitcoin was trading at $85,070 at the time of writing, with a fractional increase in the last 24 hours. As the crypto market continues to evolve, investors and traders should keep an eye on these altcoins and Bitcoin's price action to identify potential opportunities in the market.
