Market Analysts Anticipate Potential Surge in Altcoins

Altcoins May Rise

In today’s market analysis, Moustache highlighted the formation of the first golden cross for ETH after a long period. This event could signal a larger price increase. More importantly, it might establish a foundation for an upcoming rise in many altcoins, particularly those within the Ethereum ecosystem.

“After more than a year, the first Golden Cross for $ETH has occurred. Historically, this was when altcoins began to rally significantly. This time, however, the situation seems different.”

Benjamin Cowen has repeatedly warned of potential dips in the ETHBTC pair. Today, he noted that the last cycle for ETH was delayed, with new peaks not occurring until after BTC. He believes that the ETH/BTC pair must find a bottom in the 0.03-0.04 range.

Despite the recent ETH surge, Cowen expects a deeper dip. However, the resistance that has been surpassed in the ETHBTC pair may prevent a significant decline.

Solana (SOL)

“SOL looks promising and appears to be back in an upward trend. Once we break and hold above $247, we should see a retest of all-time highs. Currently, ETH is trying to catch up to SOL and BTC, which still looks great for more upward movement.”

BTC is aiming for a return to $100,000, having recently tested $99,500. Following liquidations in the futures market, there could be quick gains if BTC holds above $100,000 over the weekend.