Originally published on: October 27, 2024
Bitcoin has shown strength by pushing above $68,000 despite a slight dip this week. Analysts at Kraken believe that as long as Bitcoin remains above $66,500, the trend should stay positive. However, some analysts like Luca have warned of a possible drop to $60,000 before a local bottom is confirmed.
Many analysts predict an altcoin season after Bitcoin dominance falls below 60%. Crypto trader Willy Woo believes that while an altcoin season will occur, it may not be as intense as in previous cycles.
With Bitcoin surging above $70,000, could this be a buying opportunity for altcoins? Let’s take a look at the top 5 cryptocurrencies showing strength in the charts.
Bitcoin is currently facing resistance at $70,000 but may rise to $72,000 if bulls maintain control. However, a break below $65,000 could lead to a drop to $60,000.
Solana (SOL) broke out of an ascending triangle pattern and could rally to $189 if it crosses the $179 resistance level.
Dogecoin (DOGE) has broken out of a symmetrical triangle pattern and may surge to $0.17 and $0.19 if it maintains above the $0.15 resistance.
THORChain (RUNE) has formed a symmetrical triangle pattern, and a breakout could lead to a rally to $6.76.
Bitget Token (BGB) is gradually climbing and may rally to $1.34 if it breaks above the $1.22 resistance level.
As Bitcoin continues to show strength, altcoins like SOL, DOGE, RUNE, and BGB are poised for potential gains. Stay tuned for more updates on these cryptocurrencies.
