These Altcoins Gains User’s Attention While Bitcoin and Ethereum Struggle
After trading below the crucial support level of $27,000 for a couple of days, the Bitcoin price has reclaimed the levels at press time. Meanwhile, the second-largest crypto, Ethereum, also slipped below $1800, which it reclaimed during the early trading hours. Amid the bearish influence, some of the altcoins have been exhibiting acute strength and appear to be preparing for a healthy breakout very soon.
Solana, which considered itself the Ethereum killer, has recorded a steep increase in the number of new wallets in its network. This has been a significant move as huge liquidity appears to have flown into the project, which may positively impact the price to a large extent. According to the data from the on-chain platform, Intotheblock, the number of new addresses created has surged beyond 300,000 at the moment.
The SOL price is stuck around $20 for quite some time, forecasting a huge drop in volatility. Despite a rise in the new address count, the price has been maintaining a stagnant trend. Therefore, it can be assumed that the price is accumulating strength to trigger a fine upswing in the coming days that may lift the price beyond crucial resistance at $25.
Litecoin or the lighter version of Bitcoin, is displaying immense strength as the trend is approaching a crucial break point. With less than 80 days before the next halving, market sentiments with regard to crypto have turned extremely bullish. Therefore, with the successful accomplishment of the halving event, the price is believed to trigger a significant bull run.
The LTC price printed 4 consecutive bullish candles and surged beyond one of the important resistance levels at $90. Meanwhile, the bears are trying to restrict the upswing, but after a minor consolidation, the price is believed to rise finely towards the next target at $100 very soon.
Fantom price has witnessed a 7% rise in the price in the last three days as the holders continue to hold their assets, tightly. Over the past 30 days, Fantom’s active deposits have been depleting on the exchanges. The levels have dropped by 70% from 113 to 33 on a daily basis. Most of the supply has been held by short-term holders, who have now moved on to midterm holders.
The FTM price, after rebounding from $0.35, has been maintaining a steep upswing, aiming to reach $0.4 initially. If the bulls are able to hold the price at these levels, then a significant jump beyond $0.43 and later to $0.45 would be imminent.