Trader Points to 5 Cryptocurrencies That Could Rise Over 70% and Follow Bitcoin Toward $ 87,000

Trader Points to 5 Cryptocurrencies That Could Rise Over 70% and Follow Bitcoin Toward $ 87,000

After Bitcoin (BTC) renewed its all-time high, reaching the price of USD 67,016.50, the cryptocurrency is “on ground never explored before”, according to the Transfero team of analysts, responsible for the stablecoin, BRZ.

A) Yes, experts point out that there could be a rapid rise to USD 87,100, which would be the first target, according to the Fibonacci projection.

According to the company, through the graph above, you can see the formation of a Bullish Channel, which is a continuation pattern, extending inclined, in this case, upward.

“But it’s good to be on the lookout for possible corrections. Prices are advancing within the channel and a breakout of the trend line (bottom line) could signal a correction, leading the price to seek support at $ 57,200, which it would be a good entry point, “say analysts.

Furthermore, the analysis of digital asset market sentiment points to a high level of greed (84 points). Another prominent factor this week was the global cryptocurrency market capitalization, which also hit a new record, at $ 2.3 trillion.

In the opinion of the Transfero team, The expectation is that this rise could reach new heights when the altcoins start to gain traction with the bullish movement of BTC. For now, they remain out of focus, as the momentum is entirely from Bitcoin and this is corroborated by its greater dominance of the market in recent days.

Trader Points to 5 Cryptocurrencies That Could Rise Over 70% and Follow Bitcoin Toward $ 87,000

Altcoins Could Rise 70%

However, while Transfero analysts point to BTC’s upside potential to $ 87,000, the analyst known in the market as Credible Crypto, said is bullish on five cryptocurrencies that could follow Bitcoin’s momentum on this new price discovery towards new all-time highs.

For the analyst, one of the cryptocurrencies with great upward potential is Convex Finance, whose CVX token powers the decentralized exchange (DEX) Curve Finance. According to him, the whales are accumulating CLC, indicating that they are anticipating a bullish move that should be fueled by news of a major partnership for the DEX.

“Another millionaire purchase of CLC from professionals at a price of USD 21.53 per CLC. Yes, you are still ahead.”

Another cryptocurrency on the expert’s list is XRP. Credible has long been a bullish on Ripple and in its analysis almost always scores the potential of the cryptoasset in terms of valuation.

In this his new analysis said that expect XRP to turn an all-time resistance level into support, paving the way for a big breakout to the upside.

“I can’t understand how good this chart looks. From a technical standpoint, I have a hard time seeing how an analyst can present an objectively bearish case for this chart. When we finish here shortly, XRP is going to melt the faces.” he pointed out.

It is also on the trader’s list Ethereum (ETH), which signals that it is poised to hit new highs, following in the footsteps of Bitcoin’s recent record high.

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HBAR and Solana

Also on the trader’s list is Hedera Hashgraph (HBAR), Credible Crypto say what A new all-time high is in the possibilities if the crypto asset can overcome a remaining hurdle at the $ 0.47 mark.

“HBAR is following the plan wonderfully here. I suspect that it will soon break resistance and we will head towards the highs of the 0.43 range. Light red and new all-time high.

The analyst also believes that wait to Solana (SOL) reaches a new all-time high. In the last seven days, the crypto asset has gone from 162.60 to 204.30 dollars, which represents an increase of almost 26%.

The trader added that the bullish cryptocurrency market will translate into an increase in the price of other altcoins, but warned that BTC may outperform the market in the short term and garner attention, but that there is no doubt that a bullish movement of BTC will propel the altcoins.

“Yes, BTC will initially take center stage, but altcoins will soon follow BTC with their own major rallies.”

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Each investment and commercial movement involves risks, you must do your own research when making a decision.

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