$MATIC , $SUI , $RENDER and TAO could soar if Bitcoin holds $64K - Cointelegraph
📈 Altcoins Could Rise If BTC Stays Above $64K
Bitcoin has gained over 9% this week, indicating strong bullish sentiment. The price is aiming for the $55,724 to $73,777 resistance range. Data from SoSo Value shows $252 million inflows into US Bitcoin ETFs on Aug. 23, driven by news of potential Fed rate cuts. As BTC holds its gains, select altcoins like MATIC, SUI, RENDER, and TAO could surge higher.
📊 Bitcoin Price Analysis
Bitcoin jumped above the 50-day SMA at $61,759 on Aug. 23, reducing bearish pressure. If bulls push BTC past the $65,660 resistance, it could rally to $70,000. However, a break below the 20-EMA or 50-SMA could trigger a drop to $57,787 or lower.
🔼 Polygon Price Analysis
Polygon (MATIC) rebounded above $0.49, indicating strong support. With moving averages nearing a bullish crossover, MATIC could rise to $0.75. However, a drop below the moving averages might send it back to $0.39. A strong bounce off the 20-EMA could push it to $0.58 and higher.
💥 Sui Price Analysis
Sui (SUI) bounced off the 20-day EMA at $0.87, signaling buying interest. If bulls push past the $1.11 resistance, SUI could rally to $1.44. Conversely, a break below the moving averages could send it down to $0.71.
🚀 Render Price Analysis
Render (RENDER) rallied above its moving averages, suggesting a bullish trend. If the price stays above the 20-day EMA, it could continue to $7.26 and $8. A slide below the 20-day EMA might lead to a drop to $4.38.
📉 Bittensor Price Analysis
Bittensor (TAO) pulled back from resistance at $361 but found support near its moving averages. If bulls break past $361, TAO could climb to $500. A failure to break $361 could result in a drop to the $243-$255 zone.
