Analyst notices bullish altcoins breach of the 61.8% Fibonacci retracement level.
The crypto market prepares for the arrival of an explosive altseason.
Ripple’s XRP could be one of the most bullish altcoins this cycle.
Bitcoin price continues in a slow sideways movement with analysts awaiting a sudden pump in the BTC price that could hit new ATHs in the coming months. These targets remain at $110,000, $125,000, and $135,000 before much higher ATHs can come into play. While Bitcoin holds strong and aims to recover, altcoins make a surge.
Alcoins Breach Crucial Bullish Level
https://twitter.com/Washigorira/status/1867210500783612023
According to many analysts, altseason has already arrived. Presently, altcoins are making waves as the crypto market gains momentum, with the 61.8% Fibonacci retracement level decisively breached. Analysts believe this signals a bullish phase for altcoins, with many assets poised for explosive growth.
XRP Prepares for Critical Moves
https://twitter.com/egragcrypto/status/1867484837705388541
To highlight, one of the most bullish altcoins this season is XRP. Presently, analysts view this asset as a standout performer, showing strong potential on the 1-hour timeframe. As we can see from the post above, one analyst goes on to break down the two possible next steps for the altcoin.
The first he says is a scenario where XRP could trade within a range of $2.27 to $2.50 before breaking out to the upside. Specifically, this scenario suggests a continuation of the bullish trend, bringing significant gains to traders.
Alternatively, XRP might dip to $2.27 and consolidate between $2.17 and $2.27. This would form a double-bottom pattern, a bullish formation that often signals the start of a new upward rally. The analyst concludes saying patience is crucial in the moving months while XRP price stands at $2.33.
The post Altcoins Breach Crucial 61.8% Fibonacci Retracement Level as Analysts Prepare for Explosive Altseason to Begin appeared first on Crypto News Land.
