As Bitcoin’s value remains steady at around $100,000, several alternative cryptocurrencies (altcoins) are on the verge of experiencing significant growth. Binance Coin ($BNB), Near Protocol ($NEAR), and Fantom ($FTM) are at a crucial juncture. Will they continue to rise? Total3, a chart that tracks the combined market cap of all cryptocurrencies except Bitcoin and Ethereum, provides insight into the progress of altcoins.
The bull flag has broken above the upward trend, and the descending trendline has been broken, indicating a positive trend. If Total3 can surpass its all-time high of $1.13 trillion, it would signal that the final and most dramatic stage of the bull market is upon us. $BNB is near a breakout from a four-year trading range.
After experiencing a decline following the end of the 2021 bull market, the price has begun climbing higher and is now nearing the top of the range at around $660. The targets for the rest of the bull market are based on Fibonacci extension levels, as seen on the chart. $NEAR is nearly breaking out and could see a significant rise soon.
A descending trendline, which has been in place since the start of 2022, is currently acting as resistance. However, with the price holding above the 0.236 Fibonacci level, a breakout may not be far away. If a breakout occurs, the first target will be to exceed the next Fibonacci level at $8.53, and more importantly, push the price above the swing high at $9.11 to officially break the downtrend.
$FTM is currently breaking out, with three days left before the Sunday candle completes. If $FTM can maintain its position above the descending trendline and if Bitcoin avoids a significant drop, the $FTM bulls will aim to surpass the all-time high at $3.45, with the 1.618 Fibonacci level at $5.48 as the next target.
This article is provided for informational purposes only and should not be considered legal, tax, investment, financial, or other advice.
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<p>The post Bitcoin Stalls, Altcoins Surge: Binance, Near, and Fantom Eye Breakouts first appeared on CoinBuzzFeed.</p>
