Bitcoin price hits new yearly highs at $31,000 for the first time in the past nine months. The gigantic recovery that kicked off in early 2023 is approaching crucial levels. Meanwhile, some of the altcoins, like ARB, SOL, and ATOM, are showing sharp bullish momentum.
Top analyst Altcoin Sherpa frames the next move for popular altcoins and believes that these tokens are on the verge of a massive explosion. The analyst says that the ATOM price has already reached the high timeframes and may continue to move. Therefore, he thinks the price might continue to consolidate as there is not much volatility at the moment.
“Atom: high timeframes I think looks pretty good, EMAs are all reset to 1D and prices continue to crash. That said, I see no reason to buy this one for active traders. Not much volatility or strength compared to the rest of the market rn”,
Speaking further about Solana, the analyst believes that the price has reached crucial levels and thus might face an intermediate pullback. However, the drop should attract more liquidity which could trigger a nice recovery afterwards.
“ GROUND: Interesting level here; not a buyer. Horizontal resistance zone S/R + 200d EMA, I expect a short pullback towards the cluster EMA around $22. This is a buy down situation if IMO”
Turning to Arbiturm, Altcoin Sherpa sees huge possibilities to break above $2 in the next few days. The ARB price has shown enough strength despite a noticeable pullback recently. Therefore, to experience a meaningful breakout, the altcoin must breach the upper barriers and set up a bullish trajectory towards its target.
“ARB: Bought at $1.25, sold at $1.38 or something should have held. I still think there is more juice left in the tank for that.
Using these fib extensions, send $2 and up”,