Top Altcoins to Watch Next Week: Strong Performance Chainlink (LINK), Celestia (TIA), and Ripple (XRP)
Now, investors are more optimistic as the overall market capitalization has recovered to surpass $1.7 trillion. This recovery is partly due to expectations surrounding Bitcoin’s upcoming halving event, which could potentially lead to a price increase. Recently, Chainlink and Celestia have dominated the market by experiencing notable price gains, while the value of XRP has fallen due to security breaches. Nonetheless, forecasts for the coming weeks suggest that these cryptocurrencies may perform better, which could result in significant profits for sellers.
Investors can remain focused on Bitcoin
Bitcoin’s recent rebound may encourage investors to remain invested in Bitcoin over altcoins, signaling a bullish comeback as evidenced by Bitcoin’s increasing market dominance. This led to the suppression of major altcoins, limiting their collective dominance to around 12.5%.
Moreover, the altcoin seasonal index experienced a sharp decline after failing to maintain levels near its peak of 84 and is currently trading around 65. As a result, Bitcoin looks set to continue to attract a lot of investment attention next week.
Chainlink (LINK) Price Analysis
Chainlink experienced a positive change in its trading pattern, breaking $17.7. This means that buyers have an advantage over sellers. But sellers are now fiercely defending a surge above $20.
Nevertheless, sellers are not expected to retreat easily and will attempt to drive the price below the breakout level. If successful, it would likely catch several overconfident buyers off guard and lead to a decline towards the 50-day EMA of $16.1.
Conversely, if buyers succeed in holding the price above $19-$20, the breakout is confirmed as legitimate. Buyers are currently defending the breakout point and may target $22 next if $20 resistance weakens.
Celestia (TIA) Price Analysis
The price of TIA strengthened after bulls succeeded in pushing the altcoin above $16. Over the past 24 hours, TIA price has been bullish as strength continued to build, sending the price towards the immediate Fib line. At the time of writing, TIA is trading at $18.1, up more than 2.2% from yesterday’s price.
However, significant selling could occur near $20, sending TIA price plummeting. If the bulls keep the price above that level, TIA price may maintain buying momentum. It is important to note that a decline below the rising support line could move the RSI into oversold territory and intensify selling pressure.
Ripple (XRP) Price Analysis
Sellers pushed the price of
If XRP overcomes the descending resistance line, it could pave the way for a potential bounce towards the 200-day EMA. A further surge causes the price to consolidate around $0.66.
However, a decline below the important $0.47 support level could weaken the strength. This creates renewed selling pressure, causing the price of XRP to plummet to the critical $0.4 level.