As Bitcoin hovers within a narrow range, altcoins have slowly begun to manifest some diverse price action.
Tokens like Arbitrum, Fantom, Optimism display acute strength while Polygon, Solana display a loss in strength
The crypto space appears to be in the midst of a significant upswing as the bulls appear to have relaxed a bit after pushing the prices higher. Meanwhile, the total crypto market cap is approaching the crucial $1.28 trillion level with a slight drop in BTC dominance. This could keep the altcoins in the mainstream, but some of them require more attention.
- ARB price, in the past few days, is following the lower trend line which is acting as a strong base in case of a bearish action
- The price hits the upper band of the Bollinger bands, drops below the average levels and rebounds to test the upper band again
- After the recent rejection, the price is approaching the average levels of the band, after which a giant upswing is imminent
- The Fantom price with the recent price jump, sliced through the bearish trade setup and jumped high
- The price is currently testing one of the major resistance levels, clearing which may trigger a significant upswing toward the first target at $0.57
- However, bearish interference appears to be slightly high at these levels but as the ADX is bullish, the price may continue rising high to reach the interim target at $0.64
- Optimism price appears to be extremely bullish as the price is heading high to breach the upper resistance
- While the ADX has just shown a bullish divergence, the possibility of breaching beyond the symmetric triangle appears
- However, a minor pullback within the triangle may also be imminent and compel the price to reach the apex and trigger a bullish breakout
Besides, popular altcoins like BinanceCoin, Polygon, Solana, Dogecoin, etc, and many more appear to be waiting for the next Bitcoin price action. Therefore, if the BTC price triggers the next bullish move, these altcoins tend to follow. However, the above-mentioned altcoins, Arbitrum, Optimism, and Fantom may come out as the biggest hold for the next bull run.