In this video: The charts don't lie. Just days ago, Chief Market Strategist Gareth Soloway alerted investors to a high-probability "Bull Flag" setup across the altcoin market. Since then, we've seen Bitcoin maintain its bias and altcoins begin their next leg higher.
In today’s video, Gareth provides an update on the current rally, revealing his specific upside targets for Bitcoin, Ethereum, XRP, Solana, Cardano, and Chainlink. He shares exactly how he is navigating these moves with his members at Smart Money Crypto. Video by Gareth Soloway.
Buy, sell, and store over 400 digital assets at one of Europe’s leading exchanges. Crypto trading and staking made simple!
Learn more >>
Bitcoin (BTC) has recently broken through a major resistance area, reinforcing a short-term bullish bias while several altcoins like Ethereum (ETH), Solana (SOL), XRP (XRP), and Polkadot (DOT) have seen significant price gains in the last 24 hours, indicating the potential for them to begin their next leg higher.
Key Insights
-Altcoin Momentum: Altcoins are showing strong momentum, with many outperforming Bitcoin on a relative basis in the short term, a trend potentially driven by speculation around new altcoin ETFs (for Solana, XRP, and Litecoin) and recovering risk appetite.
-Bitcoin Dominance vs. Price Action: While some analysis previously suggested a "risk-off" rotation where Bitcoin dominance rose during a price slump, recent price action has shown Bitcoin breaking resistance while altcoins also perform well, indicating broader market strength.
-Market Sentiment: Derivatives leverage is currently modest, not overheated, suggesting there might be room for further upside in the market if positive macroeconomic headlines continue.
Start trading your favorite Cryptocurrencies on Bybit's user-friendly and advanced trading platform. All the tools you need for profitable trading!
Visit Trading Platform >>
