While Bitcoin’s price hovers around $52,000, showing signs of potential upward movement, alternative cryptocurrencies (altcoins) like SOL, FIL, and BNB are experiencing notable trading volumes. This surge suggests an uptick in investor interest, potentially leading to increased price volatility for these assets. Market participants are now closely watching specific price targets for these altcoins.
Solana’s Bullish Breakout
Solana‘s price has recently breached the key level in an inverse head and shoulders chart pattern, hinting at the possibility of continued price growth. Maintaining a price above $107 is crucial for Solana to extend its upward trajectory. Analysts are eyeing the $126 mark as the next target, beyond which Solana could aim for even higher resistance levels such as $135. While the Relative Strength Index (RSI) indicates positive momentum, a downward reversal in Bitcoin’s price could pull Solana down to its strong support at $80.
Filecoin’s Volume Surge
Filecoin has distinguished itself with a daily trading volume of $644 million, outpacing many other altcoins. With a 37% increase over the past week and a 20% rise in just 24 hours, FIL Coin’s bullish trend could continue if it holds above the $7 threshold. The coin could potentially revisit its early January peak of $9.17 or even challenge the $11.35 high from August 2022.
BNB Sets Sights on New Peaks
BNB, the cryptocurrency backed by the Binance exchange, is used to robust trading volumes and has surged nearly 80% since October. In contrast to Bitcoin’s current stagnation, BNB aims to surpass recent highs and is targeting levels above $321. Should it break through the $370 weekly chart resistance, BNB could be propelled toward the early 2022 high of $460.