Despite the fluctuations in Bitcoin’s price, some altcoins have experienced significant rallies, reaching peak levels. This trend was expected with the rise in Bitcoin’s price, and it does not come as a surprise. As long as the BTC price stays above $37,000, news related to partnerships and project developments are likely to continue.
The latest altcoin to reach its highest level of the year is ROSE Coin. While many cryptocurrencies are not close to their All-Time High (ATH) yearly levels, ROSE has been on a steady increase since September. After observing a higher low in October, the rally gained momentum alongside Bitcoin’s rise, and ROSE became part of the list of altcoins with positive divergence.
ROSE Coin has risen in 6 out of the last 7 weeks, showing an increase of over 130% since the lowest level in September and reaching $0.088. This popular altcoin surpassed its yearly peak by achieving the highest price in the last 470 days.
Like BTC, this cryptocurrency is approaching pre-interest rate hike levels, and if the rally continues, it could enter the top 50 cryptocurrencies. There is a clear reversal on the monthly chart, and the path to the ATH is quite long. If the increase in Bitcoin’s price and the demand for ROSE Coin continues, the popular cryptocurrency can reach higher levels. However, it must first surpass the $0.09 threshold.
Closures above $0.09 could pave the way to peaks of $0.096 and $0.115. This altcoin, which spent a long time in the same region in June 2021, subsequently experienced an increase of about tenfold. In the most optimistic scenario, after overcoming resistances at $0.19 and $0.29, a historical resistance of $0.4 could be targeted. While this price scenario may seem far-fetched during bull seasons, it is possible with consistently increasing demand.
