Following the turbulent entry of spot Bitcoin ETFs into the market, Bitcoin’s price plummeted from $49,000 to $41,500, causing chaos. Despite the downturn, altcoins appeared to navigate the turmoil with resilience, raising questions about which could lead in a potential rally.
Crypto analysts suggest that certain altcoins have already strengthened their positions for the next surge. While the market retracted, altcoins held strong, indicating readiness for an upcoming rise.
Cosmos (ATOM) is one such altcoin that has maintained upward momentum despite Bitcoin’s fall. Analyst Michael van de Poppe highlighted the importance of ATOM staying above the $8-9 level, suggesting a potential rise above its previous all-time high towards $25, provided it maintains this critical support.
Meanwhile, Binance’s native token BNB (BNB) has shown signs of an upturn. A five-wave downward pattern followed by a bullish divergence has set the stage for a potential 40% trading opportunity, with recent analysis pointing to a possible formation around $350.
Chainlink (LINK) has also exhibited strong performance, overcoming resistance and establishing a solid support level. With significant buying activity in the $14.8 to $15.2 region and no major resistance ahead, LINK seems poised to potentially reach the $20 mark.