Price Analysis

Bitcoin(BTC) Price Piercing Apart, What’s Next, Which Altcoin Is In The Row?

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Highlights

    Bitcoin price is on the verge of a massive breakout in order to hit the highest ever levels yet again

    Once the most dominant asset gets exhausted, it would be interesting to witness the flow of the liquidity to the next upcoming altcoin

The crypto space is becoming pretty bullish every new day as the major crypto assets are experiencing a notable rally. Bitcoin, closing above $60K for the first time since the massive sell-offs in May clearly indicate the reinstated of the bull run. However, the rally is pretty much distinct from the previous one. As the asset prefers to adopt a stop, look and move forward strategy. And hence assets like Solana price may also follow the trend shortly.

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Solana gained immense user attention in recent days after a magnificent surge above $200 from around $30. Woefully, the price dropped down drastically, yet managed to sustain above $100 despite extreme sell-offs. However, the price regained the bullish momentum and regained the price zone above $150. And hence, the upcoming price rally is expected to uplift the price above $200 once again without notable drawback. 

Also Read: Cardano(ADA) Price May Go 10X, Traders This Could Be Just A Start Of A Monster Rally

solanaprice
Source: Tradingview

The asset experienced a notable dump after hitting the ATH around $216, yet managed to keep up the uptrend. However, swinging within the symmetrical triangle, the asset approached the peak well before. And currently, attempting very hard to break the upper barrier of the triangle. The successful breach from the pattern could ignite the bull rally. This may in turn hit the ATH again and rally to new highs. 

The strong resistance of Solana price is around $170 and therefore, the asset needs to break this prize zone in order to head towards its ATH. In the worst case if the price fails to break and undergoes a correction or dump, yet the support levels at $151 may hold strong. However, may believe the asset is currently at a brink of a massive breakout that may lead the SOL price in a discovery phase. 

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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