Bitcoin has climbed back above $100,000 and recently hit a high of $105,000. This sharp rise may have been helped by easing trade tensions and possible deals between the US and China. With Bitcoin now pushing for a new all-time high (ATH) this month, some altcoins are also showing strong potential for big gains. In this article, we’ll look at which altcoins could possibly jump by 10x after Bitcoin hits a new ATH.
The altcoin market gained a strong surge in dominance following Bitcoin’s recent rally above the $100K level. Last week, the Fed announced no rate cut, aligning with market expectations. The Federal Reserve has said it’s open to cutting interest rates since inflation isn’t a big concern right now. With inflation slowing down and the economy staying steady, this more relaxed position from the Fed boosted the market.
Also read: Altcoins Watch: Pi Coin Breaks 2-Month Streak, Moo Deng Soars 540%!
Bitcoin has jumped about 21% over the past 30 days and is now only 5.5% below its all-time high. As Bitcoin approaches its all-time high, it’s setting the stage for several altcoins to potentially surge by 10x this month.
Pi coin has been on a strong bullish rally for over the last few days as it recorded over 112% gain in the last 7 days. Buyers are now facing a bearish decline after getting rejected above $1.667. As of writing, Pi price trades at $1.1, surging over 3% in the last 24 hours.
Bears are actively dominating the price chart, aiming for a rally below $1. However, buyers are defending strongly as the Pi coin price faces accumulation around the recent dip. If buyers can keep the price above EMA20 trend line, the PI/USDT pair might gain momentum and rise to $1.66 again. Sellers will probably try to stop the rally there, but if the bulls break through, the price could climb to $2.
The recent sharp drop has pushed the RSI below the neutral region at level 45, which could mean a short-term pullback or sideways movement. For the upward trend to continue, bulls need to defend the $1 level.
However, a drop below $1 might consolidate the Pi coin price within the initial breakout zone at $0.8-$0.6.
Pepe price has been surging exponentially following Bitcoin’s $100K rally. Pepe saw a strong rally from the 50-day SMA near $0.000012 but it is struggling to surpass $0.000015. Currently, Pepe price trades at $0.0000138, surging over 4.4% in the last 24 hours.
The RSI level is hovering below the neutral region, suggesting that sellers are in control. If the price drops to $0.000013 and finds support there, it would signal strength and could lead to a rally toward $0.0000154 and possibly $0.000017.
On the other hand, if sellers continue to hold the price below EMA20 level, Pepe might aim for a retest of the $0.0000125 zone.
WIF price is facing a bearish correction after failing to break above $1.32. As of writing, WIF trades at $1.18, surging over 33% in the last 24 hours.
As the price bounced off the EMA20 level, it shows strong buying interest and could skyrocket the momentum above $1.4. But a drop below the 20-day EMA) could trap WIF price in a wide range between $0.9 and $0.74.
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