Bitcoin price went on a bearish trend last week, dropping from the peak of $96,000 toward a monthly low of $88K. Analysts believe that Bitcoin’s recent bearish pullback might be a trigger for an altcoin rally in the coming week. As traders rotate their money into newer altcoins, Solana Mobile Seeker (SKR), Pump.fun, and Official Trump are expected to show bullish momentum this week.
Bitcoin has been facing significant bearish volatility over the last seven days. BTC price dropped from the peak of $96K toward $88K, flashing a 7% drop last week. Coinglass data reveals that Bitcoin continues to face increased liquidation as it triggered over $25 million in total liquidations in 24 hours. Of this, buyers closed nearly $24.5 million worth of positions.
Also read: Bitcoin Price Prediction: What Needs to Happen for BTC to Push Toward $100K
Analysts say that while Bitcoin’s drop may not have a major impact on an altcoin rally, it could give a small lift to newer altcoins this week. As a result, the SKR token, PUMP, and TRUMP coins are expected to show a bullish pattern.
SKR token fell below its moving averages after recording over 200% gain last week. Though the price achieved a peak above $0.05 following listings on multiple tier-1 exchanges, it faced sharp selloff later. As of writing, Solana Mobile Seeker trades at $0.028, declining over 15% in the last 24 hours.
The slowdown in the surge of moving averages and the RSI hovering near 50 show no clear edge for either buyers or sellers. However, SKR’s drop below EMA20 trend line hints at a bearish control currently. If the price holds below EMA20, sellers could take control, potentially pushing the SKR/USDT pair down to the $0.02 low.
For buyers to regain strength, the price needs to break above $0.035. If that happens, the pair could rise toward $0.05.
Pump.fun is finding support near the $0.0024 level, showing that buyers are stepping in at lower prices. As of writing, PUMP price trades at $0.0026, surging over 5.2% in the last 24 hours.
Any recovery is likely to meet selling pressure around the descending resistance line. If the price drops sharply from that level, it could increase the chances of falling below the $0.00235 support, with the PUMP/USDT pair possibly sliding toward $0.0017.
On the other hand, a move above the resistance line would signal a potential comeback by buyers. In that case, Pump.fun price could rise toward $0.0033, where strong resistance is expected.
TRUMP faced significant drop last week as it touched a low below EMA20 trend line. However, this unlocked strong accumulation around the dip, preparing Official Trump coin for a potential breakout this week. As of writing, TRUMP price trades at $4.88, declining over 0.7% in the last 24 hours.
The price of TRUMP dropped sharply on Monday and closed below the 20-day EMA, suggesting the TRUMP/USDT pair may have reached a short-term peak. If weakness continues, the pair could retrace fully and fall to around $4.4-$4.1.
Buyers face a tough challenge. Any short-term rebound is likely to run into selling pressure near the 20-day EMA. However, buyers are currently accumulating, preparing the TRUMP price to break its consolidation above $5. A close above $5 would be a sign that buyers are regaining control, pushing the price toward $5.7.
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