Price Analysis

Top Undervalued Altcoins Gearing up as Bitcoin Price Continues with a Sideway Trend!

Author: Sahana Vibhute

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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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Highlights
  • Bitcoin price has been trading within a very narrow region for quite a long time, which may have compelled the traders to look out for other options

  • Some altcoins are displaying significant possibilities of breaking above the consolidation as they appear to be at the pinnacle of a squeezed trend

Bitcoin price continues to trade within a pre-determined range that it began to trade a month ago. The constant failure to surpass & sustain above $20,000 has discouraged the market participants, who may soon switch to other altcoins within the crypto space. 

Ripple(XRP)

Ripple price is witnessing significant growth since the beginning of the month and the recent push uplifted the price beyond $0.5. As the selling pressure remains slightly far-off, it appears that the bulls could have entered the platform. On the other hand, as the market sentiments continue to remain shaky, the bulls fear uplifting the price beyond the upper resistance. Therefore, until the market conditions settle, the XRP price may trade between $0.57 to $0.6.

BinanceCoin(BNB)

BinanceCoin price ever since dropped below $300 has been trying very hard to regain the bullish momentum, but failing to do so. The recent rejection has dragged the price close to the lower support where-in the bulls are trying very hard to defend. Therefore, it is pretty clear that the bears may not drag the price towards new lows as the bulls continue to stand along the lower crucial levels.

Solana (SOL)

Solana is among the altcoins that have witnessed a drastic fall since the beginning of 2022 as it dropped heavily from levels above $200 to below $30. The price is attempting very hard to keep up the bullish momentum, but due to the bearish action being extended every day, the price remains restricted below $35. However, a continuation of a sideways trend is expected for some more time before a breakout that may be expected at the end of October. 

TerraClassic(LUNC)

TerraClasic is slowly gaining the base that was much required to rise within an ascending trend. To prevent steep plunges or pullbacks, the bulls are rising high slowly yet steadily. Therefore, the initial target remains around $0.000035, after which a notable upswing may make its way out to regain the highs.

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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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