BTC has breached $40,000 and is approaching the all-time high price once again. Could this be a double top and we start the correction? Or could BTC continue the rally beyond the all-time high, pulling the altcoin market with it?
We will be able to find out about the movement of the altcoin market soon enough after BTC reaches the all-time high price. If BTC dominance increases after breaking the all-time high, we could see a consolidation and correction in altcoins. If BTC dominance drops and stabilizes near the all-time high price, we could see the beginning of the next alt season.
LTC/USD – Price Prediction
LTC is entering a resistance zone at $164. It will most likely get rejected here and fall down towards the support zone at $149. If $149 breaks, we could start seeing a drop towards $141, $136, and $126. If the resistance at $164 breaks, we could start seeing an impulse towards $174, $187, and $225.
EOS/USD – Price Prediction
EOS is currently trading above the support zone of $3.05. EOS has been lagging in price action and is in a consolidation zone, so a breakout is expected. As long as it is above the support zone at $3.05, we could start seeing a move towards $3.66, which is a key resistance area to break. If this resistance gets broken and if EOS can close a few daily candles above this zone, we could start seeing an impulse move towards $4.02, $4.38, $4.88, $5.53, and $7.39. Failure to hold the support at $3.05 could lead to a move towards $2.88 and $2.50.
BCH/USD – Price Prediction
BCH has been another coin that has been lagging in price action compared to its peers. It is currently trading close to a crucial resistance zone at $495. If this resistance gets broken, we could start seeing a move towards $550, $591, $648, $721, and $933. Failure to break the resistance at $495 could lead to a drop towards the support at $431, $377, and $307.
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