BTC has breached the price of $23,000 and has now retreated to $22,700. BTC has reached the market cap of $400 billion.
Once the rally of BTC cools down, the profits made by this rally in BTC are expected to move into altcoins. A good time to enter into altcoins would be after the dominance of BTC starts reducing.
Today, we will review the price predictions for some altcoins like Blockstack (STX), Cardano (ADA), and Chainlink (LINK).
STX is showing bullish signs after breaking out of consolidation around $0.2435. If it manages to stay above the 0.618 fib at $0.2950, we can see a move towards $0.3216, $0.3554, and $0.4531. Failure to hold the support of $0.2950 could lead to a drop in STX price towards $0.2764, $0.2577, and the final support at $0.2435.
ADA broke out of the resistance at $0.1528, came back to test it, consolidated, and is now looking good for a break above after bouncing from the 0.236 fib at $0.1528. If ADA manages to stay above $0.1641, we could see a move towards $0.1747, $0.1852, $0.2003, and $0.2195. Failure to hold above $0.1641 could lead to a drop in ADA price towards $0.1510 and possible wicks towards $0.1300. A drop towards $0.1300 could be a good leverage entry position for longing ADA.
LINK got rejected from the resistance zone at $14.99. It has a good support at $13.71, which would be a good entry point for LINK with targets of $14.99, $16.04, and $16.96. Failure to hold the support of $13.71 could lead to a drop in LINK price towards $12.77 and $12.02.
Images courtesy of TradingView.
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