The crypto markets are bracing up for a bullish monthly close to keep up the ‘Uptober’ vibes alive. The Bitcoin price formed fresh monthly highs at $71,587, indicating the price could form a new ATH in a short while from now. As per the industry experts, the next probable highs could be somewhere around $78,000 to $80,000 before the end of the year. In such a case, the below-mentioned altcoins, which are heavily consolidating, are believed to undergo a huge explosion.
Uniswap (UNI)
- Uniswap price is trading within a decisive symmetrical triangle and is heading towards the apex in a short while
- The 50-day MA is offering strong resistance, which needs to be breached to keep up the bullish trend
- Besides, the Bollinger bands have begun to squeeze, which suggests the volatility may squeeze with a significant drop in volume leading to a volume crunch
- However, the weekly RSI remains elevated and hence a breakout from the bands may enable the price to break above the resistance of the triangle and gain a double-digit figure.
Litecoin (LTC)
- The Litecoin price has been displaying enough strength as it remains stuck within a rising parallel channel
- The latest upswing has helped the price rise beyond the 200-day MA and a daily close above $74 may validate the continuation of a bullish trend.
- The RSI remains elevated, holding the lower support, indicating the bulls have held a strong grip over the rally
- Therefore, the LTC price is believed to keep up the bullish trend and reach the interim resistance at $76.25, which may push the levels above $78 to reach $80, which may trigger a fine upswing ahead.
Avalanche (AVAX)
- The Avalanche (AVAX) price rebounded from the lower support and since then has maintained a consolidated ascending trend
- The RSI has also flipped from the bottom while the MACD shows a drop in the selling pressure with a possibility of a bullish crossover
- Therefore, the AVAX price is believed to trigger a 10% rise and enter the crucial resistance zone between $29.16 and $29.68
- After consolidating within a range for a while, that may elevate the levels above $30 in a short while. However, once the price secures above the range, the token may begin to reclaim the lost levels for the rest of 2024
Credit: Source link
