- Analyst notices bullish altcoins breach of the 61.8% Fibonacci retracement level.
- The crypto market prepares for the arrival of an explosive altseason.
- Ripple’s XRP could be one of the most bullish altcoins this cycle.
Bitcoin price continues in a slow sideways movement with analysts awaiting a sudden pump in the BTC price that could hit new ATHs in the coming months. These targets remain at $110,000, $125,000, and $135,000 before much higher ATHs can come into play. While Bitcoin holds strong and aims to recover, altcoins make a surge.
Alcoins Breach Crucial Bullish Level
According to many analysts, altseason has already arrived. Presently, altcoins are making waves as the crypto market gains momentum, with the 61.8% Fibonacci retracement level decisively breached. Analysts believe this signals a bullish phase for altcoins, with many assets poised for explosive growth.
XRP Prepares for Critical Moves
To highlight, one of the most bullish altcoins this season is XRP. Presently, analysts view this asset as a standout performer, showing strong potential on the 1-hour timeframe. As we can see from the post above, one analyst goes on to break down the two possible next steps for the altcoin.
The first he says is a scenario where XRP could trade within a range of $2.27 to $2.50 before breaking out to the upside. Specifically, this scenario suggests a continuation of the bullish trend, bringing significant gains to traders.
Alternatively, XRP might dip to $2.27 and consolidate between $2.17 and $2.27. This would form a double-bottom pattern, a bullish formation that often signals the start of a new upward rally. The analyst concludes saying patience is crucial in the moving months while XRP price stands at $2.33.
