The altcoin market is showing strength despite Bitcoin’s recent downturn, and one crypto strategist believes that these altcoins may lead the next digital asset rally. Credible Crypto, a popular analyst with a large following on X, points out that payment tokens like Litecoin (LTC) and XRP are holding key support levels above recent lows, indicating potential for a strong market performance.
According to Credible Crypto, select altcoins are holding their own against prior lows while Bitcoin has dipped below its relative range lows. This resilience in the face of Bitcoin’s price collapse suggests that these altcoins, particularly LTC and XRP, could be poised to lead the next rally in the digital asset market.
At the time of writing, LTC is trading at $127, slightly up in the last 24 hours, while XRP is trading at $2.15, down 1.6% on the day. Despite these minor fluctuations, Credible Crypto remains bullish on these tokens as potential market leaders in the near future.
The analyst also predicts that Bitcoin may trade sideways in the coming days before a breakout. With key levels at $94,000-$99,000 as local supply and high timeframe demand just under $74,000, Credible Crypto anticipates a consolidation phase between these levels before a significant reversal in Bitcoin’s price action.
Bitcoin is currently trading at $85,070, showing slight gains in the last 24 hours. As the market continues to evolve, keeping an eye on these key support and resistance levels could provide valuable insights for traders and investors looking to capitalize on potential opportunities in the digital asset space.
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Image Source: Credible Crypto/X
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