Last Monday, the cryptocurrency market experienced a significant crash, resulting in the loss of over $2 billion in investments. This sudden drop led to a sharp decline in many altcoins from their recent highs, prompting major investors to swoop in and buy them up. This increased buying activity could potentially spark a strong recovery rally in the altcoin market. In particular, Berachain, BNB, and Pepe prices are expected to lead the altcoin rally in the upcoming week.
Bitcoin, the dominant player in the crypto market, has been struggling to maintain its position below the $100K mark. Its market dominance recently peaked at 64.3% before slightly dropping to 61.6%. With Bitcoin’s price showing relative stability despite economic uncertainties, investors are now turning their attention to the potential rebound of altcoins in the near future.
Berachain (BERA) Price Analysis
The price of Berachain has seen a significant decline from its all-time high of $15, mainly due to increased selling pressure at peak levels. Currently trading at $6.19, the BERA price is facing strong downward pressure below the EMA20 trend line, marking a decline of over 21% in the last 24 hours. Despite this drop, there are signs of accumulation, hinting at a potential rebound in the coming week. If BERA manages to establish support and break above $6.6, it could pave the way for a price surge towards $10. However, failure to attract buyers at key levels could lead to further declines below $5.
Binance Coin (BNB) Price Analysis
Following the recent market crash, Binance Coin (BNB) has staged a strong comeback by surpassing the $600 mark. Currently priced at $613, BNB has recorded a 5% increase in the last 24 hours. The RSI level suggests a high buying demand, indicating a possible climb towards $620 and beyond. If BNB manages to break above $620, it could target the $640-$660 range. Conversely, a failure to exceed $620 might lead to a retest of the $590-$600 support zone.
Pepe Price Analysis
Despite the overall bullish trend in the crypto market, Pepe price has struggled to gain significant momentum. However, Pepe has built a solid support level and is aiming to break above $0.00001. Currently priced at $0.00009569, Pepe has surged over 2.6% in the last 24 hours. The PEPE/USDT trading pair remains below $0.00001, indicating strong selling pressure from bears. However, buyers could break through the resistance and push the price above the descending trend line, potentially reaching $0.000015 in the upcoming week. If the price remains below the EMA20 trend line, sellers might target $0.000008. With the RSI hovering around 45, a retest of the $0.00001 level could be on the horizon.
In conclusion, the recent market crash has presented a buying opportunity for major investors in the altcoin market. With Bitcoin’s struggle below $100K potentially paving the way for an altcoin rally, Berachain, BNB, and Pepe prices are poised to lead the charge in the coming week. Investors should closely monitor these altcoins for potential price movements and opportunities for profit.