Which Cryptocurrencies Should we Expect Strong Growth this Week?
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Which cryptocurrencies should we expect strong growth this week?
Bitcoin has risen in price by 14% over the past seven days. Everything indicates a continuation of the trend. However, there are altcoins on which you can earn much more.
Bitcoin and some altcoins showed significant growth last week. Over the past seven days, BTC has risen in price by 14%, to $ 26.7 thousand. Yesterday, on December 27, its price rose to $ 28.2 thousand, reaching a new all-time high. During the same period, Litecoin and Ethereum added 14% and 13% in value, respectively.
There are coins left on the cryptocurrency market that may show strong growth this week. In our article, we will tell you about the most promising digital assets and what results to expect from BTC soon.
Since the beginning of autumn, Bitcoin has risen in price by 180%. The uptrend may continue. The immediate target for BTC is the $ 28.6 thousand mark. If it is taken, the growth will likely continue to $ 30 thousand. But near this level, investors may start selling coins en masse, which will lead to a decrease in the price.
The current position of bitcoin is very precarious, the price shows strong volatility. Besides, BTC is now overbought, which speaks in favor of correction. Therefore, there is a risk of a decline to $ 25.4 thousand. If quotes fall below this level, the fall may continue to $ 24.3 thousand, in case of unfavorable development of events – to $ 20 thousand.
Litecoin’s potential is significantly higher than that of Bitcoin. The altcoin is now worth $ 130, but in the coming week, there is a chance of growth to $ 180. To do this, the price of the coin will have to overcome two resistance levels – $ 136 and $ 145.
The scenario with a fall is also possible, however, now the bulls are in control of the situation. If the above resistance levels hold, the LTC rate may reverse and fall to $ 118. It must remain above this mark, otherwise, a deep correction may begin.
Bitcoin Cash also has a chance of strong growth, according to BitXmi analysts. The price of the BTC fork recently broke through the $ 353 resistance level and rose to the current value of $ 356. Also, when the coin was worth about $ 280, the bulls were actively buying the asset. Based on this, experts admit the growth of the BCH rate to $ 500.
Analysts call the nearest targets and at the same time resistance levels the levels of $ 370, $ 409, and $ 430. They can prevent the coin’s price from continuing to rise. If this happens, a correction is possible, but it is unlikely to be deep.
Monero is currently priced at $ 164. Soon, its price may approach the psychological resistance level of $ 200, experts admit. But to do this, it needs to overcome the resistance that formed at around $ 170. If it interferes with growth, there is a risk of falling to the support level of $ 135.
Earlier, the analyst of the Amsterdam Stock Exchange Michael van de Poppe in his Twitter account predicted a rise in the price of bitcoin to $ 40 thousand. He suggested that soon altcoins may show strong growth. For example, in the case of Ethereum, there is a prospect of growth to $ 1.4 thousand, the expert is sure.
#Bitcoin breaking upwards even more as it's approaching my second Fibonacci point of interest around $25,800.
The higher we go, the higher the next impulse move will bring us.
— Michaël van de Poppe (@CryptoMichNL) December 26, 2020
In general, #Ethereum still has a very bullish outlook as it's been making higher highs and higher lows consistently.
This didn't change.
— Michaël van de Poppe (@CryptoMichNL) December 27, 2020
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