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COINTURK NEWS > Altcoin News > Altcoins Rally as Bitcoin Targets $63,000
Altcoin News

Altcoins Rally as Bitcoin Targets $63,000

In Brief

  • Altcoins are reacting positively as Bitcoin targets higher prices.

  • Analysts share insights on potential price movements for SHIB and SEI Coin.

  • Bitcoin's strength is crucial for the future performance of altcoins.

İlayda Peker
İlayda Peker 2 years ago
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Some altcoins have turned upwards as Bitcoin aims to retarget $63,000. SHIB gained nearly 10% daily but experienced a slight pullback afterward. This article shares the latest chart insights for SHIB and SEI Coin, focusing on different experts’ recent predictions for both Bitcoin and altcoins.

Contents
SHIB and SEI InsightsWhat Will Happen to Bitcoin?

SHIB and SEI Insights

Earlier today, we discussed how Shiba Coin’s price could be rapidly triggered by a potential Bitcoin surge. This has indeed happened, with the price finding buyers at $0.00001839 after a 10% daily increase. Considering Shiba Coin’s recent 20% rallies and subsequent corrections due to Bitcoin’s fluctuations, investors are evaluating the chances of a rebound.

An analyst under the pseudonym Yoddha signaled a breakout for Shiba Coin, predicting a new movement towards $0.00003 in the coming days. The analyst shared a chart indicating a mid-term target of $0.00007.

Crypto Tony is focusing on SEI Coin. Assets like SUI and SEI have remained under Solana $74’s shadow in the recent bullish period, yet many expect a good start for them this season. Notably, the on-chain activity for SUI Coin has drawn attention.

For SEI Coin, Tony shared a chart stating, “For my bullish sentiment to remain strong, $0.4 must hold in the daily close.”

What Will Happen to Bitcoin?

Of course, Bitcoin’s rise will determine the prices of altcoins. If Bitcoin does not maintain strength and seeks new lows, we won’t see a favorable scenario for altcoins. The Titan of Crypto wrote that the bullish momentum for the leading cryptocurrency continues without disruption. Assuming the $60,900 level is sustained, the analyst will consider the latest correction as a reasonable pullback.

Lastly, BACH has noted today’s surge. He mentions that closing above the EMA (21-50) cloud on the four-hour chart will support upward momentum. The analyst expresses optimism for the upcoming weeks, stating all data indicates significant rises in altcoins in the last quarter.

As of this writing, Bitcoin (BTC) $64,095 stands at $62,679, with daily volume remaining weak.

You can follow our news on X, Telegram, Facebook & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 6 October, 2024 - 9:40 pm 6 October, 2024 - 9:40 pm
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İlayda Peker
By İlayda Peker
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The author, who holds a degree in International Relations and Political Science, has 10 years of experience as a writer and editor in the fields of cryptocurrency, blockchain technologies, and digital asset markets.While at COINTURK, he has published over 8,500 news articles, analyses, essays, and reports on Bitcoin, altcoins, cryptocurrency markets, the blockchain ecosystem, digital asset regulations, and global financial developments. Closely following market movements and industry developments, the author addresses the complex world of cryptocurrency in a clear and reader-friendly manner.An avid reader, the author also evaluates the impact of international developments on financial markets and the digital asset ecosystem.
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