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COINTURK NEWS > Technical Analysis > Bitcoin Boosts Altcoin Prices
Technical Analysis

Bitcoin Boosts Altcoin Prices

In Brief

  • Bitcoin price is above $66,250, boosting altcoins.

  • SOL Coin targets $174 after surpassing $159 resistance.

  • LINK Coin continues with a 5% increase, aiming for $15.1 and $16.

COINTURK NEWS
COINTURK NEWS 1 year ago
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Bitcoin (BTC) price is above $66,250, and altcoins continue with gains exceeding 5%. SOL Coin experienced an increase of over 10%, and the anticipated movement began with the BTC rise. So, what are the current price predictions for SOL, AVAX, and LINK Coin? What awaits investors?

Contents
Solana (SOL)Avalanche (AVAX)LINK Coin Price Prediction

Solana (SOL)

SOL Coin price continues the day with a 13% increase at $164. A key threshold was crossed, leaving only one obstacle for altcoins. The SEC will decide in a few days and will likely reject Ethereum ETF applications. However, labeling it as a security in the rejection statement and trying to classify other altcoins similarly will be a hurdle to overcome.

Returning to SOL Coin, with the resistance at $159 surpassed, the SOL Coin price is targeting $174. If this region can be reclaimed, $188 and $205 can be targeted. With the last resistance surpassed, the ATH at $256 can be moved higher.

Avalanche (AVAX)

At the $31.34 support, the AVAX price avoided a major collapse. The price region that could trigger significant liquidations was preserved, and a reaction rise came with the BTC increase. With closures above $34, the AVAX Coin price can reclaim the $38 and $40 thresholds. For it to re-enter an upward trajectory, $40 must turn into support.

The next target will be the level where the rally accelerated at $48 and $50.

LINK Coin Price Prediction

The strongest player in the RWA category, LINK Coin faced tough times as BTC experienced rapid losses during the rally. These losses were particularly frustrating for bulls as recovery took time. Now, continuing with a 5% increase, LINK Coin surpassed $13.8.

The price did not break below the parallel channel support ($12), limiting losses. LINK Coin only briefly touched this level and tested $12.84 three times but maintained it as higher support. Now, the target is new attempts at $15.1 and $16 with closures above $14.3.

You can follow our news on Telegram, Facebook, Twitter & 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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COINTURK NEWS 16 May, 2024 - 4:05 pm 16 May, 2024 - 4:05 pm
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