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COINTURK NEWS > Technical Analysis > Bitcoin Price Stabilizes While Altcoins Prepare for Potential Gains
Technical Analysis

Bitcoin Price Stabilizes While Altcoins Prepare for Potential Gains

In Brief

  • Bitcoin stabilizes, leading to possible increases in altcoin prices.

  • Experts highlight SOL and ETH's performance in current market conditions.

  • Polygon shows signs of revival with increased market interest.

Fatih Uçar
Fatih Uçar 6 months ago
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The price of Bitcoin (BTC) $107,631 remains above 92,000 dollars, yet fluctuations of around 2,000 dollars limit the rise of altcoins. As the leading cryptocurrency consolidates towards a six-figure price, an anticipated increase for altcoins could begin. Experts have shared their evaluations for POL, ETH, and SOL Coins in the past few hours, with particular emphasis on the situation concerning the BTC pair.

Contents
Comments on SOL and ETHPolygon (POL) Coin

Comments on SOL and ETH

In today’s analysis, Miles Deutscher highlighted the bullish flag breakout in the SOLBTC chart. SOL Coin is hovering around the 240 dollar mark, and its ability to gain against BTC is crucial for reaching new record levels. Furthermore, meme coins within the Solana $172 ecosystem, such as BONK Coin, may also benefit from this trend.

“The SOL/BTC bullish flag breakout is ongoing.

Additionally, the excitement in the weekly chart’s money noodle is promising.”

According to the chart, we may see new peaks in the SOLBTC pair above 0.004 BTC. This could open the door to much larger gains in USD pairs if BTC continues to rise.

Michael Poppe wrote the following regarding ETH:

“ETH has failed to turn the 0.036 BTC region and continues to decline.

We expect to find some support. If this downtrend persists, we might see 0.03 BTC in December before a potential rebound.”

The ETHBTC pair, which had maintained its trend support for years, recently lost this level. As SOL, DOGE, BNB, and many other cryptocurrencies race toward all-time highs, Ether’s performance has been quite lackluster. For a significant surge among altcoins, the ETH price must recover.

Polygon (POL) Coin

As one of the largest altcoins, Polygon (POL) has remained in the shadows throughout 2024, demonstrating average performance among cryptocurrencies. Although ambitious statements at the beginning of 2023 and independent reports confirming it is not a security supported price increases, excitement has since waned.

In today’s assessment, Ali Charts noted that the network is beginning to show signs of revival.

“Polygon is experiencing a significant increase in on-chain metrics, including daily active addresses, transaction volume, and whale activity.

All these indicate rising interest and market participation, typically signaling a bullish outlook for $POL.”

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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Fatih Uçar 19 November, 2024 - 7:21 pm 19 November, 2024 - 7:21 pm
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