Despite the fluctuations in Bitcoin‘s price, some altcoins hosted large rallies and reached peak levels. Surges triggered by news were not surprising as it was predicted that such a trend would accompany an increase in BTC‘s price. It is likely that news related to partnerships and project development will continue as long as the BTC price remains above $37,000.
ROSE Coin Commentary
The latest altcoin to reach this year’s highest level was ROSE Coin. While many cryptocurrencies are still not close to their annual All-Time High (ATH) levels, ROSE has been steadily increasing since September. After witnessing a higher low in October, we saw the rally gain momentum, coinciding with Bitcoin’s rise and placing it on the positive divergence list with a few altcoins.
ROSE Coin, which has risen in 6 of the last 7 weeks, has increased by over 130% since September’s lowest level, reaching $0.088. This popular altcoin has seen its highest price in the last 470 days, surpassing its annual peak.
Like BTC, this cryptocurrency is approaching pre-interest hike levels and could enter the top 50 largest cryptocurrencies if the rally continues.
ROSE Coin Price Prediction
There is a clear reversal on the monthly chart, and the path to ATH is quite long. If the rise in BTC’s price and demand for ROSE Coin continue, the popular cryptocurrency could reach higher levels. However, first, it needs to cross the threshold of $0.09.
Closures above this could lead to peaks of $0.096 and $0.115. This altcoin, which spent a lot of time in the same region in June 2021, subsequently experienced an increase of nearly tenfold.
In the most optimistic scenario, after overcoming resistances at $0.19 and $0.29, a historical resistance of $0.4 can be targeted. As far-fetched as it sounds, during bull seasons, this is the price scenario we encounter with continuously increasing demand.
In the opposite scenario, closures below $0.083 could result in an accelerated decline to $0.068. Investors would benefit from closely monitoring the performance of BTC’s price.
- ROSE Coin’s rise outpaces many altcoins.
- Key resistance levels could signal further gains.
- Investor focus on BTC price crucial for trends.