Last week’s introduction of spot Bitcoin ETFs created chaos in the market, with the price retreating from $49,000 to $41,500. Currently, BTC is finding buyers at $42,700, while altcoins seem to be weathering the storm with a stronger structure. Which altcoins could lead in a potential rise?
Is It Time for a Rise in Cryptocurrencies?
Despite the market’s significant pullback following the ETF decision, altcoins have shown a more robust stance compared to Bitcoin. According to crypto analyst Jelle’s statement on January 15th, some altcoins appear to have already solidified their positions for the next surge.
The analyst stated:
While the market pulled back this week, #altcoins held strong. They seem more than ready for the next rise.
Current Status of Cosmos (ATOM)
Despite Bitcoin’s decline, altcoins like Cosmos (ATOM) have maintained their strong structures. If we discuss ATOM’s price, maintaining above the $8-9 level is crucial. According to famous analyst Michael van de Poppe’s statement on January 14th, there’s a possibility to surpass the previous ATH and reach $25, provided this critical level is maintained.
As of writing, ATOM’s price was trading at $10.09, with a 0.69% decrease in the last 24 hours. The altcoin had seen a 5.10% drop the previous week, with a 30-day loss of around 9.00%.
Will BNB (BNB) Coin Rise?
BNB’s greatest strength may be seen as the advantage of being the native token of the Binance cryptocurrency exchange. This advantage has become apparent after the recent performance gains of BNB (BNB).
After a pattern of five downward waves and a bullish divergence, a trading opportunity of approximately 40% emerged for BNB. Currently, all eyes are on the statement made by analyst CoinsKid on January 15th, pointing to a potential formation at $350.
At the time of writing, the BNB price was trading at $317. Compared to the previous day’s price, the altcoin had increased by 3.38%, with a weekly gain of 4.01% and a monthly increase of 27.42%.
Chainlink (LINK) Price
Chainlink (LINK) has been one of the standout altcoins, showing a stronger performance compared to previous days, surpassing its resistance point, and establishing a healthy support level.
Chainlink has strong demand in the $14.8 to $15.2 region, with a total of 85.12 million LINK purchased by 17,650 addresses.
According to a share by prominent analyst Ali Martinez on January 15th, considering there is no significant resistance area in the near vicinity for the price, Chainlink could potentially be ready to move towards the $20 level.
Meanwhile, LINK saw a 2.19% increase in the last 24 hours and was trading at $15.41, with a 12.76% rise over the last 7 days. The latest data showed a 5.97% increase in price.
