A notable cryptocurrency analyst has drawn attention to an altcoin that exhibits bullish signals while reviewing the most popular altcoins of the year. Bitcoin (BTC) $97,979 struggles to maintain levels above $98,500, and the altcoin market has experienced slight declines in recent hours. Which altcoin does Quinten anticipate will rise, and why?
Anticipated Altcoin Growth
As of the writing of this article, the analyst known as Quinten expressed optimism for the growth of STX Coin. He noted that the ability to maintain a two-year upward trend support is a promising indicator. If BTC can sustain its current levels, an increased appetite for risk among investors could trigger an upward movement in altcoins.
“STX looks remarkable in the chart. The previous resistance was perfectly retested and turned into support. It is currently hovering there and sitting above a two-year upward trend support.”
“Combine these two factors, and honestly, if you’re looking for one, it looks like an incredible entry to me.”
While the current level may provide a great entry point, it also carries the risk of significant losses for investors. No one can predict the future, and those who replicate Quinten’s strategy will not receive compensation if his predictions fail.
Insights on Solana and Cryptocurrencies
Daan Crypto Trades recently shared insights on the Solana $194 chart. He pointed out the weak liquidity due to the holiday week, stating;
“SOL held up well in the area I highlighted last week. Price movements can be a bit chaotic during holidays due to low liquidity. However, if the high timeframe area around $175 is held, I believe it will provide a solid base for an upward movement into the new year.”
The last analyst, Ali Charts, highlighted changes in positions in futures trading. Investors holding long positions on Binance experienced a decline from 66.73% to 53.6% in the last 24 hours, indicating a loss of faith in upward movements.
During periods of fear, speculative movements can lead to unexpected volatility. However, BTC’s inability to hold above $99,000 suggests that general disinterest may push it back to $95,000. When considering the lack of volume due to the holiday, recent declines in altcoins become easier to understand.