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Bitcoin Price Analysis: Altcoins in Focus as BTC Rally Continues

source-logo  en.coin-turk.com 10 November 2023 22:16, UTC

Bitcoin price tested $37,500 on Friday, November 10th, but failed to sustain its momentum. It also retraced from $38,000 yesterday. The current upward trend in the king cryptocurrency, which has been gaining momentum for about 20 days, seems different from previous rallies. Investors are gradually convinced that we are in the midst of something different from the fake rallies seen in the past 1.5 years. So, what is the current situation with altcoins?

TON Coin Price Analysis

Before the BTC rally, TON Coin had its good days with the support of Telegram. The rally continued until November 8th, reaching $2.59. Taking profits is one of the most difficult decisions for investors during the transition periods to the bull season. However, investors who have reached satisfactory profit rates have made this difficult decision for TON Coin. The TON Coin price did not enter a downtrend, but it needs to surpass the resistance zone between $2.59 and $2.77 with the support of BTC.

We previously mentioned the target of $4.03 for TON Coin in the near future. If we see that the rallies in altcoins are accelerating, the target is clear. On the other hand, profitable investors may push the price down to the support level of $2 in the opposite scenario.

LINK Coin Price Predictions

After reaching $15 on November 8th, Chainlink tried to continue the rally the next day. However, profit-taking also had an impact here. If the downtrend continues, we may see a retracement to $13.24. However, closings above $15 will bring the targets of $18 and $20 into play. Closings below the support level may open the door to a drop of up to $11.94.

LINK Coin investors are motivated for their long-term goals, and it is not expected that the excitement in the RWA field, such as metaverse and other topics, will easily fade away. Concrete steps that billion-dollar financial giants will take in this field will positively affect the performance of Chainlink, one of the largest corporate crypto partners, in the long run.

MATIC Coin Chart Analysis

The price exceeded $0.7 and reached $0.83, and if profit-taking weakens, it can reach new highs. The targets are currently $0.89 and $1.29. It may be enough for BTC to move again to reach the target of the double bottom formation, as surprise rallies are currently creating FOMO in altcoins. In an environment where altcoins like LUNA and FTT have increased by over 50%, major altcoins like MATIC Coin are also likely to make similar movements.

In the worst-case scenario, a loss of $0.76 may occur, and the price is expected to drop to $0.7.

Disclaimer: The information in this article does not constitute investment advice. Investors should be aware that cryptocurrencies are highly volatile and therefore carry risks, and should conduct their own research before making any transactions.