Bitcoin is in a bearish trend since the past couple of weeks. The dominance of BTC has also been declining which is a good sign for the altcoin market. Once the dominance starts reaching a top, altcoins will start entering a bullish trend.
Some of the altcoins which would perform well in the coming bull cycle could be Polkadot, Tezos and Ethereum. Ethereum is generally the altcoin market leader and given the resemblance of the Polkadot ecosystem with ETH, we could see a bullish trend in ETH as well. XTZ has been another sleeping altcoin which has been accumulating and has a good potential.
ETH/USD – Price Prediction
ETH is currently trading above the support zone of $1242. How this support holds will determine the course of action for ETH in the near future. As long as ETH can stay above this support, we could see a move towards $1341, $1401, $1450 and $1500. However, if the support at $1242 breaks, we could start seeing a drop towards $1184, $1114 and $1046 which would be good entry points for longing ETH.
DOT/USD – Price Prediction
DOT is currently trading just below the support zone of $15.89. If it cannot reclaim this support zone, we could start seeing a drop towards the previous support zone at $14.73 and a less likely but possible drop towards $12.72. Once the supports have been established, we could start seeing a move from DOT towards $17.69, $19.49, $20.94, $22.39, $24.46, $27.10 and $34.71.
XTZ/USD – Price Prediction
XTZ is trading just above the support zone of $2.69. As long as XTZ is trading above this support zone, we could start seeing a move towards $2.92, $3.08, $3.22, $3.43, $3.69 and $4.44. Failure to hold the support at $2.69 could lead to a drop towards $2.46 and $2.28.
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