Altcoin Market Gains Momentum as Bitcoin Surpasses $35,000
Most analysts did not anticipate the rapid surge of the Bitcoin price beyond $35,000. Altcoins have also benefited from this rally. The appetite for altcoins is increasing as the cumulative value of cryptocurrencies has exceeded the threshold of $1.33 trillion. This indicates that parabolic gains could continue for altcoins.
Cosmos (ATOM) Price Prediction
As long as the target range of $40,000 and the support level of $35,000 for BTC are maintained, investors will continue to have hope. So what is the expectation for ATOM Coin? By the end of October, the price broke the $7.60 resistance, completing the double bottom formation. Buyers pushed the price above $8.25 on November 5th, signaling the continuation of the rally.
The target of the formation is $8.90, and if the critical zone is surpassed, we could see an extension of the rally up to $10. The support that needs to be maintained is at $7.60, and closing below it could result in a drop to $7.07.
UNI Coin Price Predictions
The DeFi giant recently bounced off the $5 resistance. However, moving averages and RSI indicate that the uptrend could continue. If the $5 barrier is breached in a new attempt, we may witness the UNI Coin price rise to $6.40.
If the optimistic expectation does not materialize and there continue to be closings below $5, the price could drop to $4.36. Nevertheless, the current state of BTC suggests that the levels of $5.6 and $6.4 could be tested this time.
NEAR Coin Chart Analysis
On Tuesday, the NEARCON 2023 event will take place. The altcoin, which has been severely affected by the FTX crash, can take advantage of this opportunity for a real comeback. Comprehensive announcements regarding new products have recently been made. We can expect to see much more at this event. Even SOL Coin has surpassed $40, so it is now time for NEAR Coin to shake off the FTX rubble.
Bears have created a strong resistance at $1.63, but it is promising that bulls can keep the price above $1.43. If $1.63 is permanently surpassed, we could see that the psychological resistance of $2 has been broken, which would be a significant gain for NEAR Coin investors. However, if it lingers below the resistance for too long, selling pressure could continue down to $1.43 and below.