Bitcoin
Top Altcoins to Stack Next Week: Uniswap (UNI), Notcoin (NOT) and Bonk Prices Set to Rise Further
The altcoin sector is becoming more dominant while Bitcoin price remains stable near $70,000. Additionally, the recent sanctioning of a spot Ethereum ETF is increasing altcoin purchasing demand, potentially leading to an increase in trading volume soon.
Bitcoin’s $70K Could Halt Altcoin Rally
Recently, the price of BTC experienced a significant increase, driven by an increase in ETF volume, consolidating around the $70K mark. Following the approval of a spot Ethereum ETF, Bitcoin’s dominance saw a small decline, dropping 2.3% over the week.
Since May 20, the seasonal altcoin index has shown a downward trend, going from a peak of 43 to 35. This indicates that the market may not be ready for a recovery yet. However, with preparations underway for the SOL and XRP ETFs, the altcoin market could soon gain momentum.
Uniswap (UNI) Price Analysis
Uniswap price has been rising exponentially above its Fib channels and currently maintains momentum around the $11 mark. Both sideways traders are now looking for a clear trend in the coming hours. At the time of writing, UNI price trades at $11.2, up more than 3.8% from yesterday’s rate.
Bears are currently strongly defending the $12 level; however, buyers intend to overtake by increasing pressure. A rise above $12 could strengthen long positions, resulting in a rise towards the $17.2 level.
See more information: Uniswap (UNI) Price Exits Consolidation; A further 25% recovery could be on the horizon!
However, a rejection of $12 would suggest that the bears are trying to establish this level as a resistance level. To initiate a downward rally, bears must break below the EMA20 trendline. This could take the price to $8.2.
Bonk Price Analysis
Bonk price has recently shown significant upward movement, trying to overcome nearby resistance levels. Despite this, bears are actively trying to prevent further increases, creating strong resistance near the $0.000037 mark. Bonk’s price is currently at $0.000035, reflecting a 2.8% drop in the last 24 hours.
The BONK/USDT trading pair appears ready to break above Fibonacci levels and reach resistance at $0.000048. Bears consider maintaining this level vital to preserving their control, as exceeding it could mark a change in market dominance. If successful, the price could rise to a new ATH next week.
Read too: 60% Upside Potential in BONK Price if Bulls Break Past $X
On the other hand, a decline below the moving averages could strengthen bearish positions. As a result, Bonk price may approach the immediate support level at $0.000022. If the bears continue to push further, we could see Bonk price fall towards the $0.0000135 support.
Notcoin Price Analysis
Notcoin price has been experiencing fluctuations around the moving averages on the 15-minute price chart, reflecting a significant struggle between buyers and sellers. Recently, the bears managed to send the price below the EMA trend lines. At the time of writing, the price of NOT trades at $0.0051, up more than 2.8% in the last 24 hours.
Sellers are trying to keep the price below the moving averages and Fib lines. If successful, NOT/USDT could fall to the key support level at $0.0046, which is likely to trigger aggressive buying by buyers. A robust recovery towards $0.0046 could prolong the sideways movement.
To indicate a change in momentum, buyers need to overcome the descending resistance channel. Achieving this could trigger a rise to $0.0057 and potentially hit key resistance at $0.0068.