As Bitcoin Price  Heads to a 6-Digit Figure, These Altcoins Are Poised to Hit a 4-Digit Figure in 2024

The post As Bitcoin Price  Heads to a 6-Digit Figure, These Altcoins Are Poised to Hit a 4-Digit Figure in 2024 appeared first on Coinpedia Fintech News

The crypto trading volume is at its peak after reaching levels beyond $3.6 trillion as Bitcoin marks highs above $100K for the third consecutive time. Besides, Bitcoin’s dominance has dropped from the yearly highs of close to 60%, while the dominance of the other altcoins has risen from 28% to levels above 33%. While BTC marches towards a 6-digit figure, some of the altcoins are about to mark a 4-digit figure soon. 

BinanceCoin (BNB) 

BiananceCoin has maintained a consistent volume since the start of the year, but still, the price maintained a strong ascending trend to mark fresh highs close to $800 at around $793.35. Presently, the token is just 6% away from its highs and hence the BNB price is expected to initiate a strong upswing in the coming week. 

The BNB price has entered the final resistance phase before marking a new ATH. The token just hit 1 FIB at $795. However, the RSI is bullish and testing the upper threshold, intending to enter the overbought zone. Besides, the MACD displayed a bullish crossover as buying pressure mounts up. The current trade setup suggests the price is about to break the ATH but to reach $1000, the token needs to surpass 1.2 FIB at $940. 

BitcoinCash (BCH)

The popular Bitcoin fork, BitcoinCash, has been ranging significantly high within an ascending pattern since the start of 2023. The token has been forming constant higher highs, suggesting the bulls to have remained extremely dominant since the rebound in June 2023. However, the technicals have turned bullish and hence a new yearly high above $1000 could be imminent. 

The BCH price seems to be in the middle of a parabolic recovery phase after facing rejection from yearly highs at $719. The supertrend has turned bullish while the DMI levels remain strongly within the bullish range. Therefore, the BCH price is expected to maintain a healthy upswing, surpass the pivotal resistance zone between $710 and $773 and hit the upper resistance of the rising parallel channel at $929. If the bulls display some strength here, a rise above $1000 could be imminent, testing higher targets. 

Bittensor (TAO) 

The TAO price remained stuck within a descending trend since the beginning and after a strong rebound, it headed back to the resistance. Currently, the price has risen above the resistance zone between $647.3 and $672.8, which is also the neckline of the cup & handle pattern. Therefore, the TAO price is believed to maintain a healthy ascending trend to reach $1000 soon. 

As seen in the above chart, the price has risen above the neckline and is expected to enter the discovery phase soon. However, the volume remains elevated and hence a notable rise in trading activity is expected to push the price close to $1000 but before surpassing the milestone, bears could book some profits and slash prices to some extent. After a small retracement, the Bittensor price is expected to rise above $1000 and reach $1,100.