Four Altcoins Expected to Challenge All-Time Highs Following Bitcoin Surge
Bitcoin (BTC) has surpassed $85,000, achieving new all-time highs. Market experts anticipate a capital shift towards major altcoins that have not yet retested previous peaks.
Price Appreciation For Leading Crypto Post-Election
Market expert Jesse Olson shared an altcoin watchlist on social media platform X (formerly Twitter), highlighting four cryptocurrencies, including Solana (SOL). Currently priced around $218, SOL has risen 36% in the past week and is 15% below its all-time high of $259 from November 2021.
This surge led to nearly a 50% increase in trading volume over the weekend, allowing SOL to surpass Binance Coin (BNB) in market capitalization. Key resistance levels for Solana are at $222 and $230.
Another cryptocurrency on Olson's list is Ethereum (ETH), currently trading at approximately $3,300. ETH is 33% below its record high of $4,878 from November 2021 and is approaching a critical breakout point.
Chainlink Struggles To Break Resistance As Cardano Shines
Chainlink (LINK) has experienced a slight 1% decrease in the last 24 hours but has surged 43% over the week, trading at $14.70. LINK is 72% below its all-time high of $52.70 from May 2021, with a nearest resistance level at $14.80.
Cardano (ADA) has shown significant performance with an 84% increase in the weekly timeframe and an 80% rise over the past two weeks. Priced at $0.5959, ADA is still down approximately 81% from its all-time high of $3.09 reached in March 2020. The nearest resistance for ADA is at $0.6115, which could lead to a potential return to its yearly high of $0.81 if surpassed.
Despite challenges, Olson and other analysts maintain a positive outlook for the rest of the year. The recent victory of Donald Trump in the presidential election is expected to enhance institutional adoption of cryptocurrencies and boost capital inflows, fostering a favorable environment for price appreciation across leading crypto assets, including Bitcoin and the highlighted altcoins.
Featured image from DALL-E, chart from TradingView.com