BTC’s Current Move Up Could Trigger a Mini Altcoin Rally By CoinEdition

© Reuters. BTC’s Current Move Up Could Trigger a Mini Altcoin Rally

  • BTC’s price has climbed 4.53% over the last 24 hours.
  • AVAX, FTM, LINK, and DOT have all seen their prices surge as well.
  • An inverse head and shoulders pattern has formed on LINK’s daily chart.

BTC’s price has risen 4.53% over the last 24 hours according to CoinMarketCap. In addition, the global crypto market cap has risen 3.48% and now stands at $958.28 billion. This move by the market leader may trigger an altcoin rally as traders take profit and invest in altcoins. Four altcoins to watch are (AVAX), Fantom (FTM), Chainlink (LINK), and (DOT).

Similar to the crypto market leader, AVAX has risen 4+% over the last day as well, taking its price up to $17.43 at the time of writing. It has also increased 0.43% over the last hour.

Fantom (FTM) has also seen an increase in its price over time. Currently, FTM is trading at $0.2277 following a 3.60% increase. This is also FTM’s current daily high, with its 24-hour low at $0.2198.

Chainlink’s price is one of the top performers on this list so far, as its price rose 7.73% over the last day. This has pushed its price up to $7.65 and its market cap up to $3,776,615,586.

Lastly, Polkadot (DOT) has risen 3.88% to take its price up to $6.46 — ranking it at number 1 on CoinMarketCap’s list of the biggest cryptos by market cap with a market cap of $7,253,355,475.

Daily chart for LINK/USDT (Source: CoinMarketCap)

The daily chart for LINK/USDT shows that LINK’s price has triple-tapped the resistance between $8.00 and $8.25 and has formed an inverse head and shoulders chart pattern in the process — a bullish sign for LINK.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post BTC’s Current Move Up Could Trigger a Mini Altcoin Rally appeared first on Coin Edition.

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