Bitcoin mystifies the seasonal holders with high volatility, yet it has confirmed consecutive higher lows in each cycle. However, the broader crypto space hampered the bearish rule on Monday with massive incoming buy orders. Notably, Bitcoin, Ethereum, Cardano, Solana, and the majority of the altcoins captured substantial gains in 24 hours and uplifts the global market cap close to $2.6 trillion.
Bitcoin Would Delay the Altseason If This Happens!
The Bitcoin price has been trading within the tapered zone for a month. Though, the asset attempt to pass the crucial levels, woefully it has failed every time. A crypto analyst Micheal Van De Poppe is quite optimistic about a little more correction of the flagship asset. The chart shared by him confirms the price rejection between $59,923 and $59,610. 88 multiple times over the past month.
However, if the BTC price faces rejection around the same zone, then the analyst expects the correction up to $49k. With the potential commencement of its bull rally, the asset would take a leg up beyond $69k. On the contrary, as the asset has been looking strong with 5.94% gains round the clock, if it manages to break the crucial zone, then we would expect the alt-season very soon.
Notably, Holochain (HOT), Verasity (VRA), and Arweave (AR) which were referred to as undervalued could make most of the gains in their next rally.
Holochain (HOT):
Holochain price has generated subsequent higher lows since the start of Q4. However, it has faced rejection at $0.0148 multiple times. The price has been trading within a rangebound scale between $0.013 to $0.012 for a month. If the asset breaks the crucial resistance of $0.01553, it would chug up to reclaim its ATH with certain fluctuations. On the flip side, it would flip to support of $0.009 if bears take reign over the trade.
Verasity (VR) :
November has been a correction month for Verasity price action. The altcoin flipped from ATH of $0.09 to the crucial support of $0.055. However, as altseason is creating buzz around the market, the VR price broke at $0.051. The next target for the altcoin would be to surge beyond ATH in its immediate bull cycle. In contrast, in case of a rise in the sell orders would initially trigger price retest at $0.0516, it would further correct to $0.0436 if it fails to hold the above support.
Arweave (AR) :
The asset has seen substantial growth since the start of the year with requisite corrections. However, with the recent brake out at $52.16 the asset has soared by more than 10% to reach the upper support of $58.10. As there has been a rise in the buy orders in the past couple of hours, the asset would claim an ATH of $90.94 if it passes the resistance of $64.18. On the contrary, the asset would plummet to the support of $47.19 in case of bearish dominance in the next couple of days.
Collectively, the alt season is completely dependant on Bitcoin price action in the next couple of days. If it passes the test of crucial resistance, the asset would quickly reclaim the previous ATH, giving rise to alt season very soon. Notably, the aforementioned coins hold the solid potential to gain the maximum momentum in such a case. However, if the flagship asset again faces the rejection at $59k, then altseason would probably begin in January 2022.
The post appeared first on Coinpedia
