Nearly two weeks after the approval and listing of several spot Bitcoin exchange-traded funds (ETFs) in the United States, it is safe to assume that the event had already been priced in during the fourth quarter of 2023 Bitcoin (BTC) bullish breakout.
Furthermore, the recent accelerated Bitcoin selloff by whale traders, short-term holders, and miners has weighed heavily on the BTC dominance against the altcoin market. As a result, it is prudent for crypto traders to keep a close watch on the altcoin market, as more gains will be registered shortly.
Altcoins to Pay Close Attention to in the Coming Weeks
Chainlink (LINK)
While Bitcoin price has been showing short-term weaknesses in the past three weeks, Chainlink (LINK) price has been gradually awakening from a weekly consolidation. According to the latest market data, LINK price has rallied nearly 30 percent in the past three weeks to trade around $15.72 on Monday during the early Asian session. According to a popular crypto analyst Michaël van de Poppe, LINK price could easily reach $25-$30 in the near term if the bulls hold on the support range between $12.5 and $13.1.
Arbitrum (ARB)
The other altcoin to pay close attention to for a bullish breakout in the near term is Arbitrum (ARB), the leading Ethereum-based scaling solution with more than $2.6 billion in Total Value Locked (TVL) and over $2 billion in stablecoins market cap.
According to Poppe, ARB’s price can easily reach $3 after it finishes the current market correction. Furthermore, the altcoin is currently retesting the support level around $1.78 after rallying towards a new all-time high (ATH) of around $2.3
Cosmos Hub (ATOM)
As for Cosmos Hub (ATOM), a rising interchain ecosystem, Poppe is convinced the altcoin will reach as high as $26 in this bullish cycle if the bulls hold on the support level around $9. Furthermore, the weekly Relative Strength Index (RSI) has held above the 50 level in the past few weeks despite the ongoing market correction.
The post appeared first on Coinpedia
