Rosa Pedraza
Feb 13, 2024 - 12:10

Altcoins Rally Bitcoin New Peaks

BTC seeks new highs, altcoins recover. What will SOL, ADA, AVAX, and DOGE be worth in a new surge? Predictions included.

Bitcoin (BTC) is currently on the rise, and as a result, altcoins are also starting to recover. This raises the question of what the value of these altcoins will be if there is a new surge. We saw a similar event at the end of last year, where Bitcoin's price rise led to strong recoveries in altcoins while Bitcoin itself consolidated. So, what are the price targets for the rise of SOL, ADA, AVAX, and DOGE?

Solana (SOL) has recently broken the neckline of an inverse H&S formation and is currently struggling to maintain the $110 level. The rise in Bitcoin's price has had an impact on the SOL Coin market, but the recent surge did not result in a significant movement. If buyers continue to hold the price at $107, SOL Coin could continue to rise to $117 and $126. Closing above $126 could bring the $135 peak into play, but a sharp price drop could see it fall towards $93 and $80.

Cardano (ADA) has not yet experienced the major surge that was anticipated, and there has not been a very impressive recovery from the bottom. However, the bulls have not given up defense below $0.53, and ADA Coin is currently trying to hold at $0.5565. In an optimistic scenario, it could initiate a rebound to the $0.62 and $0.68 levels, but if selling resumes, investors could witness a further decline to $0.46 and $0.42.

Avalanche (AVAX) is back above $40, and the bounce from the 20-day EMA at $36.72 indicates that buyers are still in the game. As a result of rising BTC price expectations, AVAX is currently trending positively. Firm closings above $42 could target peaks above $50, and this recent surge could bring the long-forgotten $70 price levels back into play for AVAX.

Dogecoin (DOGE) has been trading within a symmetrical triangle, indicating indecision. The RSI also points to a balance. It is essential for buyers to push the price above the triangle to gain dominance. In a bullish scenario, targets of $0.1 and $0.11 are envisioned, while a downturn could lead to a drop to $0.06.

It's important to note that the information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.