As Bitcoin Price Heads to a 6-Digit Figure, These Altcoins Are Poised to Hit a 4-Digit Figure in 2024
Cryptocurrency trading volume peaked after reaching over $3.6 trillion as Bitcoin topped $100,000 for the third consecutive time. Additionally, Bitcoin’s dominance has declined from yearly highs of nearly 60%, while other altcoins’ dominance has increased from 28% to levels above 33%. While BTC is heading towards 6 digits, some altcoins are also on the verge of breaking 4 digits.
Binance Coin (BNB)
BiananceCoin has maintained steady trading volumes since the beginning of the year, but the price has continued a strong upward trend, hitting new highs close to $800 at around $793.35. Currently, the coin is only 6% away from its highs, so Binance Coin Price Strong gains are expected in the week ahead.
BNB price has entered the final stage of resistance before a new ATH. The coin just hit 1 FIB at $795. However, the RSI is bullish and testing the upper limit, aiming to enter overbought territory. Additionally, the MACD is showing a bullish crossover as buying pressure intensifies. The current trading setup suggests that the price is about to break through ATH, but to reach $1,000, the coin would need to exceed 1.2 FIB, which is $940.
Bitcoin Cash (BCH)
Since the beginning of 2023, popular Bitcoin fork BitcoinCash has been fluctuating significantly in an uptrend pattern. The coin has been forming consistently higher highs, indicating that bulls remain in control since the June 2023 rally. However, the technical picture has turned bullish, so a breakout to new yearly highs above $1,000 may be imminent.
BCH price appears to be in the midst of a parabolic recovery after retreating from yearly highs of $719. The supertrend has turned bullish while DMI levels remain strongly within bullish territory. therefore, BCH Price It is expected to maintain a healthy rise above the key resistance zone between $710 and $773 and touch the upper resistance of the ascending parallel channel at $929. If the bulls show some strength here, the price could soon cross $1,000 to test higher targets.
Bit Tensor (TAO)
TAO price has been in a downtrend since the beginning of the year, returning to resistance after a strong rebound. The price has now risen above the resistance zone between $647.3 and $672.8, which is also the neckline of the cup-and-handle pattern. Therefore, it is believed that TAO price will maintain a healthy upward trend and will reach $1,000 soon.
As shown in the chart above, the price has risen above the neckline and is expected to enter the discovery phase soon. However, trading volumes remain high, so a significant increase in trading activity is expected to push the price closer to $1,000, but bears may take some profits and cut the price to some extent before breaking through this milestone. After a minor correction, Bittensor price is expected to rise above $1,000 and reach $1,100.
