February 12, 2024
Bitcoin's ability to overcome strong resistance at current levels is crucial for the start of a proper altcoin rally, according to a seasoned crypto trader and educator.
If Bitcoin can maintain its strength in the face of major resistance, it has the potential to kickstart the rallies of major altcoins. One such altcoin is Solana (SOL), which could see its price jump to $140, as predicted by cryptocurrency educator Koroush Khaneghah.
Bitcoin is currently leading the market upsurge, setting a new cycle price high over $49,500 on major spot exchanges. Its strong performance at turbulent levels could also benefit other altcoins, such as Chainlink (LINK), which is already showing signs of a breakout.
While Ethereum has faced challenges, Tron (TRX) has emerged as a strong competitor. Over the past three months, TRX has gained over 25% in value, surpassing a market capitalization of $11 billion. Tron's resilience and market performance make it a top contender in the crypto space.
Bitcoin's ability to overcome resistance and maintain its market leadership is crucial for the success of altcoins like Solana and Chainlink. Additionally, Tron's impressive growth and market performance position it as a strong competitor in the cryptocurrency market. Investors should closely monitor Bitcoin's performance and consider the potential opportunities presented by altcoins like Solana and Tron.