Several altcoins are likely to rally if Bitcoin can resume its up move this week.
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- Price Analysis
Most top performers have reached their resistance levels and may consolidate or correct over the next week.
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Most top performers of the past week have bounced sharply from their lows, which is a positive sign as it indicates buying at lower levels.
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Bitcoin and cryptocurrency markets are witnessing profit booking at higher levels and buying on sharp falls, pointing to consolidation over the next few days.
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With Bitcoin’s fall below $10,000, the top performers of this week are witnessing profit booking.
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It could be a good time to buy select cryptocurrencies as bulls have defended the critical support levels which shows demand at lower levels.
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The top-performing cryptocurrencies are showing signs of profit booking at higher levels and this suggests the market is in a consolidation phase.
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A few of the top 5 performers are showing promise and are likely to start an uptrend. Which are those? Let’s study the charts.
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