Experienced Analyst: These 4 Altcoins May Skyrocket With Bitcoin’s Breakthrough!

Experienced technical analyst Rakesh Upadhyay says that Bitcoin is trying to turn the $ 69,000 level into support. The analyst states that if BTC achieves this, the horizon is open for 4 altcoins. Can Bitcoin stay above $69,000 and start a recovery? Will these 4 altcoins chase higher? The analyst is looking for answers to these questions.

BTC price analysis: Bulls are buying dips, these levels are on target!

cryptokoin.com As you follow from , Bitcoin fell sharply from the $72,000 minor resistance on June 7. Thus, it signaled that the bears continue to be active at higher levels. The pullback is finding support at the 20-day exponential moving average ($68,603). This shows that the bulls continue to see declines as a buying opportunity. If the price rebounds from the 20-day EMA in a strong form, the bulls will try to lead BTC back towards the overhead resistance at $73,777. A break and close above this resistance could open the doors for a potential rally to $80,000 and subsequently to $88,000. On the contrary, if the price falls below the 20-day EMA, it will signal that the bulls have given up. It is possible that this will pull the price to the 50-day easy moving average ($65,807).

BTC/USDT daily chart. Source: TradingView

BNB price analysis: Formation target for altcoin is 775 dollars

Binance Coin (BNB) started a correction from $722 on June 6. This shows that short-term investors are booking profits. On the downside, the most important support to watch is the 20-day EMA ($639). If the altcoin price rebounds strongly from the 20-day EMA, it would indicate that sentiment remains positive and traders are buying on dips. This will increase the possibility of the bull trend starting again. It is possible for BNB to rise to $775, which is the formation goal later. This positive view will be invalidated in the near term if the price continues to decline and settles below the $635 breakout level.

BNB/USDT daily chart. Source: TradingView

TON price analysis: Altcoin will probably make its way to $10!

The bulls are failing to keep Toncoin (TON) above the overhead resistance at $7.67. This encourages short-term traders to book profits. A positive sign is that the pullback found support at the 20-day EMA ($6.80). If the altcoin price turns up from the current level, the bulls will try to break the $7.67 barrier again. If they achieve this, TON will likely accelerate towards the $10 level. Conversely, if the price turns down from the current level or overhead resistance and breaks below the 20-day EMA, it will indicate that the bulls are rushing to the exit. This is likely to drop TON to $6.

TON/USDT daily chart. Source: TradingView

FIL price analysis: Bulls are trying to form a base!

Meanwhile, Filecoin (FIL) has been consolidating between $5 and $6.77 for several days. This shows that the bulls are trying to form a base. The bulls attempted to push the price above overhead resistance on June 7. But the long wick on the candlestick shows that the bears are fiercely defending the level. A positive sign in favor of the buyers is that they have stopped the retracement in the moving average. If the altcoin price turns higher from the current level and rises above $6.77, this will indicate the beginning of a new move higher. It is possible for FIL to rise to $8.54 and subsequently to $9.35.

FIL/USDT daily chart. Source: TradingView

INJ price analysis: Formation objective for altcoin is $41.74

Injective (INJ) formed an ascending triangle pattern that will complete with a breakout and close above $29.93. Thus, the token started to gradually rise towards the 20-day EMA ($26.15). Additionally, the RSI has jumped into positive territory. These also show that the bulls have a slight advantage. If buyers break the barrier at $29.93, INJ will likely gain momentum and rise to $36.50 and eventually to the formation target of $41.74. This optimistic view will be negatively affected in the near term if the price turns down and breaks below the base line. It is possible that INJ may drop to $18 later.

INJ/USDT daily chart. Source: TradingView