Summary:
Bitcoin hits new all-time high, boosting the altcoin market.
Litecoin (LTC) and Bitcoin Cash (BCH) face declines after recent surges.
IntelMarkets (INTL) shows 11x growth potential amid market correction.
BCH finds support around $410, with analysts predicting potential rallies to $800 and $900.
Litecoin drops below 200-SMA but may recover to $128 soon.
As Bitcoin surged to a new all-time high, the entire altcoin market experienced a significant boost, attracting investors eager to join the Bitcoin rally. Notably, Litecoin (LTC) and Bitcoin Cash (BCH) were among the top beneficiaries of this upward trend.
However, with Bitcoin testing the $86,000 mark after a brief correction, altcoins began to see a price decline as investors took profits. During this market fluctuation, a new cryptocurrency called IntelMarkets (INTL) has emerged, with analysts predicting an impressive 11x growth potential in the coming months.
Bitcoin Cash (BCH) Faces Resistance Above $400
After a notable surge, the crypto market is now experiencing a correction, impacting the upward price movement of Bitcoin Cash (BCH). BCH rose from a weekly low of $375 to a peak of $475, but has since found support around $410. Despite this bearish trend, analysts like Salx believe BCH's price could rally to $800 soon, citing similarities in price charts to DOGE.
Another expert, Wales, forecasts that BCH may pump to $900. Currently, BCH is trading above the 200-SMA at $395.90, and with a 14-day RSI above 70, this indicates a bullish sentiment.
Litecoin (LTC) Price Drops Below 200-SMA
Litecoin (LTC) has seen a sharp decline following its recent rise, dropping from $82 to $72. This price dip coincides with Bitcoin's decline from the $89k region. Despite this drop, Litecoin remains profitable over the weekly and monthly timeframes. However, it has fallen below the 200-SMA at $72.76, and if this trend continues, it may test the next support at $68.76.
On a brighter note, if positive sentiment returns to the market, Litecoin could start another uptrend. Analysts like Crypto Snorlax believe this downtrend is temporary, with forecasts suggesting LTC could recover to $128 in the coming weeks.
IntelMarkets’ (INTL) 11x Potential Becomes Safe Haven for Investors During Market Correction
IntelMarkets (INTL) has managed to withstand the recent market correction, with its price rising from $0.009 to $0.045 in recent weeks. Experts anticipate that INTL's value may increase by 11x by 2025. The project has garnered over $2 million in funding, including significant investments from Fortune 500 companies, positioning itself as a promising DeFi project.
IntelMarkets is innovating the trading experience with its AI-based platform, providing sophisticated tools like the Multichannel Analysis tool for market data evaluation, and an AI-based trading bot for strategy mirroring and trend prediction. Notably, IntelMarkets operates on both Ethereum and Solana, allowing traders to choose based on their needs—offering access to smart contracts and liquidity pools or fast and cost-effective transactions.
The current decline in Bitcoin's value has impacted Litecoin and Bitcoin Cash, but IntelMarkets stands out as a promising investment opportunity with substantial growth potential.
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