Following a significant drop on Monday that resulted in an altcoin market cap decline of approximately $450 billion, bringing it down to $900 billion, the bulls’ recovery was swift and strong. As we move into Tuesday, the combined altcoin market cap stands at $965 billion, indicating a continued upward trend. $XRP and $KAS are currently leading the charge in this recovery.
Total3 confirms uptrend
The total market value of all cryptocurrencies, apart from Bitcoin (BTC) and Ethereum (ETH), is referred to as Total3. Notably, its price dipped to the base of a triangular pattern, confirming a potential bottom, before bouncing back and surpassing a robust horizontal support level again.
The possibility exists that Bitcoin may once more dip below its support level, given its current pattern of moving horizontally with high volatility. Nevertheless, it’s more probable that an upward break from the triangle will occur. For this to happen, Bitcoin simply needs to perform as expected.
$XRP breaks out – set to go higher
The digital currency XRP is contributing to the growth of the altcoin market, as shown by its recent breakthrough of a downward trendline in the daily chart. This suggests that it may continue to rise further.
The price of XRP has surpassed the 0.618 Fibonacci level and now encounters resistance at approximately $2.68, which is the 0.786 Fibonacci point. Potential future targets lie at $2.90, where the trendline originates, and further up at an ambitious $3.52, a 1.618 Fibonacci level. Given XRP’s robust community support, it may reach beyond these levels; however, this will heavily depend on the progress of the ongoing bull market.
$KAS faces strong resistance
On Tuesdays performance, it appears that $KAS is the altcoin performing exceptionally well, with a 13% increase backing this up. However, unlike $XRP which has significant room for growth, $KAS bulls will face numerous obstacles as they strive to break through resistance levels and challenge its all-time high.
At the moment, the price is being rejected by the horizontal resistance level of $0.13, along with its upward-sloping trendline. However, should a breakout happen, it’s likely that the price will move towards $0.18.
Read More
- PYTH PREDICTION. PYTH cryptocurrency
- The Final ‘Gladiator II’ Trailer Has Arrived
- IMX PREDICTION. IMX cryptocurrency
- Solana L2 Sonic includes TikTok users in airdrop
- DC’s ‘Clayface’ Movie From Mike Flanagan Lands 2026 Release
- ‘Fast and Furious’ Star Paul Walker Remembered 11 Years After His Death
- Aamir Khan says India would go ‘ballistic’ if Laapataa Ladies wins Oscars; ‘We have been dying to…’
- XRP price slips as RLUSD market cap hits $53m, liquidations rise
- Crypto VC funding roundup: Riot snags over $594m, BVNK raises $50m
- POL PREDICTION. POL cryptocurrency
2025-01-14 15:12