Altcoins pop as bitcoin consolidates, analysis of Ethereum, XRP, IOTA, and Binance Coin

Published on by Cryptoslate | Published on

XRP recently saw a 40 percent increase, Ethereum is surging, and Binance coin is approaching all-time highs.

Bitcoin continues to make new highs after breaking above $6,450 on Apr.

At the time of writing, XRP traded above $0.45, which is very close to the ultimate target given by this pattern.

IOTA could be about to make a higher high if it is able to break above $0.39.

On Apr 20, 2019, Binance coin made a new all-time high when it rose all the way up to $25.5.

Now after a pullback to the $18.5 support level, it was able to bounce back above $20. BNB could be about to reach higher highs if it is able to trade above $25.5, which could set the stage for a major bull run of this cryptocurrency.

On the 4-hour chart binance coin is trading within an ascending parallel channel.

A break above the channel could give it a big push to new highs while a break below the channel could set it back below $20.Are altcoins catching up to bitcoin?

At this point, it seems like they could reach higher highs, especially Binance coin.

These all support the case that altcoins are starting to follow Bitcoin's lead. Disclaimer: None of the information above should be construed as investment advice.

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