Bitcoin is trying to maintain above $50,600, but it struggles to manage. That has not prevented the altcoins from following in Ether’s tracks after the top-ranked altcoin reached around $4,000 at the beginning of September. This fact has driven the market dominance of Ether above 21%, while the power of Bitcoin has narrowed to 41.2%.
However, Bitcoin’s uncertainty in the past several days has not changed the vision of Mike McGlone, senior commodity strategist of Bloomberg. He has held a $5,000 target on Ether and $100,000 on Bitcoin.
Apart from the top two cryptos, the nonfungible token sector started to attract investor’s consideration after July. Jordan Finneseth, a contributor of Cointelegraph, recently recommended that the current drop in transaction volumes could be indicating a shift of the capital from the nonfungible token sector to the decentralized finance area.
The charts of the top cryptos that might outperform
Bitcoin went above the $50,400 resistance at the beginning of September, hitting almost $51,000. However, the long view of the day’s candlestick shows a lack of buying at high levels. Doji candlestick pattern followed that dynamic on Sep. 4, showing uncertainty.
The negative change on the RSI shows that the bullish momentum might seem weak. However, the upward movement averages show that it has the potential to go upwards. If buyers manage to drive the price over $51,500, the BTC/USDT pair might finally show its uptrend. The first stop might be at $55,000, but if it crosses this resistance, the move might also reach $65,000.
The bulls attempt to push and maintain Litecoin over the overhead resistance at $225.35. If they manage to succeed, it will finish a rounding pattern that could cause a new uptrend.
FIL token went above the overhead resistance at $99.
FTT Token broke over the previous all-time high at $63.14.
IOTA surged sharply from $0.97 to $2.09.