{"id":122821,"date":"2020-01-12T04:46:53","date_gmt":"2020-01-12T04:46:53","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=122821"},"modified":"2026-04-16T17:38:58","modified_gmt":"2026-04-16T16:38:58","slug":"analyst-these-major-altcoins-could-rocket-higher-as-crypto-markets-build-strength","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/analyst-these-major-altcoins-could-rocket-higher-as-crypto-markets-build-strength\/","title":{"rendered":"Analyst: these major altcoins could rocket higher as crypto markets build strength"},"content":{"rendered":"<p>Bitcoin\u2019s bulls have been able to hold the benchmark cryptocurrency above the $8,000 level for the past 24-hour, signaling that they have some significant strength at the moment. This strength has spilled over into the altcoin markets, leading many cryptos to incur notable near-term gains.<\/p>\n<p>This momentum is elucidated while looking at the recent price action of some major cryptocurrencies, including <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin-cash\/\">Bitcoin Cash<\/a>, <a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">Ethereum<\/a>, and <a href=\"https:\/\/cryptoslate.com\/coins\/litecoin\/\">Litecoin<\/a>, which have all been able to post sizeable gain over the past few days.<\/p>\n<p>One analyst is now noting that many of these cryptos are on the cusp of breaking above a key resistance level, which \u2014 if successfully broken above \u2014 could lead them to incur massive momentum.<\/p>\n<h2>Altcoins on the verge of major bullishness as crypto markets begin shaping up<\/h2>\n<p>Yesterday, multiple major altcoins incurred bull market-like rallies that led many of them to post double-digitBitcoin gains, with Bitcoin Cash surging over 10 percent, while its fellow BTC hard fork, Bitcoin SV, posted a whopping 27 percent climb.<\/p>\n<p>Other altcoins saw slightly more tempered gains, with Ethereum climbing a few percent while Litecoin and EOS both jumped just under 10 percent.<\/p>\n<p>This momentum has carried over into today, as most major altcoins have been able to climb a handful of percentage points, with Litecoin leading the way with a 6.5 percent surge.<\/p>\n<h2>If these altcoins break key resistance levels, massive rallies could ensue<\/h2>\n<p>Scott Melker \u2014 a prominent analyst who tends to focus primarily on cryptocurrencies \u2014 shared his thoughts on major altcoins in a recent <a href=\"https:\/\/www.getrevue.co\/profile\/TheWolfDen\/issues\/the-wolf-den-11-bitcoin-large-caps-beyond-meat-and-sleep-trading-220137\">blog post<\/a>, explaining that most of them are poised to soon see significantly further bullishness.<\/p>\n<p>While speaking about Bitcoin Cash, he explained that the crypto is currently in the process of breaking above the upper boundary of a long-held descending channel, but it needs to continue holding this level in order for it to start a massive rally.<\/p>\n<blockquote><p>\u201c[Bitcoin Cash\u2019s] price was consolidating against the top of the descending channel\u2026. Locally, price broke out of an ascending channel and was retesting resistance as support in the grey box&#8230; As you can see price is now breaking out of the downtrend,\u201d he said while pointing to the below chart.<\/p><\/blockquote>\n<figure id=\"attachment_122822\" aria-describedby=\"caption-attachment-122822\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-122822 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/01\/ScottMelkerBCH.png\" alt=\"Altcoins Crypto\" width=\"600\" height=\"269\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/01\/ScottMelkerBCH.png 600w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/01\/ScottMelkerBCH-300x135.png 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><figcaption id=\"caption-attachment-122822\" class=\"wp-caption-text\">Image Courtesy of Scott Melker<\/figcaption><\/figure>\n<p>He shared a similar sentiment while discussing <a href=\"https:\/\/cryptoslate.com\/top-altcoins-ethereum-xrp-bitcoin-cash-litecoin-eos-technical-analysis\/\">Ethereum<\/a>, explaining that the crypto is at the upper boundary of a strong resistance level and that another upwards Bitcoin movement should allow it to \u201cblast through resistance.\u201d<\/p>\n<figure id=\"attachment_122823\" aria-describedby=\"caption-attachment-122823\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-122823 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/01\/MelkerETH.png\" alt=\"Altcoins Crypto\" width=\"600\" height=\"264\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/01\/MelkerETH.png 600w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/01\/MelkerETH-300x132.png 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><figcaption id=\"caption-attachment-122823\" class=\"wp-caption-text\">Image Courtesy of Scott Melker<\/figcaption><\/figure>\n<p>The coming hours and days will likely offer insight into whether the highly anticipated \u201caltseason\u201d is right around the corner, or if this will ultimately prove to be just a series of fleeting rallies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2019s bulls have been able to hold the benchmark cryptocurrency above the $8,000 level for the past 24-hour, signaling that they have some significant strength at the moment. This strength has spilled over into the altcoin markets, leading many cryptos to incur notable near-term gains. This momentum is elucidated while looking at the recent price [&hellip;]<\/p>\n","protected":false},"author":174,"featured_media":122827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Analyst: these major altcoins could rocket higher as crypto markets build strength<\/title>\n<meta name=\"description\" content=\"One analyst is noting that many altcoins are on the cusp of breaking above key resistance, which could lead these cryptos to incur massive momentum.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/analyst-these-major-altcoins-could-rocket-higher-as-crypto-markets-build-strength\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analyst: these major altcoins could rocket higher as crypto markets build strength\" \/>\n<meta property=\"og:description\" content=\"One analyst is noting that many altcoins are on the cusp of breaking above key resistance, which could lead these cryptos to incur massive momentum.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/analyst-these-major-altcoins-could-rocket-higher-as-crypto-markets-build-strength\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-12T04:46:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-16T16:38:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2020\/01\/rocket.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Cole Petersen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cole Petersen\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/analyst-these-major-altcoins-could-rocket-higher-as-crypto-markets-build-strength\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/analyst-these-major-altcoins-could-rocket-higher-as-crypto-markets-build-strength\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/cole-petersen\/#person\",\"name\":\"Cole Petersen\",\"url\":\"https:\/\/cryptoslate.com\/author\/cole-petersen\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/cole-petersen\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/cole-petersen\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/11\/author-cole-petersen.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/11\/author-cole-petersen.jpg\",\"caption\":\"Cole Petersen\"},\"jobTitle\":\"Journalist\",\"description\":\"Cole is a freelance journalist and university student studying philosophy. 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