As the market dominance of Bitcoin (BTC) begins to decline, there is movement in the altcoin market. Experts believe that some cryptocurrencies, which have recently attracted attention and have the potential to rise, will strengthen against Bitcoin.
On March 31, Cointelgraph analyst and full-time trader on the Amsterdam stock exchange, Michael van de Poppe, who shared an altcoin market assessment video on his personal YouTube channel, pointed out the price of three altcoins.
Pointing to the movement of Swipe (SXP), DIA and KAVA prices against BTC in his analysis, Poppe stated that all three altcoins have the potential to rise against BTC. He argued that if this happens, their prices may get a parabolic increase against the dollar.
Swipe strengthened against dollar, got a way against bitcoin
Daily chart of SXP / BTC parity. Source: TradingView
Poppe, who made his initial assessment for the Swipe (SXP) currency, said it is now 87 percent lower than its all-time high against Bitcoin. He argued that this data indicates that the SXP price has the potential to further increase.
In his statement, the analyst said that the SXP price, which saw a good momentum against the dollar and saw peaks, is still in the first places against BTC. Stating that it is valued below what it should be against Bitcoin, Poppe emphasized the upward potential of SXP.
DIA / BTC preparing for first bull cycle
Daily chart of the DIA / BTC parity. Source: TradingView
Michael van de Poppe said that if it crosses the resistance zone (shown in red on the chart), which it has been able to test repeatedly for more than three months, then the major uptrend could begin for the DIA price.
He suggested that the strong uptrend could come after the DIA / BTC parity, which is currently pushing the 0.000077 zone, to the 0.0001 level.
Pointing out the importance of staying strong around 0.000042 Sats during March, the analyst stated that as long as this support is not broken, the bullish potential will continue.
KAVA / BTC parity on the bounce ramp
Daily chart of KAVA / BTC parity. Source: TradingView
Analyst Poppe argued that KAVA price also has the potential to rise against BTC, as in the previous two altcoin examples. He commented on the possible move of the KAVA / BTC parity, which he said is currently in a period of accumulation and started to move slightly upward.
Working as support in August 2020, he highlighted the level of 0.00018 KAVA / BTC, which he believes will serve as strong resistance in the near future. He suggested that if the level shown with the dashed lines on the chart is exceeded, an accelerated rise may come.
He stated that if the support zones indicated by the red rectangles on the chart are not broken, the upward potential will continue.
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