The past few weeks have been marvellous for crypto traders and those with certain investments in crypto assets. The apex cryptocurrency Bitcoin defied all negative news and crypto stories about the industry to move past the $25k support level to over $28k. After the news of the USDC coin depegging and the SVB collapse, it was expected that there would be a colossal crypto crash.
But the reverse is the case as many tokens are riding on the bullish trend of Bitcoin to go into new positive levels. Top altcoins like Ethereum and BNB have been pumping for the past few days. It won't stop soon as long as the Bitcoin price continues to increase. Please continue to read as we share some of the top cryptocurrencies that will rally with Bitcoin this week.
As the proof-of-work hard fork of the main Ethereum blockchain, Ethereum classic continues to retain the major characteristics of the pre-merge Ethereum. One of the major things about Ethereum Classic now is that it is among the cryptocurrencies that will ride through the Bitcoin price increase in another bullish circle. With its resistance at $23, breaking the circle could mean more profits for investors as it could continue to rally in price until it reaches the $30 mark.
But if Ethereum Classic fails to reach this mark, it could mean a downtrend in price, and it would be very disastrous for investors. But breaking the $23 support line could mean a downtrend that could go all down to $18. Right now, the bulls must target $23 and move past it for investors to make massive profits this week.
Mask is the new kid in the block but has successfully attracted a new group of investors due to its price surge. According to Coingecko's stats, the cryptocurrency has increased by more than 40% in the past 24 hours.
Mask is expected to break and move past the $6.4 support level for a new price rally. On the other hand, if it doesn't succeed in breaking its current support level, its price could come down to $3.
APE investors have been very moody for the past few weeks because of the severe downtrend in its price. It was terrible. However, the token has remarkably recovered within the past few days. According to data provided by Coingecko, the token has made a fantastic increase of 18% within its weekly time frame. It is expected to increase more within the next few days.
Riding on Bitcoin's price increase, APE investors would hope that it continues its amazing run for another 7 days and more. If APE can breach the $5 trading mark, it could see its price inverse up to $6. But a downtrend in support level can lead to massive losses to investors.
Known as Fantom, FTM is set to follow the ranks of cryptocurrencies that will witness massive price increases within the week. One major factor contributing to its price increase is that many decentralized assets use their services. As a scalable L1 platform, significant names in the crypto industry, like Sushi and Curve, use their services to run their decentralized exchanges.
After going above its support line at $0.40033, investors expect that the scalable L1 asset will continue to ride through the waves of Bitcoin price surge. Investors expect it to reach and break through the $0.7419 price level in the long term.