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Altcoins bag double-digit gains as Bitcoin price approaches $37,000


30 Jun 2021

#Polygon

MATIC, SUSHI and CAKE soar after Bitcoin bulls finally press the price above the $35,000 resistance. Cryptocurrency prices surged on June 29 as Bitcoin (BTC) price pushed through the $35,000 resistance level and lifted the total market cap by $93 billion, with $50 billion of that total flooding into altcoins.

Bitcoin put on a 7% gain on the day to climb back above $36,000 and leading traders to expect a rally to the $38,000 to $41,000 level if (BTC) can flip the $35,000 level into support.

As the market turned green, data from Cointelegraph Markets Pro tracked notable bullish developments in a number of select altcoins including Polygon (MATIC), SushiSwap (SUSHI) and PancakeSwap (CAKE). 

Polygon (MATIC)

The first coin that has been gaining traction lately is Polygon (MATIC), an Ethereum (ETH) network layer-two solution, whose price has increased 35% since its swing low price of $0.93 on June 22 as BTC crashed below $29,000. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for MATIC on June 27, prior to the recent price rise.

The VORTECS™ Score for MATIC hit 80 and turned green on June 27 just as the price of MATIC began to rally 21% from $1.03 to $1.25 over the next 48-hours. The NewsQuake™ alert system caught the news of MATIC being listed at OKEx on June 28 and this was followed by a rise in the VORTECS™ Score to a high of 91 and a price rally of 10% on June 29.

SushiSwap (SUSHI)

SushiSwap (SUSHI) was also identified as a strong mover by Cointelegraph Markets Pro after the asset's VORTECS™ Score turned bullish.Market conditions for SUSHI have been favorable for some time with its VORTECS™ Score turning dark green and registering a score of 80 on June 27, just four hours before the price increased 30% from $6.47 to $8.45 over the next two days. SUSHI's price is now up 42% from its swing-low price of $3.96, which occurred on June 22.

PancakeSwap (CAKE)

Data from Cointelegraph Markets Pro also signaled a bullish VORTECS™ Score for PancakeSwap (CAKE), a Binance Smart Chain-based automated market maker and decentralized exchange. The VORTECS™ Score for CAKE has been in the green for the majority of the past week, with a score of 72 registering on June 27, roughly five hours before its price began to rally 21% from $11.83 to $14.44 over the next two days. CAKE's price is now up 50% from its swing-low price of $9.64, which also occurred on June 22.

Bitcoin breaks above $36,000

The strength seen across the altcoin market the past two days is in large part thanks to the strong performance of Bitcoin, which finally pushed above the $35,000 resistance and currently trades at $36,400. Data from Cointelegraph Markets Pro and TradingView shows that after trading in a range between $35,300 and $33,850 on Monday, the price of Bitcoin climbed 6.65% on Tuesday from a low of $34,200 to an intraday high at $36,509.

Traders have now set their sights on the $41,000 resistance level as the next obstacle to overcome in the short term. The overall cryptocurrency market cap now stands at $1.48 trillion and Bitcoin’s dominance rate is 46.1%.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 59.2% 88 $19 108.68 -0.12% -10.44% $364 683 630 223 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 54% 93 $1 051.12 -1.09% -14.27% $127 610 536 230 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.6% 1 $0.999042 0% -0.04% $66 018 262 534 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 95.6% 1 $1.000039 -0.01% 0% $55 804 793 378 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 65.2% 75 $216.74 -0.87% -9.37% $35 388 059 426 BNB 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 92.4% 1 $1.001586 0.07% 0.28% $17 575 061 690 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 68% 69 $0.317499 1.53% -12.57% $15 348 864 758 XRP 7 days price change
8 Cardano (ADA) ADA Cardano predictions 66.8% 72 $0.448366 -0.36% -10.65% $15 214 866 694 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 68% 70 $32.77 -0.23% -19.15% $11 253 894 583 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 66.8% 62 $0.066138 0.06% -13.89% $8 774 635 420 DOGE 7 days price change
11 Dai (DAI) DAI Dai predictions 94.8% 1 $1.000043 -0.04% 0% $6 895 987 122 DAI 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 68% 67 $6.72 -0.01% -16.62% $6 636 204 716 DOT 7 days price change
13 TRON (TRX) TRX TRON predictions 66% 74 $0.065733 3.58% -3.47% $6 079 571 196 TRX 7 days price change
14 UNUS SED LEO (LEO) LEO UNUS SED LEO predictions 73.6% 54 $5.87 2.64% -0.14% $5 604 429 157 LEO 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 71.2% 63 $0.000010 0.62% -13.36% $5 523 555 766 SHIB 7 days price change

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