Bitcoin (BTC) has registered notable gains in the past twelve months fueled by heightened demand from institutional investors. However, several cryptocurrency analysts suggest that the flagship coin has reached a crucial psychological resistance level of around $49k. As a result, Bitcoin price will likely consolidate in the range above $31k and $49k until after the fourth halving in April.

Meanwhile, crypto cash rotation continues to accelerate as more short-term Bitcoin holders take profit to diversify into the altcoin market. Moreover, the ETH/BTC had a solid rebound last week with its weekly Relative Strength Index (RSI) closing above the 50 level for the first time in more than six months.

I'll be posting the following #Altcoins today:

– $BRN
– $VRA
– $LINK
– $ATOM

Enjoy!
— Michaël van de Poppe (@CryptoMichNL) January 14, 2024

According to the popular crypto analyst Michaël van de Poppe based in Amsterdam, Netherlands, the altcoin market will heavily reap the benefits of last week’s spot Bitcoin ETF approvals in the United States. As a result, Poppe has analyzed the top four altcoins that he believes will likely break out in a bullish outlook in the near term.

BRN Metaverse

According to Poppe, BRN Metaverse, a project that aims to connect the metaverse with the real world using technology and a token-based ecosystem, has formed a solid support range between 28 cents and 39 cents. If the BRN bulls manage to defend the support range, Poppe has issued a short-term target of around 90 cents in the near term.

Cosmos (ATOM)

Request 02 – $ATOM

There are still ecosystems ready to make that upwards move, of which $ATOM and $DOT are two.$ATOM needs to hold above $8-9 and then, likelihood that we'll be breaking those previous highs and run to $25. pic.twitter.com/2MPw93JpFG
— Michaël van de Poppe (@CryptoMichNL) January 14, 2024

Amid the rising need for secure and scalable inter-blockchain connectivity, Cosmos (ATOM) has emerged as the top contender in the sector. As a result, Poppe has issued a short-term price target of around $25 if the bulls hold the support range between $8 and $9.

Chainlink (LINK)

Following the bullish breakout recorded in the fourth quarter of 2023, Chainlink’s (LINK) price has been on a rising trend to date. The mid-cap altcoin has seen its ecosystem grow throughout the crypto bear market, thus Poppe believes more Bitcoin investors will buy LINK in the coming weeks.

Verasity (VRA)

Request 04 – $VRA

Lagging behind, but found the crucial area of support.

Needs to break through $0.006 and then, likely, we'll be going for new highs. pic.twitter.com/3xA03sKmTU
— Michaël van de Poppe (@CryptoMichNL) January 14, 2024

As for Verasity (VRA), an open-ledger ecosystem designed to democratize the online content industry, Poppe is confident it will reach a new yearly high if it breaks through the resistance level around $0.006.

Read the article at Coinpedia