Bitcoin price showed a bearish trend last week, falling from a high of $96,000 to a monthly low of $88,000. Analysts believe that Bitcoin’s recent bearish pullback could be a trigger for an altcoin rally in the coming week. As traders pivot their money into newer altcoins, Solana Mobile Seeker (SKR), Pump.fun, and Official Trump are expected to show bullish momentum this week.
Altcoins are rising while Bitcoin fell 7% last week
Bitcoin has experienced significant bearish volatility over the past seven days. The BTC price fell from a peak of $96,000 to $88,000, with a 7% decline last week. Coinglass data shows that Bitcoin continues to see increasing liquidations, as it has seen over $25 million in total liquidations in 24 hours. Of this, buyers closed almost $24.5 million worth of positions.
Also read: Bitcoin Price Prediction: What Needs to Happen for BTC to Rise to $100,000
Analysts say that while Bitcoin’s decline may not have a major impact on an altcoin rally, it could provide a small boost to newer altcoins this week. As a result, the SKR token, PUMP and TRUMP coins are expected to exhibit a bullish pattern.
Solana Mobile Seeker (SKR) price analysis
The SKR token fell below its moving averages after posting gains of over 200% last week. Although the price peaked above $0.05 after listing on multiple tier-1 exchanges, it later faced a sharp sell-off. At the time of writing, Solana Mobile Seeker is trading at $0.028, down more than 15% in the last 24 hours.
The slowdown in the rise of the moving averages and the RSI hovering around 50 do not show a clear advantage for buyers or sellers. However, SKR’s decline below the EMA20 trendline currently indicates bearish control. If the price remains below the EMA20, sellers could take control, potentially pushing the SKR/USDT pair to the lows of $0.02.
For buyers to regain their strength, the price must rise above $0.035. If that happens, the pair could rise to $0.05.
Pump.fun (PUMP) Price Analysis
Pump.fun finds support around the $0.0024 level, showing that buyers are getting in at lower prices. At the time of writing, PUMP price is trading at $0.0026, up over 5.2% in the last 24 hours.
Any recovery will likely face selling pressure around the falling resistance line. If the price falls sharply from that level, it could increase the chances of falling below the $0.00235 support, with the PUMP/USDT pair possibly sliding towards $0.0017.
On the other hand, a move above the resistance line would indicate a possible comeback by buyers. In that case, Pump.fun price could rise to $0.0033, where strong resistance is expected.
Official Trump (TRUMP) Price Analysis
TRUMP suffered a significant decline last week when it bottomed below the EMA20 trendline. However, this created a strong accumulation around the dip, setting the official Trump coin up for a possible breakout this week. At the time of writing, TRUMP price is trading at $4.88, down more than 0.7% in the last 24 hours.
The price of TRUMP fell sharply on Monday to close below the 20-day EMA, indicating that the TRUMP/USDT pair may have reached a short-term peak. If the weakness continues, the pair could pull back completely and fall to around $4.4-$4.1.
Buyers face a tough challenge. Any short-term rebound will likely be met with selling pressure near the 20-day EMA. However, currently, buyers are piling in and preparing TRUMP price to break the consolidation above $5. A close above $5 would be a sign of buyers regaining control, pushing the price towards $5.7.
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