TON, XLM, XMR and MKR could attract buyers if Bitcoin exceeds $26,500

Bitcoin price remained stable, but TON, XLM, XMR and MKR show signs of bullish momentum.

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Bitcoin (BTC) has been trading in a tight range this week and is about to form the third consecutive Doji candlestick pattern on the weekly chart. Cryptocurrency markets received no support from US equity markets, which ended the week on a negative note. The S&P 500 index fell 1.3% while the Nasdaq closed down 1.9%.

Bitcoin weakness has dragged several altcoins lower, with many testing lows over several weeks. This indicates that the broader crypto market is firmly in the grip of a sharp decline. Negative markets make it difficult for buyers to identify short-term bullish trades as rallies struggle to sustain. However, this could be a good time for long-term investors to build a portfolio.

Daily view of cryptocurrency market data. Source:Coin360

According to a recent Amberdata report, 24% of asset management firms appoint senior executives dedicated to implementing digital strategies. Ultimately, 13% more companies plan to adopt a digital asset strategy. This indicates “the seriousness of the implementation as well as the buy-in from senior management,” the report adds.

Could Bitcoin see a surge, boosting buying interest in altcoins? Let's study the charts of the top five promising cryptocurrencies in the short term.

Bitcoin Price Analysis

Bitcoin has been trading near the $26,000 level in recent days, indicating a struggle between the bulls and bears.

BTC/USDT daily chart. Source: