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<p>The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/short-term-altcoin-surge-whats-driving-the-market-this-month/">Short-Term Altcoin Surge: What’s Driving the Market This Month?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The crypto market has recorded massive growth in value during the past weeks, as Bitcoin price has successfully broken out of its important resistance level at $31,000.</p> 
<p>At the time of publishing, Bitcoin was hovering around $34,800. The star crypto had managed to break out of its major resistance level at $35,000 and further record a high of $36,000.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/ad4uT-OXZ9iJgbZD5wDhVsazdHokxJYjKmkpnz76iN8UcWuSb94huK4G_6FExLXfcmDJ0QYP-KyybANZV2L3MvI1c1coORDOIwGZrlXOT8jwDZr_rFpOVdWvY-NTq8sDvq-7EI0vppUNM8Rxy63h1JE" alt="">
 <figcaption class="wp-element-caption">
  Source: Santiment
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</figure> 
<p>However, the rally was short-lived as the price experienced a significant pullback in its value. If the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">BTC price</a> breaks out of the $35,000 and stays strong, it is expected to run toward its next major resistance zone between $36,500 and $37,000.</p> 
<h2 class="wp-block-heading" id="h-altcoins-outperforming-top-cryptocurrencies-this-week">Altcoins Outperforming Top Cryptocurrencies This Week!</h2> 
<p>Following the market pump, Altcoins have started to gain momentum and cover up for the lost momentum they once had. Many altcoins have recorded a massive surge in their values, with some experiencing returns of over 100% within the past month.</p> 
<p>Status a Mid-cap altcoin has recorded a jump of 108% in the past seven days, making it the best performer in the industry. Followed by Shushiswap with a rise of over 82% and Bluzelle token with a rise of over 39% in the past week.</p> 
<p>The overall market is gaining momentum as each category has been performing. Further, the crypto space recorded a new yearly high for many tokens as major cryptocurrencies have successfully breached their important resistance levels, indicating a strong bullish influence in the market.</p> 
<h2 class="wp-block-heading" id="h-altcoin-season-around-the-corner">Altcoin Season Around The Corner?</h2> 
<p>Considering the present market sentiments into consideration, many analysts and investors predict an altseason to ignite in the coming time, as all the technical sentiments indicate a massive uptrend for these coins.</p> 
<p>If <a href="https://coinpedia.org/information/market-price-prediction-ethereum-2019/">Ethereum price</a> manages to break out of its important resistance level at $1,900 and stay strong, it could attract more investors toward it. Further, if the ETH regains the $2000 mark, this would result in the altcoins gaining massive attention in the market, resulting in a possible altseason rally.</p>

Short-Term Altcoin Surge: What’s Driving the Market This Month?

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