The cryptocurrency market is currently consolidating following a significant rally at the beginning of this week, driven largely by Bitcoin’s strong performance. Bitcoin recently surged above the $94,000 mark before easing back somewhat, trading around $93,000 on Thursday. This retracement has created new support zones critical to the next phase of Bitcoin price action. Specifically, the key support areas identified sit between $88,465 and $91,935, and further down between $85,230 and $87,076. Sustained daily closes below these levels would likely intensify bearish sentiment and could signal a deeper market downturn.
As Bitcoin shifts into consolidation, analysts point out three altcoins—Dogecoin (DOGE), Solana (SOL), and Ondo (ONDO)—as promising alternatives poised to potentially benefit from any forthcoming altcoin rally. Several factors contribute to this outlook, including ongoing geopolitical developments, most notably U.S. President Donald Trump’s easing stance on international tariffs, and Bitcoin’s attempt to regain its status as “digital gold.”
Dogecoin, trading earlier on Thursday around $0.18047, finds itself positioned favorably for a potential breakout. Technical indicators, including the Relative Strength Index (RSI) sitting at 59 and a positive divergence as per the Moving Average Convergence Divergence (MACD), suggest underlying strength. Analysts forecast Dogecoin could soon rise approximately 20%, reaching a significant resistance level near $0.21465. Should DOGE successfully breach and sustain trading above this resistance level, it could underpin a stronger rally in the short-term.
Solana is similarly well-positioned amid the consolidation, with technical indicators signaling strength. Its RSI rose to 64, indicating a warm market sentiment not yet reaching overheated levels, while MACD patterns suggest bullish momentum is building. The next critical test for SOL would be the resistance at $180, about an 18% upswing from current prices. Overcoming and holding this level would confirm that Solana is transitioning from consolidation into sustained upward movement. Conversely, a substantial support area rests around the $125 price level.
Ondo (ONDO) also appears situated for positive price action. This asset is moving toward breaking its current consolidation formation, with a critical resistance at approximately $0.98. If ONDO manages to close a daily candlestick above this area convincingly, analysts anticipate an advance up to resistance levels at $1.0667 and possibly as far as $1.1895, representing a gain potential of approximately 21%. On the downside, support is well-established at $0.8174.
Market observers agree that Bitcoin’s explosive initial growth may see a more restrained upside going forward, paving the way instead for altcoins. Market flows support this hypothesis; the latest data indicates robust inflows into digital asset ETFs totaling around $1 billion recently, underlining growing institutional adoption. Simultaneously, Bitcoin dominance has shown signs of potential cooling, which is a common precursor to broader altcoin performance improvement.
Further reinforcing the case for altcoins is the increasing viewpoint across market participants anticipating a rise in crypto adoption over the coming period. Ethereum’s recent surge in network engagement, marked by a growth of 1.83 million new users within a single week, signifies renewed enthusiasm among investors—a trend from which Dogecoin, Solana, and Ondo could each substantially benefit due to their varying appeal within the ecosystem.
While the industry outlook remains cautiously optimistic given persistent macroeconomic uncertainties—such as tariff wars and inflation risks highlighted by the Federal Reserve—analysts highlight strong institutional and “whale” accumulation patterns, which could dampen downward pressures.
Overall, market consensus suggests that in the near term, amidst Bitcoin’s current positioning, Dogecoin, Solana, and Ondo represent compelling altcoin opportunities that investors should closely watch.
