These 4 altcoins could soar as Bitcoin approaches $120,000.

Bitcoin (BTC) continues to show strength as it breaks above the $118,800 mark on Friday, indicating strong buying inflows from the bulls and a wave of short position closures from the bears. According to data from CoinGlass, on Thursday alone, short orders worth about 570 million USD were liquidated — a clear testament to the buying pressure (short squeeze) in the market.

Another positive signal comes from the traditional financial market: Bitcoin ETFs in the US have recorded the second-largest inflow in history, with a value of up to 1.17 billion USD on Thursday, according to data from Farside Investors. This indicates a growing confidence from institutional investors in the long-term growth potential of Bitcoin.

Market analyst Axel Adler Jr stated on the X platform that, based on the MVRV index — the ratio between market value and the actual value of Bitcoin — the distribution level in previous cycles usually begins when this index reaches the threshold of 2.75. If history repeats itself, this figure corresponds to a price of about $130,900 for BTC.

So will Bitcoin continue to maintain its upward momentum, while also providing leverage for some altcoins to surge afterwards? Let's analyze the technical charts of the five cryptocurrencies that are currently attracting the most attention.

Technical Analysis of BTC

BTC has completed an inverted head and shoulders pattern with bullish characteristics after breaking through the neckline ( on Thursday.

![4-altcoin-nay])https://img-cdn.gateio.im/webp-social/moments-6554f17d98d26432cf7aa656e6321789.webp(BTC/USDT Daily Chart | Source: TradingViewTypically, after the price breaks above the pattern, it will retrace to test the breakout zone. If the BTC/USDT pair bounces from the neckline, it confirms that the bulls have turned this area into support – increasing the likelihood of a continued uptrend with the pattern's target reaching $150,000.

The first sign of weakness will be when the price breaks and closes below the neckline – signaling profit-taking at the high price range. The bears need to pull the price down below the 50-day simple moving average )SMA( at $106.981 to regain the advantage.

![])https://img-cdn.gateio.im/webp-social/moments-3dfae92efae09efebc30eb9360d2eb50.webp(BTC/USDT chart 4-hour | Source: TradingViewCurrently, the price has strongly bounced from the $110.530 zone and broke above the neckline. This uptrend has pushed the relative strength index )RSI( on the 4-hour frame into the overbought area – increasing the likelihood of a short-term correction or accumulation. If the price maintains above the neckline, the uptrend could continue to the $123,000 zone.

However, this positive scenario will be invalidated if the price drops sharply and breaks through the support level of $110,530 in the near future.

Technical Analysis of ETH

Ethereum )ETH( has surged strongly from the 20-day EMA )$2,613( on Tuesday and surpassed the resistance zone $2,879 on Thursday.

![4-altcoin-nay])https://img-cdn.gateio.im/webp-social/moments-e476fd011f48a5e699702fc392a8046a.webp(ETH/USDT daily chart | Source: TradingViewThe 20-day EMA is trending upwards, along with the RSI indicator in the overbought zone, indicating that the bulls are in control. Although there is minor resistance at the $3,153 level, if this level is broken, the ETH/USDT pair could continue to climb to $3,400, and even $3,750.

On the contrary, the first support is $2.879, followed by $2.733. If the bears pull the price below $2.733, they could trap the aggressive bulls. However, before that happens, small pullbacks are still seen as buying opportunities.

![4-altcoin-nay])https://img-cdn.gateio.im/webp-social/moments-10a353022e58b320dd141c99a69af116.webp(ETH/USDT chart 4-hour | Source: TradingViewOn the 4-hour chart, the RSI has also fallen into the overbought zone – indicating the possibility of a correction or short-term accumulation. If the price corrects to $2,879 and bounces back strongly, it shows that the bulls are trying to turn this area into support – increasing the prospects for maintaining the upward momentum.

On the contrary, if the price drops below $2.879, short-term investors may start to take profits, causing the price to slide back to the 20-day EMA.

Technical Analysis of HYPE

Hyperliquid )HYPE( has surged from the 50-day SMA )$37,66( on Tuesday and accelerated after surpassing the 20-day EMA )$39,69(.

![4-altcoin-nay])https://img-cdn.gateio.im/webp-social/moments-5a73fb0c7034458a632a5e9820cc8edd.webp(HYPE/USDT daily chart | Source: TradingViewThe 20-day EMA is trending upwards, along with the RSI close to the overbought zone – indicating that the bullish trend is prevailing. If the bulls maintain the price above $45.80, the head and shoulders pattern will be invalidated. When a bearish pattern fails, it is a strong bullish signal – potentially pushing the price up to $50, even $60.

The bears need to pull the price below the 50-day SMA to disrupt the upward momentum. In that case, the HYPE/USDT pair could drop significantly to the $30.70 area.

![4-altcoin-nay])https://img-cdn.gateio.im/webp-social/moments-887e3b931217aed35a268ecc7baa1f46.webp(HYPE/USDT chart 4-hour | Source: TradingViewCurrently, there is a fierce struggle between the bulls and bears at the level of $45.80. If the price drops, the nearest support areas are the Fibonacci level of 38.2% at $42.83, followed by the 20-day EMA line. If the price bounces strongly from the 20-day EMA line, the likelihood of breaking above $46.46 will increase. At that point, the price could surge to $50.

On the contrary, if the price breaks and closes below the 20-day EMA, it indicates that the bulls are taking profits – causing the currency pair to potentially drop to the 50-day SMA, and then continue down to the $37 mark.

Technical Analysis of UNI

Uniswap )UNI( is currently forming a series of higher highs and higher lows, signaling the potential for a trend reversal.

![])https://img-cdn.gateio.im/webp-social/moments-341cced530657c49775208d49cf865ee.webp(Daily chart of UNI/USDT | Source: TradingViewBoth moving averages are trending upwards, while the RSI indicator is in the positive zone, indicating that the bulls are in control. Despite resistance at the $8.64 mark, if the closing price surpasses this threshold, the rally could extend to $10.36. The bears will likely attempt to halt the upward momentum at $10.36, but if the bulls can prevent the price from falling below $8.64 during the correction, the UNI/USDT pair could very well surge to $13.

However, this optimistic view will be invalidated in the short term if the price reverses and breaks through the 50-day moving average )SMA(, which is currently at $7.

![4-altcoin-nay])https://img-cdn.gateio.im/webp-social/moments-c0707559cefb4deba0924b8411a24c07.webp(The UNI/USDT chart on the 4-hour timeframe | Source: TradingViewThe UNI/USDT pair has broken through the resistance level of $8.64, indicating that the uptrend is continuing. If the price remains above $8.64, this currency pair may strongly break up to the $10 area.

However, the bears may have other plans. They will try to pull the price below the breakout level of $8.64. If successful, the price could slide back to the 20-day EMA. A strong bounce from the 20-day EMA would indicate that buying pressure during the correction is still strong, and the bulls will again attempt to resume the upward trend.

On the contrary, if the price reverses and breaks below the 20-day EMA, the selling momentum may accelerate, pushing the price back towards the 50-day SMA.

Technical Analysis of SEI

Sei )SEI( has surged strongly from the 20-day EMA )$0.26( on Thursday and is currently at the upper resistance level of $0.34.

![])https://img-cdn.gateio.im/webp-social/moments-387bc573fc02a84983508380afb4dd26.webp(Daily SEI/USDT Chart | Source: TradingViewThe 20-day EMA is sloping up along with the RSI indicator in the overbought zone, indicating that the advantage is leaning towards buyers. If the closing price surpasses the resistance zone of $0.34, the next rally could be triggered, pushing the price towards the $0.44 zone.

The nearest support below is at $0.29. If the price turns back from $0.34 but finds support at $0.29, it indicates that positive sentiment is still being maintained. The bulls will once again attempt to push the SEI/USDT pair above the resistance level above. Conversely, to create a clear reversal, the bears must pull the price below the 20-day EMA.

![])https://img-cdn.gateio.im/webp-social/moments-31cc416bfe5431b0b610a1f33bfa3401.webp(SEI/USDT 4-hour chart | Source: TradingViewThe 20-period EMA is sloping upward and the RSI is in the overbought zone, continuing to show an advantage leaning towards the bulls. A close above the resistance area of $0.34 could open up a new bullish phase targeting $0.44.

The nearest support below is $0.29. If the price drops from the $0.34 range but maintains support at $0.29, market sentiment is likely to remain positive. At that point, the bulls will continue to try to push the SEI/USDT pair above resistance. Conversely, the bears need to pull the price below the EMA 20 line to confirm a comeback.

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