With Bitcoin marking a new peak at $71,700, the cryptocurrency market has observed an increase in investor confidence. This rise has had a positive influence on alternative cryptocurrencies, causing them to turn bullish. Stakeholders involved in Shiba Inu (SHIB), Cardano (ADA), and Avalanche (AVAX) now have specific price goals in sight given the recent market dynamics. The succeeding analysis sheds light on the potential effects of Bitcoin's upswing on these distinct cryptocurrencies.

Shiba Inu (SHIB): Predictions Ahead

SHIB experienced a dip below its support threshold on June 4 but recovered owing to bullish activity triggered by surging Bitcoin values. This recovery resulted in a 6% price surge within a 24-hour span. Presently, investors are aiming to surpass the $0.000030 resistance level. An ascending triangle pattern suggests a robust breakout could propel the price to $0.000039, encountering minor hurdles at $0.000033. On the contrary, a failure to sustain support levels could lead to a drop in prices to $0.000018.

Cardano (ADA): The Next Move

ADA recently tested its support base, with bull investors holding their stance predominantly due to Bitcoin's fluctuations. A consistent surge above moving averages could project ADA towards a resistance area, targeting $0.62 with the current valuation hovering around $0.462. However, a breach below the symmetrical triangle might push prices down to $0.35.

Key Market Insights

Here are critical observations for investors:

• The surge of Bitcoin to $71,700 has sparked optimism across the investor community.
• SHIB's potential breakout might aim for $0.000039, with crucial underlying support at $0.000018.
• ADA's movement above moving averages could strive for the $0.62 target.
• The stable pricing of AVAX around $36 indicates a balance between supply and demand, with potential fluctuations dependent on market circumstances.

Conclusion

As Bitcoin maintains its position above $71,000, alternative cryptocurrencies like SHIB, ADA, and AVAX are witnessing a resurgence in investor attention. The future market trajectory will rely on whether these altcoins can surpass their resistance barriers or dip below their support thresholds, resulting in substantial price variations.