Altcoin rally led by ETH, BNB, AVAX, PENGU likely if Bitcoin range break occurs

Key Points

1. Bitcoin has failed to break above $120,000, but positive signs include net inflows into BTC ETFs and hedge fund manager Ray Dalio's suggestion of a 15% BTC or gold allocation for optimal risk-return ratio.

2. ETH could challenge $4,094 if it breaks above $3,941, with strong support at $3,745; a break below $3,500 could lead to a deeper correction.

3. BNB may rally to $900 if it breaks above $861, with critical support at $794; a break below $761 could signal further decline.

4. AVAX is consolidating between $15.27 and $27.38; a break above $27.38 could start a new uptrend, while a break below the 20-day SMA ($23.52) could extend the consolidation.

5. PENGU could rise to $0.054 if it breaks above $0.046, with key support at $0.035; a break below $0.035 could lead to a decline to $0.028.