Altcoins
Low-Cap Altcoins Set for Explosive Gains
With US Bitcoin ETFs showing strong signs of recovery such as zero outflows and a massive inflow of $295M, the highest in 21 days, the cryptocurrency market is set to recover. While the Bitcoin Price could increase soon, altcoins are rapidly accelerating and recovering this week.
Among the resurgent altcoins, aside from meme coins, small-cap tokens are sharing the spotlight. As the market anticipates a bullish reversal, with buyers holding a low, small-cap tokens are gearing up for a moonshot.
So, let’s take a closer look at today’s top performing altcoins as bull market predictions grow stronger.
Double Bottom Predicts Altcoin ENA Price to Reach $1
Dropping below the $1 billion market cap, Ethena Labs token, ENA, has seen a massive price drop. As the altcoin stalls at $0.35, buyers are gearing up for a recovery rally as the market bounces back.
ENA price is showing a double bottom pattern forming on the 4H chart with a neckline at $0.425. As ENA price jumps 15% from last night, the altcoin is poised for a bullish breakout rally.
Currently, ENA price is trading at $0.413, below the psychological level of $0.50. Based on the Fibonacci retracement levels, the uptrend may find $0.51 and $0.69, which are the 23.60% and 50% retracement levels, as strong resistances.
With optimism, the ENA Price could regain the psychological level of $1 as the overall conditions in the cryptocurrency market improve.
STRK Stock Holders Demonstrate Wedge Breakout Rally
With a clear downtrend on the daily chart, STRK price is down 77% from its peak of $2.63. Below the $1 billion market cap, the altcoin Starknet reveals huge upside potential as the broader market slump comes to a halt.
Forming a wedge pattern, STRK price action reveals a bullish cycle starting inside the pattern. As the altcoin approaches the bottleneck area, the chances of a breakout increase. Furthermore, the bullish crossover in MACD and oversold RSI strengthen the chances of a bullish trend for Starknet.
With an overnight jump of 11%, the altcoin is preparing for a bullish phase with a breakout and a potential reach of $1.50.
Will RON price reversal reach $5?
In a head and shoulders breakdown, RON price is down 56% in four months. Altcoins have fallen to the 61.80% Fibonacci retracement level with a downtrend in technical indicators.
The weekly chart reveals a strong pullback phase, with the MACD and signal lines falling towards the zero line and the RSI near the oversold zone. The intraday growth of 3.39% after the overnight jump of 7.89% teases a bullish return.
The next rally could peak at $4.32, anticipating a new all-time high of $5.
Read also: Crypto News Today: Bitcoin Bounce Is Coming! Key Levels to Watch