Altcoins
Top Altcoins Could Reach All-Time Highs in the Next Week
Despite the price of Bitcoin approaching the $68,000 level, the approval of Ethereum ETFs leads the bull run in altcoins. With this, there are many coins on the verge of surpassing their all-time highs as buying pressure builds.
Will growing demand for altcoins undermine Bitcoin’s dominance and spark an altcoin season? More importantly, which altcoins are close to breaking out of their ATH levels for an explosive run next week?
Don’t worry. We present a list of the best altcoins ready to reach an all-time high in the next week. So, let’s take a closer look at these potential altcoins.
The largest Altcoin Ethereum aims to surpass $4,000
With the recent approval of Ether ETFs, the market expects demand for the largest altcoin to increase dramatically in the coming week. Furthermore, the massive increase in ETH price just days before the approval reflects the huge underlying demand.
On the weekly chart, ETH price increased by 21% this week, forming a bullish engulfing candle. Furthermore, the boom in trading volume supports the upward movement.
Currently, the altcoin is trading at $3,745 and is approaching the $4,000 mark. With a potential increase in demand in the coming week, ETH price could target the trend-based Fibonacci level of 1.618 to $5568.
The largest Altcoin CEX aims for $1000
As the largest centralized cryptocurrency exchange, the BNB token is in strong bullish momentum as the cryptocurrency market grows. The altcoin’s bullish reversal creates a rounded bottom on the weekly chart with a neckline at $662.
A breakout rally in the altcoin will result in a new all-time high level well above the $700 mark. Currently, the price of BNB is trading at $601 and a weekly yield of 4.72% points to a continuation of the trend.
According to Fibonacci levels, the altcoin can reach the $945 mark at the 1,618 Fibonacci level before reaching the $1000 mark.
Ethena (ENA)
With demand for altcoins on the rise, the ENA token witnesses a turnaround as buying pressure increases. The daily chart reflects the altcoin breaking above the descending wedge pattern to give a 38% jump over the last 7 days.
As the breakout rally gains momentum, the altcoin is poised for a bull run. Considering the buyers manage to sustain the momentum, the ENA price could reach the 1.618 Fibonacci level at $2.55.
BONK (BONK)
With a market capitalization of $2.41 billion, BONK’s price action shows a massive increase in momentum in the ongoing recovery rally. As the meme coin approaches the neckline of a rounded bottom pattern at $0.00003613, with an intraday gain of 8.94%.
A bullish reversal could lead to a breakout rally to reach the R5 pivot point at $0.000066 next week. Optimistically, the altcoin’s bull run can reach the $0.00010 mark in Q2 2024.
Kucoin Token (KCS)
Another wave of CEX token names in the cryptocurrency world, the price of KCS tokens is on a bullish recovery this year. With a 166% jump since the reversal at $3.84, the altcoin is gaining momentum and is expected to have an exceptional rally this year.
Following the bearish reversal of the descending trend line, KCS price drops to the 23.60% Fibonacci level at $8.77. However, the sideways move on the daily chart signals a potential uptrend if the broader market jumps.
With higher chances of a breakout, the altcoin could reach the $37 mark at the 1.618 Fibonacci level.