Altcoins
You Should Buy Altcoins That Could Hit New All-Time Highs
With Bitcoin price hovering above $62,000, the cryptocurrency market is looking forward to a bullish week. Amid the shifting sentiments, major large-cap altcoins offer massive upside potential for a new all-time high this week.
Considering the buying opportunities of large-cap altcoins before the bull phase, let’s take a closer look at their price chart.
Best Large Cap Altcoins to Buy This Week: Binance (BNB)
Binance’s native token, BNB, has surged 13.03% over the past seven days and has revealed a series of bullish candles. With the cryptocurrency market on the rise, trading volumes on Binance are expected to increase as it dominates the centralized cryptocurrency market.
On the weekly chart, the recovery rally is shadowed by a bearish engulfing candlestick that dropped 15% in early July. However, the altcoin reclaims the 50% Fibonacci level at $537 and is trading at $557.
As the altcoin rally finds support at the 50W EMA, the continuation of the uptrend could break out above the $800 level.
Solana (SOL)
Known as the Ethereum Killer, the Solana Layer-1 ecosystem’s native token, SOL, is poised for a bull run this recovery week. The SOL price trend is showing a potential double bottom formation at the 50% Fibonacci level, while receiving support from the 50W EMA.
With last week’s 12% jump and 2.97% intraday jump, the chances of a bull run are high this week. If the 61.80% Fibonacci level at $158 is broken, the bull run in this altcoin could reach the $200 mark.
According to Fibonacci levels, SOL price could reach $400, setting a new all-time high this year.
Toncoine (TON)
With a market cap of $18.76 billion, Toncoin is ranked 8th with a 5.25% jump over the past week. As the broader market recovery gains momentum, TON price is poised to take off from the support trend line.
Holding above the 50-day EMA, the altcoin is struggling above the 50% Fibonacci level at $7.48. A breakout rally could trigger the bull run in the altcoin to reach the psychological level of $10.