Altcoins
Top Altcoins Could Hit ATH in the Week Ahead
Although Bitcoin price is nearing the $68,000 level, the approval of Ethereum ETFs is driving altcoins higher. With this, several coins are poised to surpass their all-time highs as buying pressure increases.
Will the growing demand for altcoin undermine Bitcoin’s dominance and kick off an altcoin season? More importantly, which altcoins are poised to surpass their ATH levels for an explosive run next week?
Do not worry. We bring you a list of the top altcoins poised to hit an all-time high in the coming week. So let’s take a closer look at these potential altcoins.
Largest Altcoin Ethereum aims to surpass $4,000
With the recent approval of Ether ETFs, the market is expecting an incredible increase in demand for the largest altcoin in the coming week. Additionally, the massive rise in ETH price days before approval reflects the huge underlying demand.
In the weekly chart, ETH price surged 21% this week to form a bullish engulfing candle. Additionally, the surge 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 1.618 at $5,568.
Biggest Altcoin CEX eyes $1,000
As the largest centralized crypto exchange, the BNB token is seeing a strong upward trend as the crypto market grows. The altcoin’s bullish reversal creates a rounded bottom in the weekly chart with a neckline at $662.
An altcoin rally will result in a new all-time high well above the $700 mark. Currently, the BNB price is trading at $601 and a weekly yield of 4.72%, suggesting a continuation of the trend.
According to the Fibonacci levels, the altcoin can reach the $945 mark at the 1.618 Fibonacci level before reaching the $1,000 mark.
Ethena (ENA)
With the growing demand for altcoins, the ENA token is experiencing a trend reversal as buying pressure increases. The daily chart reflects the altcoin surpassing the descending wedge pattern to give a 38% jump in the last 7 days.
As the rally gains momentum, the altcoin is poised for a bull run. Since buyers manage to maintain the momentum, 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 trend shows massive 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 rally to reach the R5 pivot point at $0.000066 next week. With some optimism, the altcoin’s rise could reach the $0.00010 mark in Q2 2024.
Kucoin Token (KCS)
Another wave of CEX token denominations in the crypto world, the KCS token price is on a bullish recovery this year. With a 166% jump from the reversal to $3.84, the altcoin is gaining momentum and eyeing a breakout rally this year.
Following the bearish reversal of the descending trendline, KCS price falls to the 23.60% Fibonacci level at $8.77. However, the sideways movement of the daily chart signals a potential upward trend if the broader market jumps.
With increased breakout chances, the altcoin could reach the $37 mark at the 1.618 Fibonacci level.