Altcoins
Top Altcoins Poised to Hit ATH in the Week Ahead
With a very volatile month of May, the cryptocurrency market is entering June on a positive note after a monthly jump of 11.29%. Amid such a volatile yet bullish wave, altcoins managed to maintain a positive trend and begin an uptrend in June.
Furthermore, the uptrend is expected to accelerate as upcoming ETFs and the US presidential elections approach, prompting dovish comments. With added momentum and institutional acceptance, some of the top altcoins are poised to reach unprecedented levels in the coming week.
Finding these tokens where the smart money flows becomes a huge and critical task for traders. Do not worry! Based on technical analysis and market sentiments, we bring you a list of top altcoins with high potential about to hit ATH in the coming week.
Render token (RNDR)
Built on the Ethereum blockchain, RNDR is the native token of Render Network, a distributed GPU network targeting artists and studios. THE RNDR price is trading at $10, at a 26% discount from its ATH level of $13.62.
Currently, the altcoin’s price trend is showing a triangle pattern in the daily chart while enjoying dynamic support from the 50D EMA. According to the Fibonacci retracement levels, the RNDR token is stuck between the 23.60% and 38.20% levels.
With the high anticipation of a market recovery in June, the chances of a bullish breakout for the altcoin are increasing. A bullish breakout could push the RNDR token price up to $20.
Dog Hat (WIF)
During the recent market rally, meme coins took center stage and spearheaded the uptrend to reach new highs. Among the top-performing meme coins, Dogwifhat exhibited a bullish breakout of a resistance trendline.
As the small group rally gradually gains momentum, the WIF Price breaks and retests the Fibonacci level based on the 50% trend. Additionally, the altcoin price is holding above the 50D EMA while trading at a 30% discount to its all-time high of $4.85.
Given that the bull run takes off with a successful post-retest jump, the altcoin price could reach the $6.49 mark in June.
Recover.AI (FET)
After meme coins, AI and DeFi sectors are the next trending investment options in the crypto market. In the promising sector of AI, the FET token shows a promising price trend that is ready to explode in June for a massive jump.
With a symmetrical triangle in play, the altcoin is showing a contraction in volatility that could soon result in a quick release of momentum for a sharp move. Currently, the altcoin is trading at a 40% discount from its all-time high of $3.48.
Since the uptrend breaks above the overhead resistance trendline and the 23.60% Fibonacci level, the uptrend could reach $4.689.
With the strong possibility of a market rally in the coming weeks, altcoins could reach a new all-time high next week. According to technical analysis, the above-mentioned tokens are waiting for a bullish breakout for a price rise. Therefore, secondary traders may find lucrative buying opportunities with these tokens in the coming weeks.
Also discover: Will Cardano, XRP and Solana Price See a 5x-10x Rally in the Next 12 Months Ahead of ETF Approval