Top Altcoins Heading for ATH Breakouts in the Coming Week
With Bitcoin breaking above $91,000, increased appetite for crypto investors teases a bull run in altcoins. Amid rising demand, many hit new 52-week highs as the inversion rally intensified.
Will the increasing bullishness in altcoins result in a new all-time high for a few altcoins? Are you thinking the same? do not worry. In the coming week, we will bring you a list of three altcoins that have the highest potential to reach new all-time highs.
So, let's take a closer look at the price action analysis of these potential altcoins.
Top Altcoins With New All-Time High Potential:
Jupiter
With a market cap of $1.5 billion, the Jupiter Token currently sells for $1.13. In the last 24 hours, the altcoin has increased by 5.25% and is currently down 45% from its high of $2.04.
Marketing perspective
Over the past 30 days, it has increased by 35%, indicating a bullish trend in action. On the daily chart, Jupiter's price action shows a triangle breakout movement. This led to the formation of a higher high in the daily price trend and a resumption of the 50% Fibonacci level at the $1.00 psychological mark.
A bullish increase between the 50-day and 200-day SMA lines resulted in a positive crossover. This marks a golden crossing and increases the chances of moving up.
Currently, with a bullish candle, the JUP price action is showing a weak trend above the $1.00 mark. Additionally, a bull run is struggling to lower the 61.8% Fibonacci level at $1.20.
However, increasing as a DEX on the Solana network, Jupiter shows high speed. The Fibonacci retracements are at $2.26 and $3.16 with targets projected at the $1.272 and $1.618 levels.
Will the price of Jupiter (JUP) cross $5? Find the latest JUP price forecast on Coinpedia now.
PENDLE
With a market value of $867 million, the PENDLE token PENDLE token is trading at $5.30. It has gained 26.80% in the last 30 days and is trading 30% off its all-time high of $7.5171.
Marketing perspective
On the daily chart, PENDLE shows a price action triangle breakout rally approaching a new all-time high. Despite resistance from a short-term resistance trend line, a bullish trend forms a rising wedge pattern.
With last night's 2.28% jump, the bullish trend is now testing the 78.60% Fibonacci level at $5.4498. A high breakout of the overhead resistance trend line may trigger a rally higher than the current all-time high.
Supporting the possibilities of a bull run, the golden cross in the SMA lines indicates a volatile change in underlying sentiment. Based on the Fibonacci retracements, bullish continuation targets above the current high are $9.57 and $14.30.
Jeeto Finance (Jeto)
It is currently trading 47.69% off its all-time high of $5.28. From the formation of an all-time high to stop the formation of a low-high trend, a bullish failure resulted in a resistance trend line.
Marketing perspective
A recent reversal from the $1.86 mark led to a 50% Fibonacci level reached at $3.15. However, DeFi Token will now quickly test the 38.20% Fibonacci level and the 200-day SMA line.
As the 50-day and 100-day SMA line gave a positive crossover, the possibility of a reversal for JTO token increased significantly after the test. Considering the trend based Fibonacci levels, JTO Finance finds a new high level price target at $7.00 and $10.20. These price targets are derived from the 1.272 and 1.618 Fibonacci levels.
Questions to be asked
The 78.6% Fibonacci level is critical resistance at $5.4498, a break of which could lead to new highs.
Fibonacci targets suggest that JTO may reach $7.00 (1.272 level) and $10.20 (1.618 level) after a post-test rally.
The $1.00 psychological mark (50% Fibonacci) serves as support, while the resistance is at $1.20 (61.8% Fibonacci level).
