Top Altcoins Heading for ATH Breakouts in the Coming Week
The post Top Altcoins Heading for ATH Breakouts in the Coming Week appeared first on Coinpedia Fintech News
With Bitcoin crossing above $91,000, the rising risk appetite of crypto investors teases a bull run in altcoins. Amid the increasing demand, many have hit a new 52-week high with the reversal rally gaining momentum.
Will the increasing bullish momentum in altcoins result in a new all-time high for a few altcoins? Are you wondering the same? Worry not. We bring a list of the top three altcoins of high potential to reach new all-time high levels in the coming week.
So, let’s take a closer look at the price action analysis of these potential altcoins.
Top Altcoins With a New All-time High Potential:
Jupiter (JUP)
With a market cap of $1.5 billion, the Jupiter token is currently trading at $1.13. Over the past 24 hours, the altcoin has increased by 5.25% and is currently at a discount of 45% from its all-time high level of $2.04.
Over the last 30 days, it has increased by 35%, revealing a bullish trend in action. In the daily chart, the Jupiter price action shows a triangle breakout rally gaining momentum. This has led to a higher high formation in the daily price trend and a reclamation of the 50% Fibonacci level at the $1.00 psychological mark.
The bullish surge has resulted in a positive crossover between the 50-day and 200-day SMA line. This marks a golden crossover and increases the uptrend continuation chances.
Currently, with a bullish engulfing candle, the JUP price action shows a poor status reversal from the $1.00 mark. Further, the bull run is struggling to reduce the 61.8% Fibonacci level at $1.20.
However, as a rising DEX over the Solana network, Jupiter shows massive momentum. The Fibonacci levels being the upside target at $2.26 and $3.16 at $1.272 and $1.618 levels.
Will the Jupiter (JUP) price cross $5? Find out now in the latest JUP price prediction by Coinpedia.
Pendle (PENDLE)
In the market cap of $867 million, the PENDLE token PENDLE token is trading at $5.30. Over the last 30 days, it has increased by 26.80% and is trading at a 30% discount from its all-time high level of $7.5171.
In the daily chart, the PENDLE price action reveals Triangle Breakout Rally ends in closer to a new all-time high level. Despite facing resistance from a short-term overhead resistance trend line, the bullish trend forms a rising wedge pattern.
With a 2.28% jump last night, the bullish trend is now challenging the 78.60% Fibonacci level at $5.4498. A bullish breakout of the overhead resistance trend line will likely result in a high-momentum rally crossing above the current all-time high level.
Supporting the bull run chances, the golden crossover in the SMA lines marks a dynamic shift in the underlying sentiments. Based on the Fibonacci levels, the upside target for a bullish continuation above the current high level is $9.57 and $14.30.
Jito Finance (JTO)
Currently, it is trading at a discount of 47.69% from its all-time high level of $5.28. Since the all-time high formation, the bullish failure to end the lower-high trend formation led to a resistance trendline.
The recent reversal from the $1.86 mark has resulted in a breakout rally, reaching the 50% Fibonacci level at $3.15. However, the DeFi token now retests the 38.20% Fibonacci level and the 200-day SMA line with a quick reversal.
As the 50-day and 100-day SMA line give a positive crossover, the chances of a post-retest reversal for JTO token have significantly increased. Considering the trend-based Fibonacci levels, a new all-time high in JTO finance will find the price target at $7.00 and $10.20. These price targets are derived from the 1.272 and 1.618 Fibonacci levels.
FAQs
The 78.6% Fibonacci level at $5.4498 is a critical resistance, with a breakout potentially leading to new highs.
Fibonacci targets suggest JTO could reach $7.00 (1.272 level) and $10.20 (1.618 level) after a post-retest rally.
What are the key technical levels for Jupiter (JUP)?
The $1.00 psychological mark (50% Fibonacci) acts as support, while resistance lies at $1.20 (61.8% Fibonacci level).
