Top Altcoins Heading for ATH Breakouts in the Coming Week
As Bitcoin tops $91,000, rising risk appetite among cryptocurrency investors heralds a bull run for altcoins. Amid growing demand, many stocks hit new 52-week highs and reverse rallies gained momentum.
Will the growing bullish momentum in altcoins lead to some altcoins hitting all-time highs? Do you also have the same question? Don’t worry. We have compiled a list of the top three altcoins with the greatest potential to reach new all-time highs in the coming week.
So, let’s take a closer look at the price action analysis of these potential altcoins.
Top altcoins with all-time high potential:
Jupiter(JUP)
Jupiter token has a market capitalization of $1.5 billion and is currently trading at $1.13. The altcoin has gained 5.25% in the past 24 hours and is currently trading at a 45% discount from its all-time high of $2.04.
It has increased by 35% in the past 30 days, showing a bullish trend. On the daily chart, Jupiter price action shows a triangle breakout rally gaining momentum. This resulted in the daily price trend forming higher highs and reclaiming the 50% Fibonacci level of the psychological $1.00 barrier.
The bullish surge resulted in a positive crossover between the 50-day moving average and the 200-day moving average. This marks a golden cross and increases the chances of the uptrend continuing.
Currently, the JUP price action is showing a reversal from the bad form of the $1.00 mark amid a bullish engulfing candle. Furthermore, the bulls are struggling to break the 61.8% Fibonacci level down to $1.20.
However, Jupiter is showing tremendous momentum as a growing DEX on the Solana network. Fibonacci levels are the upside targets at $2.26 and $3.16, or the $1.272 and $1.618 levels.
Will Jupiter (JUP) Price Break Above $5? Get the latest news now JUP Price Forecast Provided by Coinpedia.
PENDLE
The market capitalization of PENDLE token is $867 million, and PENDLE token is trading at $5.30. It has gained 26.80% over the past 30 days and is currently trading at a 30% discount to its all-time high of $7.5171.
On the daily chart, PENDLE price action shows a triangle breakout rally approaching new all-time highs. The bullish trend has formed a rising wedge pattern despite facing resistance from the short-term overhead resistance trendline.
Up 2.28% last night, the bullish trend is currently challenging the 78.60% Fibonacci level at $5.4498. A bullish breakout of the overhead resistance trendline could lead to a high-momentum rally above the current all-time highs.
A golden cross of the moving averages signals a dynamic shift in underlying sentiment, supporting bull market opportunities. Based on Fibonacci levels, bullish extension above current highs has upside targets at $9.57 and $14.30.
JTO Financial (JTO)
It is currently trading at a 47.69% discount from its all-time high of $5.28. Since the all-time highs formed, the bullish failure to end the trend formation of lower highs has resulted in a resistance trend line.
The recent reversal from the $1.86 mark led to a breakout rally to the 50% Fibonacci level of $3.15. However, the DeFi token is now reversing quickly to retest the 38.20% Fibonacci level and the 200-day moving average.
Due to the positive crossover between the 50-day and 100-day SMA lines, the likelihood of a reversal for the JTO token after a retest has increased significantly. Taking into account trend-based Fibonacci levels, a new all-time high for JTO Financial would find price targets of $7.00 and $10.20. These price targets are derived from the 1.272 and 1.618 Fibonacci levels.
FAQ
The 78.6% Fibonacci level at $5.4498 is a key resistance level, a breakout of which could lead to new highs.
Fibonacci targets suggest that JTO could reach $7.00 (1.272 level) and $10.20 (1.618 level) following a retest of the post-retest bounce.
What are the key technical levels of Jupiter (JUP)?
The psychological level of $1.00 (50% Fibonacci level) serves as support, while resistance lies at $1.20 (61.8% Fibonacci level).
