Altcoin
The best Altcoins are ready to reach an all-time high in the next week
With a highly volatile month of May, the cryptocurrency market enters June on a positive note after a monthly jump of 11.29%. Amidst such a volatile yet bullish wave, altcoins managed to sustain a positive trend and initiate a bullish trend in June.
Furthermore, the bull run is expected to gain momentum as the upcoming ETFs and US presidential elections approach, prompting dovish comments. With further momentum and institutional acceptance, some major altcoins are poised to reach all-time highs in the coming week.
Finding these tokens where smart money flows becomes a huge and crucial task for traders. Don’t worry! Based on technical analysis and market sentiments, we provide you with a list of top high-potential altcoins ready to hit the 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 aimed at artists and studios. THE RNDR price is trading at $10, a 26% discount to its ATH level of $13.62.
Currently, the price trend of the altcoin shows a triangle pattern on the daily chart while receiving dynamic support from the 50D EMA. According to the Fibonacci retracement levels, the RNDR token is trapped between the 23.60% and 38.20% levels.
With the strong prediction of a broader market recovery in June, the chances of a bullish breakout of the altcoin increase. A bullish breakout could push the RNDR token price to reach $20.
Dogwifhat (WIF)
In the recent bull market run, meme coins have taken the limelight and led the bullish trend to reach new heights. Among the top-performing meme coins, Dogwifhat showed a bullish breakout of a resistance trendline.
With the breakout rally gradually gaining momentum, the WIF price breaks and retests the 50% trend-based Fibonacci level. Furthermore, the altcoin price is holding above the 50D EMA while trading at a 30% discount from its all-time high of $4.85.
Considering the bull run takes off with a post-retest success, 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 cryptocurrency market. In the promising field of artificial intelligence, the FET token shows a promising price trend ready to explode in June for a massive leap.
With a symmetrical triangle in play, the altcoin exhibits 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.
Considering the bull run breaks above the upper resistance trend line and the 23.60% Fibonacci level, the uptrend could reach $4.689.
With the high possibility of a bull run in the market 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 break for a price jump. Therefore, collateral traders can find profitable buying opportunities with these tokens in the coming weeks.
Also check: Will Cardano, XRP, Solana Price See 5x-10x Rally Over Next 12 Months Ahead of ETF Approval