Altcoin
Top 3 Altcoins Ready for a Bullish Breakout Soon
Many altcoins saw a significant rebound on Friday, led by Bitcoin (BTC)’s impressive price jump above $66,000. Upbeat regulatory developments in major regions, such as the United States, India, Hong Kong and Europe, have strengthened the positive market sentiment. Additionally, spot Bitcoin ETFs have seen three consecutive days of cash inflows, following a period of notable outflows in recent weeks.
This positive trend has triggered bullish sentiment in several altcoins, with Chainlink (LINK) and meme coins leading the way, suggesting a market rally in the near future.
The best Altcoins to keep an eye on
Referee (ARB)
The Ethereum (ETH) community is eagerly awaiting next week’s decision on VanEck’s spot Ether ETF, which could significantly affect other applicants. Arbitrum (ARB), a leading Ethereum-based layer-two scaling solution, is on the verge of a significant bullish breakout.
Popular crypto analyst Captain Faibik predicts that ARB could rise by at least 50% if it manages to break out of the current falling wedge pattern.
Enjin Coin (ENJ)
Enjin Coin (ENJ) is set to play a crucial role in the mainstream adoption of digital assets through its engaging GameFi web3 projects. With a fully diluted valuation of around $560 million and an average daily trading volume of $22 million, ENJ is up more than 5% over the past week, currently trading at around 31 cents.
Captain Faibik notes that ENJ is gradually exiting a descending wedge pattern, which could lead to a 50% price increase soon.
Injective (INJ)
Injective (INJ), backed by major investors such as Binance, Mark Cuban and Pantera Capital, has grown into a vibrant Web3 ecosystem with a fully diluted valuation of over $2.4 billion and daily trading volume of 91 million dollars.
Crypto analysts, including Captain Faibik, believe that INJ is on the verge of a bullish breakout, which could result in a gain of at least 50%.
Stay tuned for further updates as the altcoin market continues to react to Bitcoin’s momentum.