As Bitcoin surges past the $91,000 mark, a wave of optimism has swept through the cryptocurrency market, sparking interest in altcoins. This renewed enthusiasm suggests a potential bull run for various altcoins. With several altcoins reaching new 52-week highs, the momentum appears to be building. Could this bullish trend lead to new all-time highs for some altcoins? If you’re pondering this, you’re not alone. We’ve curated a list of three altcoins with promising potential to reach new all-time highs in the coming week. Let’s delve into the price analysis of these intriguing altcoins.
Top Altcoins With a New All-Time High Potential
AAVE (AAVE)
The AAVE token has been showcasing an intriguing price trend on the daily chart, forming a rising broadening wedge pattern. Currently trading at $202, it has surpassed a key psychological threshold. Despite facing resistance around the $211.61 mark, AAVE has seen a remarkable 32% increase over the past month. Although it remains 70% below its all-time high of $461, the growing demand in both the altcoin and DeFi sectors bolsters its potential to reach new peaks. For traders, the breakout from the rising broadening wedge pattern could serve as a crucial entry point.
Ethereum Naming Service (ENS)
The ENS token has experienced a phenomenal surge, with a 112% increase this week alone. This has resulted in a strong bullish engulfing candle, defying the predicted crypto winter of 2024-2025. Currently, ENS is trading at $43.14, having surpassed the 50% Fibonacci level at $41.58. While still trading at about half of its all-time high of $84, the token’s robust recovery suggests that the bullish trend may continue. The MACD indicator’s positive crossover further supports this optimistic outlook, hinting at the possibility of surpassing its previous all-time high.
Jito Finance (JTO)
Jito Finance’s JTO token is witnessing a bullish momentum following a breakthrough past a long-standing resistance trendline. Currently trading at $3.7650, the token is maintaining a strong stance above the 50% Fibonacci level. As this bullish trend progresses, a rounding reversal seems poised to push the token beyond its previous all-time high of $5.33. For price action traders, the key level to watch is the 61.80% Fibonacci level breakout at the $4 psychological mark, which could serve as a critical entry point.
FAQs
AAVE’s rising broadening wedge pattern, coupled with the increasing demand in the DeFi sector, signals substantial upside potential for this altcoin.
Currently trading at $43.14, ENS is approximately 50% below its $84 all-time high. However, bullish indicators suggest a continued recovery, potentially leading to new highs.
A breakout above the $4 mark, particularly at the 61.80% Fibonacci level, could propel JTO past its previous all-time high of $5.33.
