Despite the Bitcoin price struggling near the $68,000 level, the approval of Ethereum ETFs drives the bull run in altcoins. With this, there are multiple coins on the verge of crossing past their all-time high levels as the buying pressure grows.
Will the rising demand for altcoin undermine Bitcoin’s dominance and start an altcoin season? More importantly, which altcoins are close to surpassing their ATH levels for an explosive run next week?
Worry not. We bring a list of top altcoins poised to hit an all-time high in the coming week. So, let’s take a closer look at these potential altcoins.
Biggest Altcoin Ethereum Aims To Surpass $4000
With the recent approval of the Ether ETFs, the market anticipates the demand for the biggest altcoin to surge incredibly in the coming week. Furthermore, the massive surge in the ETH price days before the approval reflects the massive underlying demand.
In the weekly chart, the ETH price has jumped by 21% this week to make a bullish engulfing candle. Furthermore, the boom in trading volume supports the upside move.
Currently, the altcoin trades at $3,745 and approaches the $4K mark. With a potential rise in demand in the coming week, the ETH price could aim for the 1.618 trend-based Fibonacci level at $5568.
Biggest CEX Altcoin Eyes $1000
As the biggest centralized crypto exchange, the BNB token is on a high momentum uptrend as the crypto market grows. The bullish reversal in the altcoin creates a rounding bottom in the weekly chart with a neckline at $662.
A breakout rally in the altcoin will result in a new all-time high level well above the $700 mark. Currently, the BNB price trades at $601 and a weekly return of 4.72% teasing a trend continuation.
As per the Fibonacci levels, the altcoin can reach the $945 mark at the 1.618 Fibonacci level before reaching the $1000 mark.
Ethena (ENA)
With the altcoin demand on the rise, the ENA token witnesses a trend reversal as the buying pressure increases. The daily chart reflects the altcoin breaking above the falling wedge pattern to give a 38% jump in the last 7 days.
As the breakout rally gains momentum, the altcoin is ready for a bull run. Considering the buyers manage to sustain the momentum, the ENA price could hit the 1.618 Fibonacci level at $2.55.
BONK (BONK)
With a $2.41 billion market cap, the BONK price trend shows a massive surge in momentum in the ongoing recovery rally. As the meme coin approaches the neckline of a rounding bottom pattern at $0.00003613 with an intraday gain of 8.94%.
A bullish reversal might lead to a breakout rally to reach the R5 pivot point at $0.000066 next week. Optimistically, the bull run in the altcoin can reach the $0.00010 mark in Q2 2024.
Kucoin Token (KCS)
Another CEX token naming wave in the crypto world, the KCS token price is on a bullish recovery this year. With a 166% jump from the reversal at $3.84, the altcoin is gaining momentum and eyes a breakout rally this year.
Following the bearish reversal from the descending trendline, the KCS price drops to the 23.60% Fibonacci level at $8.77. However, the sideways shift in the daily chart signals a potential uptrend if the broader market jumps.
With increased breakout chances, the altcoin could reach the $37 mark at the 1.618 Fibonacci level.