Forecast for the Crypto Market Three Leading Altcoins Poised for Imminent Breakout
Key Points
– Altcoins are on the rise despite Bitcoin’s struggles.
– Whale activity in Cardano, Shiba Inu, and JasmyCoin has surged, indicating potential price increases.
– Technical indicators show bullish breakout potential for Cardano, Shiba Inu, and JasmyCoin.
As Bitcoin continues to face price stagnation around $72k, alternative cryptocurrencies, known as altcoins, are taking center stage. BNB, the native coin of Binance, has seen a remarkable surge, surpassing $700.
This bullish sentiment is not limited to BNB, as the entire altcoin market is experiencing a wave of positive momentum. Could this mark the beginning of a significant altcoin rally? Discover which altcoins whales are accumulating and why you should pay attention to this potential opportunity.
Bitcoin Boosting Altcoins?
Despite Bitcoin’s struggles, renewed interest from institutional investors has inadvertently benefited altcoins. The influx of funds into US-based spot BTC ETFs is injecting optimism and liquidity into the altcoin market, showcasing growing confidence in the resilience of the crypto industry beyond the current bull cycle.
#Cardano, #ShibaInu, and #Jasmy are all seeing surges in price, potentially triggered by increased whale activity. The number of transactions exceeding $100k on these networks has more than doubled compared to the usual averages, indicating accumulation.
Insights from Santiment show a significant increase in whale activity for major altcoins like Cardano (ADA), Shiba Inu (SHIB), and JasmyCoin (JASMY) this week. The surge in large transactions suggests growing accumulation and investor interest.
Promising Altcoins to Watch
Cardano (ADA): Building Momentum
Cardano has maintained a steady trajectory within a megaphone structure since its breakout last year, showing resilience in the face of market fluctuations. With a fully diluted valuation of approximately $20 billion, ADA has found stability above 43 cents and the 50-week Moving Average (MA), setting the stage for potential bullish movements against the US dollar.
Shiba Inu (SHIB): Riding the Memecoin Wave
Amidst the meme coin craze, Shiba Inu has emerged as a key player, aiming to replicate the success of other meme tokens like Pepe (PEPE) and Floki Inu (FLOKI). With a fully diluted valuation of around $25 billion, SHIB is showing signs of an impending bullish surge, finding support around $0.00021, aligning with the weekly 0.618 Fibonacci Retracement level.
JasmyCoin (JASMY): A Rising Contender
JasmyCoin has been steadily climbing the ranks since the beginning of the year, boasting a market cap of approximately $1.8 billion and a daily average trading volume of $211 million. Technically, JASMY’s price against the US dollar appears poised for a bullish phase, with the weekly Relative Strength Index (RSI) hovering around 68 points, indicating growing investor confidence and potential for further growth.
In addition, don’t miss out on:
– Ethereum ETFs Facing Significant Delays: SEC’s Gensler Reveals Crucial Details
If you’re considering investing in altcoins, be sure to conduct thorough research before diving in.
Tags: Altcoins, Price Analysis