Major Altcoins Poised for Bullish Breakout in Upcoming Weeks
Altcoins experienced a resurgence on Friday, driven by the recent surge in the price of Bitcoin (BTC) above $66k. Positive regulatory developments in key jurisdictions like the United States, India, Hong Kong, and Europe have contributed to a bullish sentiment in the crypto market. Additionally, spot Bitcoin ETFs have seen three consecutive days of cash inflows following a period of outflows.
As a result, altcoins with strong bullish sentiment, particularly Chainlink (LINK) and meme coins, have indicated an imminent surge in the near future.
Here are some top altcoins to keep an eye on:
Arbitrum (ARB)
The Ethereum (ETH) ecosystem is eagerly awaiting the final decision on VanEck’s spot in the Ether ETF, which could have an impact on other applicants as well. Arbitrum (ARB), a leading Ethereum-based layer two scaling solution, is poised for a major bullish breakout.
According to well-known crypto analyst Captain Faibik, if ARB successfully breaks out of a falling wedge pattern, its price could easily rally by at least 50%.
Enjin Coin (ENJ)
Immersive GameFi web3 projects like the Enjin ecosystem, which includes Enjin Coin (ENJ), are set to drive mainstream adoption of digital assets. This small-cap altcoin, with a fully diluted valuation of around $560 million and a daily average traded volume of approximately $22 million, has seen a 5% increase in the past week, trading around 31 cents at the time of this report.
Captain Faibik suggests that ENJ is gradually breaking out of a falling wedge pattern, which could lead to a 50% price increase in the coming days.
Injective (INJ)
Backed by Binance, Mark Cuban, Pantera Capital, and other prominent investors, the Injective (INJ) network has evolved into a vibrant Web3 ecosystem with a fully diluted valuation of over $2.4 billion and a daily traded volume of $91 million.
Captain Faibik believes that INJ is on the verge of a bullish breakout, with the potential for a 50% gain.
Tags: Altcoins, Price Analysis