Altcoins
Small-Cap Altcoins Are Poised for Explosive Gains
With US Bitcoin ETFs showing strong recovery signals, such as zero outflow and massive inflow of $295 million, the highest in 21 days, the cryptocurrency market is set to rebound. Bitcoin Price could rise shortly, altcoins are quick to pick up momentum and recover this week.
Among the top performing altcoins, besides meme coins, small-cap tokens are sharing the spotlight. As the market anticipates a bullish reversal as buyers hold a floor, small-cap tokens are preparing for a lightning strike.
So, let’s take a closer look at the top performing altcoins today as bull market expectations strengthen.
Double Bottom Hints Altcoin ENA Price Will Reach $1
Falling below the $1 billion market cap mark, Ethena Labs’ ENA token is seeing a massive price drop. As the altcoin stalls at $0.35, buyers are preparing for a recovery as the market rebounds.
ENA price is showing a double bottom pattern forming on the 4H chart with a neckline at $0.425. As ENA price surges 15% from last night, the altcoin is poised for a bullish breakout rally.
Currently, ENA price is trading at $0.413, below the psychological mark of $0.50. According to the Fibonacci retracement levels, the uptrend may find $0.51 and $0.69, which are the 23.60% and 50% retracement levels, as strong resistances.
With optimism, the ENA Prize could regain the psychological $1 mark as overall cryptocurrency market conditions improve.
STRK HODLER Shows Their Wedge Breakout Rally
With a clear downtrend on the daily chart, STRK price is down 77% from its peak of $2.63. Below the $1 billion market cap, altcoin Starknet is showing massive upside potential as the broader market crash comes to an end.
Forming a wedge pattern, STRK price action reveals a bullish cycle starting within the pattern. As the altcoin approaches the bottleneck zone, the chances of a breakout increase. Moreover, the bullish crossover in the MACD and the oversold RSI reinforce the chances of an uptrend for Starknet.
With an 11% jump overnight, the altcoin is preparing for a bull run with a breakout and potential reach to $1.50.
Will the RON price reversal reach $5?
With a head and shoulders breakout, RON price drops 56% in four months. Altcoins fell to the 61.80% Fibonacci retracement level with a downtrend in technical indicators.
The weekly chart reveals an intense pullback phase, with the MACD and signal lines declining to the zero line and the RSI close to the oversold zone. The intraday growth of 3.39% after the overnight jump of 7.89% suggests a bullish comeback.
The upcoming rally could reach the high of $4.32, setting a new all-time high at $5.
Read also : Crypto News Today: Bitcoin Rebound Is Imminent! Key Levels to Watch