Altcoin Season Soon: Not a Trap – Top Altcoins to Watch Out for
As the market sentiment towards altcoins continues to improve, the flow of liquidity from Bitcoin to other cryptocurrencies is gaining momentum. Interestingly, it’s not just the newer tokens that are garnering attention, but also the older ones that are making a comeback. Tokens like Aave and Hedera are witnessing significant trading volume, hinting at a potential surge of over 25% in the near future.
Aave Testing the Waters of a Bullish Trend
The AAVE price recently broke out of a bullish pattern in the long term and after a minor pullback, the upward trend has been reinstated. Bulls are consolidating their strength near a key resistance level, and a breakout from the current range could pave the way for a new all-time high in the early days of 2025.
In the short term, the price action of AAVE indicates a strong potential to surpass the critical resistance at $400. The token has already broken out of an Adam & Eve pattern, leading to a 10% surge followed by a period of consolidation. The stochastic RSI is approaching oversold territory, signaling a potential rebound, while the MACD is on the verge of a bearish crossover. This suggests that the price might experience a slight correction below $370 before bouncing back strongly and potentially reaching $420.
Hedera (HBAR) Setting its Sights on $0.35
Meanwhile, the HBAR price is steadily climbing towards its previous cycle highs despite the overall market sluggishness. Although bears have been attempting to cap the rally below $0.30, a recent breakout indicates a possible major upswing, with a new all-time high on the horizon.
The HBAR price recently broke out of a falling wedge pattern in the short term and is displaying a series of bullish candles. The RSI is trending upwards, and the Ichimoku cloud has turned bullish, suggesting a sustained uptrend. As a result, the price is expected to continue its upward trajectory, reclaiming levels around $0.38 and potentially surging above $0.40 by the end of the year.
In conclusion, the altcoin market is showing signs of renewed strength, with tokens like Aave and Hedera leading the way. Investors should keep a close eye on these top altcoins as they navigate through a potentially lucrative period ahead.