The cryptocurrency market has seen a strong bullish recovery this week, with top altcoins making a notable comeback. Investors are eagerly anticipating the possibility of multiple tokens reaching new all-time highs in the near future.
If you’re considering investing in altcoins this week, it’s essential to stay informed about the top contenders in the market. Let’s take a closer look at some of the potential altcoins that could achieve new ATHs in the coming days.
### Solana (SOL)
Despite a slight 3.25% dip in the last seven days, Solana (SOL) has shown impressive growth of 39.38% over the past month and boasts a Year-to-Date return of +35.54%. With a market capitalization of $124.801 billion, SOL currently holds the 5th position in the global crypto market.
The Solana price chart is supported by the Simple Moving Average (SMA) in the 1D time frame, but the RSI indicator reflects mixed price sentiment. This indicates a level of uncertainty surrounding the 5th largest cryptocurrency this week.
If the bulls regain momentum, we could see the SOL price break through the $270 resistance level and head towards $300. On the other hand, a bearish scenario could push the price down to $230.
### Biget Token (BGB)
Biget Token (BGB) has been gaining significant attention in the crypto space recently, with an expanding channel pattern forming over the last 60 days. The altcoin continues to trade within this pattern since December 2024.
The Moving Average Convergence Divergence (MACD) shows a consistent decline in the red histogram, but the averages are on the cusp of experiencing a bullish convergence. This suggests an increase in buying pressure for BGB.
If the upward trajectory continues, BGB could reach $10 in the near future. However, a bearish trend might see the token drop below the $7 support level towards $5.50.
### Gate Token (GT)
Gate Token (GT) has maintained a bullish price action, with a 24.66% increase in the last seven days and a 62.71% gain over the past month. With a market cap of $2.251 billion, GT has surged over 52% this year, indicating strong bullish momentum.
The Relative Strength Index (RSI) remains above the overbought range in the daily time frame, while the SMA acts as a constant support. This suggests a positive outlook for GT in the current market conditions.
If the bulls continue to dominate, GT could aim for a target price of $30. Conversely, a bearish trend reversal could push the price down to $22.
In conclusion, the cryptocurrency market is showing signs of recovery and potential for altcoins to reach new all-time highs. By staying informed about the market trends and key indicators, investors can make well-informed decisions about their altcoin investments.