Top Altcoins To Hit All-Time High This Week
Release: 2024/05/19 16:54 Reading: 538
Top Altcoins Primed to Surge to All-Time Highs This Week
Bitcoin's recent surge towards $66,000 has ignited a rally in cryptocurrency prices. This upward momentum follows the release of the April CPI report, which revealed a moderation in core inflation and a surprising decline in retail sales. As Bitcoin's price gains traction, several altcoins are poised to challenge their previous all-time highs (ATHs) this week.
BTC Market Prepares for a Pullback
Bitcoin's price has stabilized above the crucial $66,000 support level, instilling confidence among crypto traders. However, concerns linger regarding a potential correction in the coming days due to possible selling pressure around resistance channels.
Altcoin Market Poised for Growth
This anticipation of a BTC pullback could lead to increased interest in the altcoin market this week, potentially propelling several altcoins to new heights.
Pepe Price Analysis
Pepe's price faces bearish pressure after a recent selloff from its ATH of $0.00001156. The price has dipped below the EMA20 trend line, indicating a potential shift in momentum. Currently trading at $0.000009432, Pepe has lost over 6.4% in the past 24 hours.
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Buyers aim to keep the price above the 20-day EMA ($0.00000958). Success in this endeavor could lead to a rebound towards $0.000011. This level is crucial for bears to defend, as a break above it may spark a rally towards the ATH.
Conversely, a break and close below the $0.0000091 support level would confirm a bearish pattern, potentially pushing the pair down to the strong support at $0.0000055. With the RSI declining below the midline, bears currently hold the upper hand.
Render Price Analysis
Bears continue to pressure Render's price, as bulls struggle to maintain it above the 20-day EMA, currently at $10.2. However, Render's buying demand remains above Fib levels. At the time of writing, RNDR trades at $10.6, up over 5.4% in the last 24 hours.
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The 20-day EMA is rising, and the RSI is approaching the overbought zone, suggesting that RNDR may experience bullish movement in the coming days. If buyers can keep the price above the descending resistance line, the RNDR/USDT pair could potentially move towards the 50-day SMA at $11.4. This level may present significant resistance, but overcoming it could drive the price towards new ATHs this week.
On the downside, a reversal from the 50-day SMA would indicate bear dominance at higher price levels. This could lead to a decline towards the crucial support level of $9.5.
Bonk Price Analysis
Bonk's price has witnessed a recent surge, potentially testing the patience of buyers. Despite this rally, bears remain entrenched around the $0.000028 mark. Currently, Bonk trades at $0.000028, representing a 12.5% increase in the last 24 hours.
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Buyers are striving to keep the price above the 20-day EMA of $0.0000265. Success in this regard could propel the BONK/USDT pair towards the 50-day SMA. This level is critical for bears to defend, as surpassing it may lead to a rise towards a new ATH of $0.00005.
Alternatively, if the price falls and stabilizes below $0.0000237, a bearish trend would be confirmed. This could result in a decline towards the strong support level of $0.00002.
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