Top Altcoins To Buy This Week: Jupiter (JUP), Solana (SOL), and Toncoin (TON)
- 王林Original
- 2024-08-07 21:52:13267browse
The broader market experiences a surge in demand for altcoins, and the altcoins market reclaims the $850B capitulation. Amid the top performers, many signal a high potential extended rally this week for bigger gains.
The broader market experiences a surge in demand for altcoins, and the altcoins market reclaims the $850B capitulation. Top performers signal a potential extended rally this week.
Top Altcoins To Buy This Week
Among the top names, Solana, Jupiter, and Toncoin revealed a bull run ahead with increased interest from buyers. So, let’s take a closer look at the price analysis of top altcoins for a buying opportunity.
Jupiter (JUP) Price Analysis: A Bullish Breakout In Sight
After a bullish breakout rally failed to sustain above $1.12, JUP took a dip to the $0.68 support level. This formed a double bottom pattern with a neckline at the $1.12 peak.
Now, a bullish reversal is starting a bull cycle with a 21% jump within 48 hours. It formed two consecutive bullish candles, signaling a run to the $1.12 neckline.
If the bullish momentum sustains, the altcoin price could hit the 50% Fib level at $1.32. On the upside, $2 and $2.75 are potential upside targets for JUP.
Solana (SOL) Price Analysis: A 40% Recovery In The Making
Solana is up 40% from the low of $110, setting the stage for a new bullish cycle in this recovering market. Surpassing the $150 psychological mark, the altcoin is approaching crucial resistance for an extended uptrend.
With two consecutive bullish candles, Solana is challenging the 50D EMA and the 50% Fibonacci level at $157. An uptrend continuation will head to the massive supply range at $190.
Beyond this, the bull run in the altcoin could result in a price jump to the $223 mark.
Toncoin (TON) Price Analysis: A Bullish Engulfing Candle In Sight
With a market cap of $14.53 Billion, the native coin of Toncoin trades at $5.76, creating an intraday Doji candle. Following the 9.11% growth last day, a bullish engulfing candle reclaimed the 200D EMA.
The downfall in the 50D EMA due to the increased bearish influence warns of a death cross. Further, with the altcoin sustaining above the $5 psychological mark, it teases a fresh uptrend.
As per the trend-based Fibonacci levels, the breakout of the 50% level at $6.21 will be the deciding factor of future price trend. The overhead resistance levels for the altcoin to watch are at $7.68 and $10.
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