Top 5 Altcoins to Watch as the Anticipated Altseason Approaches

The altcoin industry has consolidated in a bearish outlook for the past five months despite the notable rise in demand from institutional investors. The increased crypto regulatory clarity in the United States has created an enabling environment for further altcoin growth.

The cryptocurrency market has been dull for the past five months, with altcoins showing a bearish outlook. However, several factors could lead to an upcoming altseason, especially with the increased crypto regulatory clarity in the United States.

Institutions have shown interest in crypto, and the SEC dropping investigations into Ethereum (ETH) and Solana (SOL) could pave the way for further altcoin growth. Moreover, the recent conclusion of the SEC vs Ripple case, with XRP largely viewed as a commodity, could also contribute to the upcoming altseason.

Here's a list of top altcoins to watch ahead.

ApeCoin (APE) price is breaking out of a trendline in the 8H timeframe.

ApeCoin (APE), an ERC-20 governance and utility-based token, has established itself as a small-cap altcoin in the NFT space. With a fully diluted valuation of about $648 million and a daily average traded volume of around $33.8 million, APE is on the verge of a bullish breakout from a weekly falling logarithmic trend.

According to crypto analysts ZAYK Charts, if APE price consistently closes above the macro-falling logarithmic trend, it could rally at least 51 percent in the near term.

Avalanche (AVAX) has bounced back and could break out of a wedge soon.

Avalanche (AVAX), a top-tier layer one (L1) chain with nearly $1 billion in total value locked (TVL) and over $2 billion in stablecoins market cap, has become a web3 hub backed by institutional investors. For instance, Grayscale announced the launch of the Avalanche AVAX Trust on Thursday.

As a result, AVAX’s price could soon break out of the macro consolidation in the near term. According to crypto analyst Captain Faibik, if the breakout occurs, we can expect a 200 percent rally, similar to the last one between November and December 2023.

Cardano (ADA) falling wedge formation on the daily timeframe chart.

Cardano (ADA), a top-tier layer one blockchain with $208 million in TVL, has been described as a sleeping giant by some while others view it as a zombie project. From a technical standpoint, ADA price has been approaching the apex of a falling wedge, thus signaling an imminent breakout to the upside.

Filecoin (FIL) falling wedge breakout is done in 1D timeframe.

Filecoin (FIL), a fast-growing layer one project, can be included in the top list. Filecoin project has a TVL of about $62 million from a dozen DeFi projects.

If the Filecoin project continues to gradually attract investors, the altcoin could soon double in value.

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