Top 5 Altcoins That Have the Potential to Dominate the Crypto Space This Q4
- Patricia ArquetteOriginal
- 2024-10-21 18:02:21800browse
With Bitcoin price holding its $69k mark and Ethereum price reclaiming the $2,700 mark, the altcoin market has recorded a strong bullish recovery.
Bitcoin price remained close to the $69k mark, while Ethereum price experienced a significant recovery, reclaiming the $2,700 level. Notably, the altcoin market displayed a strong bullish trend on Monday morning.
As investors speculate about the beginning of a prolonged altcoin market, they are eagerly planning to invest in mid-cap altcoins during this AltSeason. However, concerns arise regarding the future prospects of these altcoins.
To address these concerns, we have compiled a list of the top 5 altcoins that have the potential to dominate the crypto space in Q4.
Apecoin price, among the top 100 cryptocurrencies, emerged as the top gainer with a remarkable 30% surge. Interestingly, the altcoin is currently trading at a 46% discount from its yearly high, hinting at a potential bullish reversal.
In the 1D time frame, the MACD indicator displayed a significant uptrend in the green histogram. Additionally, the SMA supported the price trend, suggesting a bullish outlook for APE price this week.
If the bullish sentiment continues, we can expect Apecoin price to rally towards its upper resistance level at $2.075. On the flip side, a bearish reversal could drag the price down towards its low of $1.0.
Arbitrum price, amidst increased price volatility, reclaimed the $0.60 mark with a 9.84% jump in the past 24 hours, clocking in a trading volume of $308.66 million. Ranking 39th, it boasts a market cap of $2.42 Billion.
On the Arbitrum price chart, EMA 50-day demonstrated a bullish convergence. Meanwhile, the RSI indicator showed a sharp rise towards the overbought range, indicating a strong positive influence.
Should the market favor the bulls, ARB price will break out of its important resistance level and rally towards its upper high of $1.070. Conversely, bearish action could see it retesting its low of $0.3575.
Jupiter price, following a brief period of trading within a consolidated range, surged by 10.68%. As a result, it managed to reach and surpass its August high of above $1 mark during the early Asian trading hours.
The Moving Average Convergence Divergence (MACD) displayed a continuous rise in the green histogram as its averages maintained an ascending pattern, highlighting that JUP price may continue gaining value this week.
If the bulls dominate the crypto market, we can expect Jupiter price to rally towards its resistance level at $1.160. On the contrary, if bears regain momentum, JUP coin price could plunge towards its support of $0.8445.
Amid increased volatility in the crypto market, DYDX price experienced a surge of 2,380% in its daily trading volume. Furthermore, with a jump of 28.41%, it had a market capitalization of $800.03 million.
The Relative Strength Index (RSI) breached the overbought range and continued trading above it in the 1D time frame. With increasing bullish sentiment, we can expect DYDX price to continue gaining value.
If the bullish sentiment sustains, DYDX price may break out of its resistance level and rally towards its upper high of $2.24. In contrast, if the bears outrun the bulls, the altcoin may retest its low of $0.8350.
Mina price, after trading under a consolidated range since June, managed to regain momentum and is currently testing for a breakout from its resistance level at $0.650.
The Simple Moving Average (SMA) constantly supported MINA price in the 1D time frame. Moreover, the MACD showed an increase in bullish sentiment, indicating buying-over-selling pressure.
Maintaining the value above its support level of $0.650 will set the stage for MINA coin to retest its resistance level of $0.920. Conversely, if the bearish sentiment intensifies, this altcoin can retest its low of $0.380.
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