The price of Bitcoin has had difficulty maintaining crucial support at $64,800 just days after its fourth halving on April 20. In the meantime, altcoins, including memecoins and layer-1 cryptocurrencies, have performed better than Bitcoin over the past week. This has led market participants to speculate whether it’s the beginning of the altcoin season, or “altseason.” In this article, we’ll explore top altcoins with technical charts to determine their potential for a 2x-5x gain in the coming week.
These Altcoins Might Double Their Values
Last week, various altcoins captured attention as Bitcoin faced challenges in holding its price near $65,000. Despite this, the altcoin season index remains in bearish territory, having dropped from a recent high of 59 to a low of 23 before recovering slightly.
The altcoin season index’s recent decline shows ongoing dominance of Bitcoin price, even with bearish setbacks following the halving event. Nevertheless, some analysts have identified a few altcoins that could potentially achieve gains of 2x to 5x in the upcoming week, despite the decreasing dominance.
Golem (GLM) Price Analysis
GLM has recently broken out strongly after hovering around the $0.39 level. It has overcome resistance levels and is now targeting new higher highs in the coming hours by breaking above the descending resistance line. Currently, the GLM price stands at $0.58, having soared more than 50% in the last 24 hours.
It’s positive to see that buyers are maintaining their positions instead of cashing out at higher prices. In the short term, the price may pull back to the moving averages, which are anticipated to act as support. A robust recovery from these averages could pave the way for surpassing the $0.67 mark. If successful, the GLM/USDT pair could climb to the $1 mark.
However, if the price drops below the moving averages, this could indicate that buyers are starting to sell off.
Bonk Price Analysis
Recently, the price of Bonk has seen substantial growth and is on the verge of overcoming critical resistance levels. Bonk has managed to break out from the descending resistance channel, though sellers are aggressively resisting any further increases.
BONK price is currently surging exponentially and has registered around 60% gain in the last seven days. The BONK/USDT trading pair seems poised to surpass Fibonacci resistance levels, approaching a crucial resistance line at $0.0000301. Bears consider maintaining this line vital, as a breach could shift control away from them. If this resistance is breached, the price could potentially rise to $0.00006, doubling the gain next week.
Pepe Price Analysis
Pepe’s price has been fluctuating within a narrow range over the past three days, indicating an equilibrium between buyers and sellers at these price points. Buyers are now attempting to push the price above $0.0000082 to confirm an uptrend.
If the price breaks above the resistance zone of $0.000009-$0.00001, it might trigger a short squeeze, sending the price above $0.00002 in the coming week.