The recent surge in Bitcoin’s price, hitting $95,000 in the last 24 hours, has created ripples across the cryptocurrency market. As Bitcoin fluctuates, its influence on altcoins is palpable—some tokens have experienced sharp declines, while others have shown resilience amidst the bearish pressures.
In the current market scenario, analysis from BeInCrypto highlights altcoins that hold the potential to reach new all-time highs if conditions improve. Let’s delve into three such altcoins that investors may want to keep an eye on in the coming week.
Undead Games (UDS)
Currently trading at $2.13, UDS finds itself just below a critical resistance level at $2.17. The token is about 36% away from its all-time high of $2.90, indicating a significant potential for price recovery if the buying momentum returns. For UDS to make a notable climb, it needs to flip the $2.29 level into support. If successful, this breakthrough could propel the price upward toward targets of $2.48 and possibly beyond.
The next significant resistance to watch will be at $2.59. A successful breach here would bolster bullish sentiment further and set the foundation for a broader upward trend. However, caution is advised: should market conditions deteriorate, UDS may struggle to maintain its current levels, risking a drop to $2.00 or even $1.90. Such a decline would undermine any bullish setup, reflecting waning investor confidence and exposing UDS to deeper losses.
Memecore (M)
Trading at $2.15, Memecore is currently positioned above the $2.12 support level but is still 39% below its all-time high of $2.99. This distance suggests that for Memecore to achieve a sustainable recovery, stronger investor participation is essential. The Ichimoku Cloud indicators project a bullish potential. If Memecore can break above $2.26 and solidify $2.50 as support, it could reach targets of $2.71, opening the door to retesting its previous high at $2.99.
Yet, this bullish outlook hinges significantly on improved market dynamics or the onset of an altcoin season. Without adequate support, Memecore risks falling below the $2.12 threshold, potentially descending to $1.88. Such a move would negate any bullish thesis and signal increased downward pressures for this token.
BNB
Among the altcoins, BNB stands out, trading at a level that still positions it relatively close to its all-time high, despite being 47% below the peak of $1,375. This relative strength underscores persistent investor interest, even amid the broader market’s uncertainty. Recently, BNB has witnessed increased inflows as indicated by the Chaikin Money Flow crossing above the zero line, a positive sign suggesting a shift in investor sentiment toward bullishness.
If BNB can build on this momentum and break past the $1,000 resistance, it would invalidate the lingering downtrend and aim for higher prices, possibly toward $1,136. However, a lack of upward momentum could trap the token in its downward trajectory. Should it fall below the crucial $902 support level, BNB may face further declines toward prices around $854 or lower, highlighting a shift toward renewed selling pressure.
