The crypto market has experienced a particularly strong week, with the total value of assets in the industry increasing by nearly $300 billion. This event was driven by Bitcoin, as the currency reached a new all-time high, surpassing $118,000. With this move, the cryptocurrency market is expected to continue having a promising weekend.
Below are 3 altcoins that are likely to experience strong growth in the coming days.
HYPE
In the past 24 hours, HYPE has witnessed an impressive increase, rising by 11% and currently trading at $45.98 after hitting an all-time high (ATH) of $46.05 about three hours prior, indicating a significant increase in interest from investors and the potential for continued price growth in the near future.
However, although the possibility of a new peak seems feasible, HYPE still faces a significant challenge: the $50 mark. This could be an important psychological resistance level, where market demand will increase, potentially leading to a strong breakout. However, this depends on the ability to maintain the support level of $45.8 to continue the bullish trend.
According to price analysis, if HYPE surpasses the level of $45.8 and faces strong selling pressure, the price may drop to the nearest support level at $42.3. Losing this support level could weaken HYPE's bullish outlook, while also opening up the possibility of a deeper correction, stalling the current upward momentum and causing the market to stagnate.
WLD
The price of WLD has surged by 18.4% in the past 24 hours, becoming one of the most outstanding performing altcoins. Currently, this token is trading at $1.1, attracting significant attention from investors due to positive market sentiment and a substantial increase in inflow. This strong growth indicates increasing confidence in WLD and its potential for continued growth.
The next important resistance level for WLD is $1.19. It is forecasted that this altcoin could surpass this level with strong support from inflows, as indicated by a slight increase in the Chaikin Money Flow (CMF) index. If it successfully breaks through the level of $1.19, WLD could continue to rise and head towards $1.33, marking a significant jump and consolidating its upward trend.
However, if WLD cannot maintain the support level of $1.19, the price may be adjusted and drop to the support area of $1.06. If selling pressure continues, the price could significantly drop below this level, with the possibility of sliding down to $0.95, which would weaken the current bullish outlook and could mark a trend reversal.
PEPE
The price of PEPE has surged by 15% in the past 24 hours, becoming one of the leading altcoins today. Currently, PEPE is trading at $0.0000127, just a small distance away from the resistance level of $0.000013. PEPE's strong upward trend indicates an increase in interest from investors, and if it surpasses this resistance level, PEPE could continue to grow in the near future.
However, in mid-June, PEPE formed a 'Death Cross' and shifted from an upward trend to a downward trend. Since then, PEPE's price has struggled to reverse. Nevertheless, if the market recovers, PEPE may surpass the resistance level of $0.0000138, opening up opportunities for a stronger recovery.
In the event that PEPE faces selling pressure from short-term investors, the price may adjust and drop to the support level of $0.0000121 or $0.00001. If these support levels are breached, PEPE's bullish outlook will become invalid and may shift to a downward trend in the near future.