BNB is 4.7% away from its all-time high of $861, strong momentum may push it higher.

SPX is approaching the $2.00 resistance, and a breakout could lead to a rise towards the all-time high.

Ethereum is 13.5% away from its all-time high; a support level of $4,500 is key for continued growth.

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3 cryptocurrencies chasing a historic peak this week

The cryptocurrency market seems to be on the verge of igniting a new bullish round. Since the beginning of the month, altcoins have dazzled investors with their continuous rises, bringing many of them close to their peaks.

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BNB Token

BNB is currently the altcoin closest to its all-time high (ATH), trading only 4.7% below the ATH of $861. At $822, it remains poised for a potential breakout. The proximity to the ATH indicates strong market sentiment and the potential for further upward movement in the near future.

The previous ATH was set about three weeks ago, and with broader market support, BNB may continue its upward momentum. If market conditions remain favorable, BNB could reach $861 and possibly exceed it, surpassing the previous record during this week.

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However, if the broader market fails to maintain its rise, BNB may struggle to break the $823 level. In such a scenario, a price drop could occur, pushing BNB down to $793 or possibly lower to $766. Market conditions will be critical in determining the direction of the altcoin's price.

SPX6900 Token (SPX)

SPX is currently trading at $1.96, approaching the resistance level of $2.00 after more than two weeks of consolidation. Successfully breaking this level is crucial for SPX to target its all-time high (ATH) of $2.29. The next few days could determine its upward trajectory.

The Parabolic SAR indicator, located below the candles, acts as support, indicating an active bullish trend. With this indicator in play, the altcoin has the potential to rise by 17%, reaching or exceeding the ATH. Continued upward movement, supported by the Parabolic SAR indicator, suggests strong bullish momentum for SPX in the near term.

Thus, if SPX fails to break the $2.00 resistance, it may face downward pressure. In this case, the price could drop to $1.74, undermining the bullish outlook.

Ethereum (ETH)

Ethereum is approaching a major milestone in August, trading at $4,303, its highest level in 3.5 years. The altcoin broke the $4,000 barrier over the weekend, targeting the next goal at $4,891. This strong upward momentum indicates that Ethereum could make history if its growth continues.

At $4,303, Ethereum is 13.5% away from its all-time high (ATH) of $4,891. To reach this ATH, ETH must first secure $4,500 as a stable support level. Successfully consolidating above this threshold could pave the way for ETH to continue its bullish ascent towards the ATH.

However, if investor sentiment changes and selling pressure increases, Ethereum may struggle to maintain its position above $4,000. Falling below this level could invalidate the bullish outlook, potentially reversing recent gains and sending ETH down.