Sohrab Khawas
With the U.S. Bitcoin ETFs giving strong recovery signals like zero outflow and massive $295M inflow, the highest in 21 days, the crypto market is bound to bounce back. As the Bitcoin price could surge shortly, the altcoins are quick to pick up pace and recover this week.
Amidst the top recovering altcoins, apart from the meme coins, the low-cap tokens are sharing the limelight. As the market anticipates a bullish turnaround as buyers hold a bottom, the low-cap tokens are preparing for a moonshot.
So, let’s have a closer look at the top-performing altcoins today as the bull market anticipations get stronger.
Double Bottom Teases ENA Altcoin Price To Hit $1
Dropping under the $1 Billion market cap, the Ethena labs token, ENA, experiences a massive price drop. As the altcoin takes a halt at $0.35, the buyers are preparing for a recovery rally with the market bouncing back.
The ENA price shows a double bottom pattern forming in the 4H chart with a neckline at $0.425. As the ENA price jumps 15% from last night, the altcoin is ready for a bullish breakout rally.
Currently, the ENA price trades at $0.413, below the psychological mark of $0.50. As per the Fibonacci retracement levels, the uptrend can find $0.51 and $0.69, which are the 23.60% and 50% retracement levels, as strong resistances.
Optimistically, the ENA price could reclaim the $1 psychological mark as the broader crypto market conditions improve.
STRK HODLers Manifest Wedge Breakout Rally
With a clear declining trend in the daily chart, the STRK price is down by 77% from the peak of $2.63. Under the $1 Billion market cap, the Starknet altcoin reveals massive upside potential as the broader market crash takes a halt.
Forming a wedge pattern, the STRK price action reveals a bull cycle starting within the pattern. As the altcoin approaches the bottleneck area, the breakout chances are increasing. Further, the bullish crossover in MACD and the oversold RSI bolsters the uptrend chances for Starknet.
With the overnight jump of 11%, the altcoin prepares a bull run with a breakout and potentially hit $1.50.
Will RON Price Reversal Hit $5?
With a head and shoulder breakdown, the RON price drops by 56% within four months. The altcoins dropped to the 61.80% Fibonacci retracement level with a declining trend in the technical indicators.
The weekly chart reveals an intense pullback phase, with the MACD and signal lines declining to the zero line and the RSI close to the oversold zone. The intraday growth of 3.39% following the overnight jump of 7.89% teases a bullish comeback.
The upcoming rally could reach the $4.32 peak, teasing a new all-time high at $5.
