Bitcoin trading above $62,000 has experts anticipating a significant uptrend week for the cryptocurrency market, with high-volume altcoins showing potential to reach all-time highs. Investors have a key opportunity to buy these altcoins before the expected bull run. Let’s examine the price charts of some high-volume altcoins.
BNB (BNB)
Binance‘s service altcoin BNB rose by 13.03% last week, showing impressive performance. The series of bullish candles indicates a positive trend as the cryptocurrency market heats up. Binance’s dominance in the centralized trading market is expected to boost trading volumes, contributing to this positive outlook.
The weekly chart shows a notable recovery rally for BNB despite a 15% drop marked by a bearish engulfing candle at the beginning of July. The altcoin reclaimed the 50% Fibonacci level at $537 and is currently trading at $557. Supported by the 50-week EMA, the rally is expected to continue, potentially surpassing the $800 level.
Solana (SOL)
Dubbed the “Ethereum Killer,” Solana‘s mainnet asset SOL appears ready for a bull run this week. SOL’s price trend shows a potential double bottom at the 50% Fibonacci level, supported by the 50-week EMA. This formation indicates a bullish outlook.
Last week, SOL jumped by 12%, with an additional 2.97% increase during the day, indicating strong momentum. If SOL surpasses the 61.80% Fibonacci level at $158, it could initiate a bull run towards $200. According to Fibonacci levels, SOL has the potential to reach $400, marking an all-time high this year.
Toncoin (TON)
With a market cap of $18.76 billion, Toncoin rose by 5.25% last week, ranking 8th among high-volume altcoins. As the cryptocurrency market recovers, TON is expected to benefit from this momentum, supported by its rising trend line.
Currently, TON is holding above the 50-day EMA and is struggling to surpass the 50% Fibonacci level at $7.48. A breakout from this level could trigger a bull run, pushing the altcoin towards the psychological level of $10.
