The crypto markets are consolidating as the Bitcoin price plunges below $61,000, circulating bearish waves within the markets. Meanwhile, altcoins have also begun to correct to some extent, which signals that the token may undergo a fresh ascending trend very soon. Here are some of the altcoins which are poised to reach $1 in the upcoming bullish spell.
Pyth Netwrok (PYTH)
- Pyth Network gained huge attention as the prices soared above 400% since the start of the year which remained unaltered regardless of the bearish trend that followed
- The price is trading within a descending parallel channel and is consolidating within a range from the past fortnight
- The extreme consolidation suggests the bulls could soon gain dominance and elevate the levels to $0.5 initially
- As the selling pressure has intensified over time, it seems that the bulls may revamp a steep ascending trend as suggested by the bull-bear power
- Once, the PYTH price sustains at these levels, then the path to $1 may be pretty clear without major hindrance
ZkSync (ZK)
- zkSync has just begun its trading journey and hence is believed to demonstrate huge price action in the coming days
- The RSI has maintained an incremental trend, due to which the price is on the verge of completing the parabolic recovery to reach the neckline
- The neckline around $0.232 to $0.23 can be considered extremely crucial, as the bulls are expected to fall weak at these levels
- Meanwhile, if they display some strength at these levels, then the price could trigger a fresh rise to form a new ATH above $0.3
- By then, market sentiments may have turned bullish, which could trigger a fresh ascending trend, discovering new highs in the latter half of 2024
Conflux (CFX)
- The recent pullback appeared to be the end of the bullish trend as the price dropped after forming a mountain
- However, the possibility of a trend reversal emerges as the RSI is again testing the average range, aiming to surpass the levels
- Unfortunately, the bears have dominated the markets and as a result, the price may also face a minor pullback
- After undergoing a small drop of nearly 18% to 20%, the CFX price is expected to initiate a fresh upswing and maintain a steep ascending trend to reach the upper resistance zone at $0.21
- During the last quarter, the markets are expected to become more optimistic, which may trigger a fresh ascending trend to reach $1 in the last few weeks of 2024
Ethena (ENA)
- The Ethena price has been stuck within a steep descending trend ever since it started its trading journey and formed the highs
- The price formed new highs close to $1.5 and after marking the bottoms, the token is trying hard to rebound
- Therefore, the price is expected to regain $0.5 anytime from now, which could elevate the levels above $0.65 by the end of the month
- The RSI which has bottomed, may trigger a rebound, validating the bullish trajectory, and aiming to reach the upper threshold
- Therefore, the ENA price is expected to sustain above $0.8, which may pave the way to reaching $1 in the next few months
Mantle (MNT)
- MNT price has dropped below the crucial ascending trend line and marked the bottoms along the support zone just below $0.8
- The price is consolidating heavily within the support zone, which is expected to result in a massive outbreak very soon
- As the RSI has reached the lower threshold, a rebound may be expected, reviving a fresh ascending trend above 50
- This move may cause the price to rise above $1 but it may also reach the upper resistance close to $1.5.
