At the beginning of Q2, the cryptocurrency market started gaining momentum, with numerous tokens displaying significant improvement towards the end of April, largely influenced by Bitcoin's performance. Most alternative coins (altcoins) also experienced notable growth, with some even nearing their all-time highs amid an optimistic market sentiment.
BeInCrypto has identified three altcoins that are close to reaching new all-time highs in the upcoming month.
One of these altcoins is Walrus (WAL), which surged by 50% in the past week, reaching a price of $0.622 and hitting a new all-time high of $0.690. The increase in price reflects a growing interest and confidence from investors in WAL’s market performance. The altcoin is currently only 11% away from surpassing its all-time high and potentially reaching a new high of $0.750, contingent upon maintaining the bullish momentum. Failure to breach the $0.634 resistance could lead to a decline to $0.546, signaling a possible correction.
Saros (SAROS) achieved a new all-time high of $0.1712 but dropped to $0.1311 at the time of writing. SAROS is currently facing a resistance at $0.1344, and breaking through this level is essential for the altcoin to return to its all-time high and potentially reach $0.2000. Failure to breach the resistance could result in consolidation above $0.1153, jeopardizing short-term growth potential.
BNB is priced at $609, requiring a 30% increase to reach its all-time high of $793. To achieve this, BNB needs strong market conditions and investor support, which have been lacking recently. The altcoin faces significant resistance due to a five-month downtrend. A rally above $700 would indicate a potential challenge to its previous all-time high. However, BNB might face challenges in gaining investor traction, potentially leading to a decline if it fails to breach the $618 resistance level.
XRP is breaking out of a descending wedge pattern and is currently trading at $2.28, aiming for the $2.40 resistance level. If successful, this breakout could lead to further upward momentum and renewed investor optimism. Despite the recent surge, XRP is still far from its all-time high of $3.40. Success in flipping $2.56 into support would indicate the likelihood of further gains, but failure to breach the $2.40 resistance could result in a decline to $2.02, potentially returning XRP to its descending wedge pattern.