Altcoins Set for Growth

In the evolving crypto landscape, as Bitcoin faces a dip below $61,000, a prevalent bearish sentiment is observed. However, amidst this market correction, altcoins are displaying signs of a potential upward trend. This article highlights several altcoins that are likely to breach the $1 threshold as they show promise of a bullish revival in the near term.

Pyth Network (PYTH)

Pyth Network garnered significant attention with an impressive surge of over 400% since the year's inception, holding strong even during bearish market conditions. Currently trading within a descending channel, the price is consolidating, suggesting a bullish breakthrough towards $0.5. If the current levels are sustained, a clear path to $1 may open up.

ZkSync (ZK)

As a newcomer in the trading arena, ZkSync is poised for notable price movements in the upcoming days. With the Relative Strength Index (RSI) showing an incremental trend, a parabolic recovery is anticipated towards the crucial neckline at $0.232 to $0.23. Successful consolidation at this level could pave the way for a retest of the all-time high above $0.3, particularly as market sentiments turn positive by late 2024.

Conflux (CFX)

Recent market developments led to a pullback in Conflux, signaling a temporary halt to its bullish trend. However, the RSI hints at a potential trend reversal with a focus on surpassing average levels. Despite prevailing bearish pressure and an expected minor pullback, CFX is projected to initiate an upward trajectory, aiming to breach the $0.21 resistance zone. Optimism in the market towards the end of 2024 could spur a renewed uptrend towards the coveted $1 mark.

Ethena (ENA)

Ethena's price journey has been marked by a steep descent from its initial highs near $1.5, followed by a consolidation phase. The token is now striving to reclaim the $0.5 level, with prospects of surpassing $0.65 by the end of the current month. A potential rebound, as indicated by the RSI nearing its bottom, may confirm a bullish path, potentially driving the price beyond $0.8 and setting the stage for a push towards the $1 mark.

Mantle (MNT)

Mantle's price movement breached a crucial ascending trend line, finding support just below the $0.8 mark. The price consolidation in this support zone is expected to culminate in a significant breakout. Given the RSI's proximity to the lower threshold, a rebound may trigger a fresh upward trend above the 50 mark, potentially propelling the price above $1 and towards the upper resistance near $1.5.