As the bearish hold tightens over Bitcoin, the $65,000 level experiences a surge in supply waves. Amidst the dark clouds over crypto, the demand is shifting towards altcoins, which have a high potential for recovery if the market bounces back.
With a potential recovery in the coming days, let’s take a closer look at such high-potential coins that are ready for a comeback.
Top Altcoins To Watch Out: Jupiter (JUP)
With a falling wedge breakdown, the bullish recovery in the Jupiter price rises swiftly. Further, a bullish turnaround from the $0.68 support level, the altcoin has increased by 42% in the last three weeks.
However, the recent diagonal move with minor corrections under the broader market influence keeps it below $1. Due to the stagnancy, the MACD and signal lines are ready for a bearish crossover.
However, the daily RSI line remains above the 5% line, revealing a strong demand underneath. If the bullish trend continuation surpasses the 50% Fibonacci line at $1.32, the uptrend could hit $2 with the market recovery. Hence, Jupiter is a top altcoin with high recovery potential.
Helium (HNT)
With a trendline breakout, the HNT price is ready for a bullish trend to reclaim the lost levels during the Q2 correction. However, the altcoin price faces opposition at the 38.20% Fibonacci level at $5.610, resulting in the retest of the broken trendline.
With a successful post-retest reversal, the HNT price surges 7.78% overnight to form a bullish engulfing candle. However, the sideways movement between two Fib levels led to a bearish cross in the MACD and signal line.
Considering the broader market makes a bullish turnaround with Bitcoin surpassing $65,000, the altcoin price could hit the 78.60% Fib level at $8.514.
FLOW (FLOW)
Taking a bullish reversal from the crucial support at $0.50, the bull cycle starts early in FLOW. With a 35% rise in the last four weeks, the uptrend influences an uptick in the MACD and signal lines.
Furthermore, the weekly RSI line picks up pace as it spikes up from the oversold boundary line. However, the bull run is likely to hit a massive supply trove at the psychological barrier of $1. This is because of the declining trendline and the 23.60% Fib level confluence with the psychological mark.
A bullish breakout will pump the altcoin to the 50% Fib level at $1.60.
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