With the bullish market starting, investors and enthusiasts are on a continuous quest to identify promising altcoins that could yield substantial returns. As Bitcoin edges closer to a new all-time high, with sights firmly set on a $69,000 breakout, the cryptomarket’s overall valuation inches towards an astounding $2.50 trillion milestone.
Amidst this upside run, meme coins such as DOGE, SHIB, and PEPE have embarked on a bullish rally, capturing the imagination and investment of the community.
So, as the buyers are controlling the market, let’s delve into the top new altcoins poised to make significant impacts that could boost your investment portfolio in this dynamic market.
Oasis Network (ROSE)
ROSE, the native token of the Oasis network, has witnessed a steady recovery for the past few weeks under the influence of an ascending trendline. The dynamic support has provided a suitable demand price during pullback, a key behavior for sustainable recovery.
Amid the Feb-end recovery in the broader market, the ROSE price projected a 32% weekly surge to breach the key resistance of $0.132, offering another stepping stone for the prolonged rally.
Sustaining above the $0.13, the ROSE coin may rise to challenge the potential target of $0.20.
PYTH Network (PYTH)
The last month’s recovery in PYTH coin price can be traced using a rising channel pattern. This chart setup has uplifted the asset from $0.21 to the current trading price of $0.65, accumulating massive gains.
The sellers are currently influencing this coin, as evidenced by the minor correction in the daily chart. With sustained selling, the coin price may plunge another 8% into retesting the long-coming support trendline.
With the broader market bullish and a history of accumulation at a dip, the PYTH price is likely to rebound from $0.55. The possibility of the next recovery leap may surge the price to a $0.76 breakout and reach the $1 psychological mark.
Shiba Inu (SHIB)
The meme cryptocurrencies have emerged as star performers of March, having a notable contribution in uplifting the global crypto market cap to $2.5 Trillion. SHIB, the second largest memecoin, has projected a parabolic growth in the daily chart, rallying from $.00000651 to $0.00003941 within a month.
Analyzing this massive rally in the weekly chart shows the formation of a well-known bullish reversal pattern called the rounding bottom pattern. In theory, this chart setup indicates the maturity of a downtrend and the emergence of a new recovery trend.
Under the influence of this pattern, the Shiba Inu price may extend its recovery trend to a potential of $0.000066, followed by $0.00010477.
BONK (BONK)
The last correction trend in Solana-based memecoin ended in Late January at $0.000009574 support. The positive turnaround from this launchpad has propelled the coin to a moonshot to reach a new All-time High of $0.00004749.
However, the BONK is currently witnessing a post-rally correction, which plunged its value to the $0.000030 mark. If the healthy retracement manages to recuperate the exhausted bullish momentum, the potential buyers may find dip opportunities at fast-moving daily EMAs(20 and 50).
As per the Fibonacci retracement tool, the renewed recovery may chase the potential target of $0.000032 and $0.0000462, aligned with the above Fib levels, respectively.
Gala Games (GALA)
Over the past 18 months, the GALA coin has witnessed a steady downtrend under the influence of a falling wedge pattern. While the converging trendlines limited the recovery attempt from buyers, in theory, it’s a pattern known to Signal the exhaustion of bearish momentum.
Amid the recent recovery trend in the market, the GALA price gave a decisive breakout from the pattern’s overhead resistance on 26th February. The post-breakout surged the altcoin 42% to reach the current trading price of $0.046. With sustained buying, the GALA price should chase theoretical targets of $0.070, followed by $0.10.
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