Bitcoin's Historic $117K Breakthrough: Why This Could Be Just the Beginning of a Multi-Year Bull Run and Which Altcoin Will Lead It?

Bitcoin has surged to an unprecedented $117K, igniting excitement in the crypto community. This milestone could mark the start of a prolonged bull market. The focus now shifts to identifying which altcoin might spearhead this growth phase. This article delves into the potential candidates primed for significant gains in the coming years.

Jupiter's Market Outlook: From Recovery Glimpse to Critical Levels

JUP performance saw a decline of just over 1% in the last month, while the six-month performance recorded a drop of 39.68%. A recent weekly rebound of nearly 7% suggests short-term recovery within a trading range of $0.337 to $0.573. Price movement during these periods highlights significant volatility, with a dominant bearish influence evident in the longer view despite some recent positive momentum.

Current price action is confined between firm support near $0.21 and initial resistance at $0.69, with secondary resistance around $0.92. The market shows mixed signals as short-term gains confront a broader bearish trend, creating a balance between bulls and bears. An RSI near 60 suggests slight buying interest, yet ongoing caution is warranted given the significant six-month decline. Trading ideas focus on monitoring activity around the $0.21 support for potential bounce entries, while a break above $0.69 could signal further upward movement.

Sei Coin Shows Recovery After Extended Downturn

SEI surged by over 56% in the last month, contrasting with a 16% decline over the past six months. Recent performance includes a nearly 20% rise in one week, indicating renewed trader interest. The price action has been volatile, featuring bursts of rallying followed by cautious retreats, reflecting mixed market sentiment among altcoins.

Current price action centers around a range of $0.18 to $0.36, with key technical levels attracting attention. Nearest resistance at $0.44 is crucial for bulls aiming for further gains, while support at $0.08 offers a safety net for buyers. A second resistance at $0.61 warrants close observation for signs of strength or weakness. Although bulls seem dominant, the lack of a clear trend necessitates careful trading. Strategies include accumulating within the current range and preparing for potential breakouts above $0.44 while monitoring for shifts in momentum near support levels.

Ondo: Mixed Signals Amid Short-Term Recovery and Long-Term Decline

Last month ONDO saw almost no change with a modest 0.15% gain while the six-month period revealed a clear 29.26% drop. Weekly results, however, spiked with a 12.96% increase, hinting at brief investor optimism. Price levels have trended within a narrow band recently, even as the longer view exposes caution among market participants. Limited monthly movement contrasts with the sharper downturn over six months, suggesting that immediate sentiment may lean toward recovery, but the overall trend remains weak due to prolonged selling pressure.

Current trading levels for Ondo show a confined range between $0.62 and $0.92, with resistance at $1.07 and support at $0.47. The coin demonstrates short-term momentum with a 12.96% increase over the past week, while the one-month price change remains nearly flat at 0.15%. Slight bullish signals from the momentum indicator and Awesome Oscillator suggest building buying pressure, but the market has not reached extreme conditions. There is a mild uptrend, and bulls might target the first resistance on moves upward, while bears could use the $0.47 support level to exert pressure if prices decline. Traders should focus on moves between these levels, watching for breaks and consolidating strategies accordingly.

Conclusion

The breakthrough signals the start of a long-term upward movement. With Bitcoin leading, attention turns to promising altcoins. JUP, SEI, and ONDO show potential to capitalize on this bullish market. Their unique features and solid developments position them as frontrunners. This period of growth offers significant opportunities for these coins to advance and capture interest.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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