Santiment Reveals Top Altcoins To Watch This Week

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Written By Pinang Driod

Bitcoin (BTC) price is retesting the breakout from a micro triangular pattern following Monday’s bullish breakout beyond $72,500. Trading around $71k on Tuesday during the early London session, Bitcoin price is well-positioned to reach a new all-time high in the coming days. 

According to a respected trader Peter Brandt, Bitcoin price is forming Hump Slump Lump Dump (HSLD) pattern, thus expecting a rally towards $80k before dropping below $70k after the halving event. The prediction is also similar to what Arthur Hayes said in his latest blog that Bitcoin and crypto prices will generally slump around the halving event.

Ethereum’s Bear Trap Confirmed 

Ethereum price against Bitcoin recently dropped to a fresh multi-year low and has been attempting to regain crucial support. According to Brandt, the recent ETH/BTC price drop is a bear trap that will result in their liquidation. 

Furthermore, the Ethereum network has remained the top alternative coin to Bitcoin among most institutional investors. Additionally, the United States Securities and Exchange Commission (SEC) will be issuing a major ruling on spot Ether ETFs, with most anticipating an imminent approval.

Altcoins to Watch Out 

With Bitcoin dominance showing inevitable signs of reversal in the coming weeks, the crypto cash rotation is expected to favor the altcoin industry. According to an on-chain analysis by Santiment, Ethereum’s ERC20 tokens gained about 8.1 percent last week on average. 

With the notable growth, Santiment pointed out three crypto projects – Toncoin (TON), Lido DAO (LDO), and Ethena (ENA) – likely to register higher gains ahead.

Also Read : ENA Price Prediction: Blockbuster Breakout Rally Aims For $2

Toncoin (TON)

Toncoin (TON) is a fast-growing layer one blockchain leveraging the Telegram social platform. Remarkably, TON has overtaken Cardano (ADA) and is currently in the top ten most valuable digital assets. 

The Toncoin project recently unveiled a web3 mobile dubbed Universal Basic Smartphone (UBS). The Toncoin network has also registered palpable growth in the meme coin industry through tap-to-play projects such as Notcoin (NOT), and Hamster Kombat.

As a result, TON’s price is up over 25 percent in the past 24 hours to trade above $6.83 on Tuesday.

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