As the price of Bitcoin (BTC) gradually climbs, market sentiment is once again optimistic. Bitcoin's strength has not only brought vitality to the entire cryptocurrency market, but also led to the recovery of a variety of altcoins. In the current market environment, which tokens are performing strongly?

First, Bitcoin’s strong recovery has injected confidence into the entire market. Starting from July 19, Bitcoin rebounded from the 50-day simple moving average ($63,792) and successfully broke through the $66,128 resistance level, showing that the recovery momentum is still intact.

Despite the bearish divergence on the RSI indicator, Bitcoin is expected to continue to rise in the short term and challenge the $70,000 mark.

SUN

Led by Bitcoin, a variety of altcoins also showed strong recovery momentum. Among them, Solana (SOL) rebounded on July 20 and successfully broke through the downtrend line, invalidating the forming descending triangle pattern and releasing a strong bullish signal.

In addition, tokens such as Internet Computer (ICP), Graph (GRT) and Bunker (BONK) also show good upside potential.

IGP

Specifically, after ICP broke through the downtrend line on July 15, the short force gradually weakened. Bulls are trying to push the price above $10.50 to continue the rally. If this resistance level is successfully broken, ICP is expected to rise to $11.25 or even higher.

GRT

GRT has been trading in a tight range between $0.22 and the 20-day SMA ($0.19) for the past few days. If the price can rebound off the 50-day SMA, the upside outlook will improve and it may touch the downtrend line.

BONK

Finally, BONK is fluctuating within a symmetrical triangle pattern, showing indecision between the bulls and bears. However, the bulls do not seem to have ceded much ground to the bears and the price is still expected to rise to $0.000036 and $0.000042. However, enthusiasts should also be wary of the risk of the price falling below the 50 SMA, which could trigger more selling.



(Personal opinion, not a recommendation)

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