The cryptocurrency market has recently reached a peak, creating a new ATH of 104,088 according to Binance’s spot price. This is the highest price ever, affirming the value of Bitcoin and the Crypto market in finance. The market is more volatile, creating opportunities for Altcoins to rise. In this article, Trading Insight will discuss the potential price increases that could replace Bitcoin in the near future with cryptocurrency tokens BNB (BNB), Ethereum (ETH), Ripple (XRP), Dogecoin (DOGE), and Solana (SOL).

BNB (BNB)

In the past 24 hours, the cryptocurrency market has experienced significant volatility, causing the price of BNB to decline by -3.02% in 24 hours, with BNB reaching a low of 642$ and currently maintaining at 698$. As an exchange coin, it tends to have more stable trading and price compared to other Altcoins.

BNB Price

We have recorded the latest ATH price of BNB last week at 793.86$ according to Binance's spot price. This price boosts the confidence of BNB holders, making it possible for BNB to reach 1000$ in the near future.

The profit margins are not small, as BNB has recorded a profit of 8.90% in 7 days, 12.93% in 30 days, and a profit of 35% in 90 days. Over the past year, it recorded a growth of 191%, which are significant figures.

In the weekly frame, BNB has also broken out of the long-term downtrend line, escaping from the ascending triangle model. This is a tremendous driving force for BNB to continue to rise higher.

Additionally, the RSI and MA indicators are also expanding in various frames, and after a necessary adjustment, the market is likely to rise high with no significant selling pressure.

It is undeniable that BNB has potential and significant benefits. Besides the profits from the rising price of BNB, it also provides holders with services that Binance offers. The general sentiment of holding and the long-term potential of Binance could lead this coin to have much greater price potential than it does now.

Ethereum (ETH)

ETH is currently maintaining a price of 3,754$ after testing the price above 4,000$ along with market adjustments. ETH is the largest Altcoin by market capitalization at 452.617 billion dollars. The daily trading volume has also been recorded at over 67.432 billion dollars in the past 24 hours.

In the weekly frame, similarly, in March 2024 and May 2024, it created a significant resistance area, making it difficult for ETH to break through. Currently, ETH has escaped that psychological support zone, surpassing 4000 dollars. However, the resistance at 4100$ also needs to be broken and re-established.

The general sentiment of FOMO for Bitcoin is gradually cooling down and is shifting towards Altcoins, with ETH being the top priority as it meets all the requirements such as: safety, stability, high returns, and sustainable trends. Moreover, ETH has already been approved for a SPOT ETF, so in the future, ETH may revisit its ATH of 4868 and eventually exceed 5000$.

In the short term, ETH will need to adjust with the market to balance prices and then rise again. Once stability is achieved, it will continue to increase.

Ripple (XRP)

XRP is the coin with the most incredible growth recently, with a 300% increase over the past 30 days. It is the 4th coin in the cryptocurrency ranking with a market cap of 124.34 billion dollars. XRP is also an older coin that, upon breaking out, has attracted a significant number of new investors.

XRP reached a new all-time high of 2.90$. In the weekly frame, you can observe that XRP has broken out of the pennant formation. It is essential to note the extremely long sideways phase of XRP which lasted nearly 3 years, testing investors' patience. It then surged from 0.72$ to 2.90$ in just two months.

With Gary Gensler resigning as SEC chairman, XRP has attracted significant attention from investors and received support from long-term investors who have previously focused on this cryptocurrency.

In the short term, XRP will need to adjust its price after reaching a new ATH and is currently maintaining at 2.17$. It may test the nearest support level at 1.9$ and look for a new ATH above 3$. It is essential to monitor long-term trends and check the volume carefully if investing.

SOLANA (SOL)

SOL is a coin that represents the most stable ecosystem in the cryptocurrency market over the past two years. It has recorded a very high average growth rate, especially for memecoins in the SOLANA ecosystem. This has also allowed SOL to maintain a good price in the market since its launch.

In the past month, SOL reached a new ATH of 264$, but it seems that the bears are reacting quite strongly, retracting in the weekly and monthly frames. It could form a double top if SOL returns below the 120$ range. However, this seems difficult as this ecosystem has maintained stability and positivity over a long period.

Short-term indicators show that SOL needs to be adjusted and tested again in the 180-220$ range to consolidate before continuing the current upward trend. The highest target that could be reached is a new ATH in the 300$ range.

The sentiment of SOL holders is very positive in the long term, and all necessary transactions in this ecosystem require the use of SOL. That is why the potential of SOL can be sustained on a long path with significant upside potential.

Dogecoin (DOGE)

In this volatile market, as the price increase begins, DOGE is the first name mentioned as it has maintained a price increase over the last three months and received support from billionaire Elon Musk and President Trump, with very strong FOMO from the market towards this meme coin.

After a very long accumulation process for DOGE, similar to XRP, it has seen extremely significant growth, with a recorded increase of nearly 300% over the past 30 days.

The indicators are also showing that the volatility is widening, and DOGE could achieve new ATHs as well as a potential price increase to 1$ in the future. In the short term, DOGE might test the price range of 0.28-0.35$ to balance with the market and consolidate before continuing its trend.

Particularly, the stable and excited sentiment of the market towards this cryptocurrency coin, as the leading memecoin, brings incredibly high profits, allowing this coin to maintain a stable price and significant growth potential in the future.

Summary

All the coins summarized above by Trading Insight are for reference only; please take time to research and study. Trading Insight will provide all necessary information and knowledge for you to have a better perspective on the current and future market. Don't forget to follow and interact with Trading Insight! This is not investment advice; please read carefully before investing.