With Bitcoin regaining the $100,000 price support, the cryptocurrency market is clearly gearing up for further climbs. Many altcoins are following suit, with some even reaching new all-time highs.
The following analyzes three cryptocurrencies that reached all-time highs in the past 24 hours.
SUI
SUI price surged by 29% in the past 24 hours to $4.80. During today's trading session, SUI set a new all-time high (ATH) of $4.91. This significant increase reflects strong investor interest and market momentum, with SUI performing exceptionally well in the current bullish environment.
SUI has established a strong support level at $4.37, which will help it maintain value during potential pullbacks. As long as the price stays above this support level, SUI is expected to regroup and possibly break through new all-time highs.
SUI Price Analysis.
If SUI fails to maintain the support level at $4.37, the price may drop to $3.94. Falling below this level may signal a deeper correction, further pushing SUI towards the key point of $3.20. This scenario would invalidate the current bullish expectations for the altcoin.
OM
Since OM's price soared by 64% in one day, it has been in a consolidation phase for three consecutive weeks. Due to market uncertainty, traders have been quite cautious, leading to a lack of clear direction in the altcoin price movements. This consolidation phase is expected to break out soon.
In the past 24 hours, OM reached an all-time high (ATH) of $4.63, before retreating to $4.18. The recent price fluctuations show a shift in momentum, although the pullback indicates profit-taking phenomena. OM still has significant volatility, and its future price movements will depend on market sentiment.
OM Price Analysis.
OM may further decline, challenging its support level at $3.47. If altcoins can hold this key point, they may enter a consolidation phase. However, if they fail to stay above this support level, it may signal a deeper pullback, further probing lower price levels.
BGB
BGB continues to maintain a strong momentum of setting daily all-time highs, with the latest peak reaching $3.38, growing by 22% in the past 24 hours. This sustained rise shows strong demand and investor interest, indicating that altcoins remain an important player in the current market rebound.
Although BGB is expected to continue breaking historical highs, it may also experience a pullback if the overall market cools down. Market volatility could slow its upward momentum, especially if investor sentiment changes in the coming days or profit-taking becomes more common.
BGB Price Analysis.
A pullback could pull BGB's price back to $2.49, which may become a key support level. If altcoins can maintain above this level, they may gather upward momentum again. However, if BGB fails to hold this support level, the price could further drop to $1.79, invalidating the current bullish trend.