Crypto markets are extremely bullish this week on renewed optimism for spot approvals Ethereum ETF. As market buzz grows, purchase prices for altcoins such as Avalanche (AVAX) and Bonk have reached double digits.
Bitcoin It also helped lift the market as it topped $70,000 on Monday. Despite the ongoing correction as discussed, several indicators (micro and macro) support the bullish thesis at $100,000.
Altcoins to buy for 100x profit in 2024
Many investors have already taken advantage of the directionless sideways trading of late April and early May to rebalance their portfolios. Additionally, the correction from the first quarter's highs showcased an opportunity to buy low while preparing for a big breakout later in the year, indicating a 2024 bull market.
However, it's never too late to enter. altcoins to buy Like Avalanche and Bonk. These two digital assets may not be enough to make someone a billionaire in 2024, but they could make a big contribution to a billionaire's potential cryptocurrency portfolio.
meme coin Like Bonk, it allows you to enter the market at an affordable price. Avalanche, on the other hand, is a well-known general-purpose blockchain platform for decentralized applications via smart contracts.
1. Avalanche (AVAX)
Avalanche prices have been on a strong upward trend over the past week, with bullish pressure driving the price higher. This momentum has been fuelled by growing investor interest and positive market sentiment, propelling the price to local all-time highs.
The altcoin rose from $35 to $40 levels, marking a strong 23% gain over the past week. AVAX price has soared over 9% and has been trading in the $30-$40 range over the past month with slight fluctuations.
Avalanche's partnership with Gamestarter to launch GameChain, a new layer-1 platform to simplify blockchain game development, could be a game-changer in the DeFi sector. GameChain, running on Avalanche, provides tools such as GameID, GameSocial, and GameHub to enhance user experience and community engagement.
This partnership will provide developers with an intuitive SDK and cross-bridge functionality, making it easier to create blockchain-based games.
After the announcement, Avalanche rose significantly, showing strong market support. This collaboration opens new possibilities for game creators and enthusiasts and highlights the growing integration of blockchain technology in the gaming industry. If this trend continues, AVAX could break through the $41 resistance level and approach $50, potentially reaching $70 by the end of the month.
2.BONK
The rise in the cryptocurrency market has driven notable gains across major altcoins, with Solana-based Bonk standing out as one of the top performers, posting a 33% price increase.
Analysis of the daily chart shows that the recovery has formed an inverted head-and-shoulders pattern, a chart setup that is often interpreted as a trough formation or a harbinger of a long-term recovery.
Amid market excitement over the possible approval of the ETH ETF, BONK price rose 7.8% today, breaking through the neckline resistance at $0.00003.
If Bonk price sustains its recent breakout, buyers will have a good footing to extend the rally to $0.000047 and then $0.0000712.
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As the outlook of the cryptocurrency market changes positively, selected altcoins will be the best opportunity to buy altcoins. The key to reducing risk is diversification, so it should include potential meme coins like Bonk and layer 1 projects like Avalanche. Although the protocols differ in many ways, they hint at the possibility of a major breakout in 2024.
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