The crypto market continues to remain volatile heading further into June bringing smaller altcoins to the top. Some of these tokens are even nearing their all-time highs propelled by bullish investors.
BeInCrypto has analyzed three such altcoins for investors to watch this week as they aim to form a new all-time high.
SPX6900 (SPX)
SPX price has surged nearly 32% this week, trading at $1.65. It’s now just over 7% away from breaching its all-time high (ATH) of $1.77. This impressive price movement shows the altcoin’s growing momentum, attracting attention from traders and investors seeking further gains in the short term.
The meme coin has been on a consistent rise for several weeks, with its price nearing a new ATH after nearly five months. If SPX manages to breach the $1.77 resistance, it could easily push beyond $1.80. This would signal a continued bullish trend, further fueling investor optimism in the coin’s potential.
However, if broader market conditions deteriorate before SPX reaches its ATH, the price could retreat. A fallback to the $1.55 support level would be the first sign of weakness. If this level is lost, SPX could drop to $1.40, invalidating the current bullish outlook and possibly reversing the recent upward trend.
Saros (SAROS)
SAROS is down 1.99% this week after reaching a new all-time high (ATH) of $0.237. Currently, the altcoin is 14.5% away from this peak, signaling potential consolidation or correction. Traders are watching closely for signs of a rebound as SAROS works to reclaim its previous highs.
Given Bitcoin’s recent jump, SAROS could benefit from the positive momentum in the crypto market. If this bullish trend continues throughout the week, SAROS could easily surpass its ATH of $0.237. Capitalizing on Bitcoin’s strength may push SAROS higher, offering a fresh opportunity for investors looking for altcoin growth.
However, if global geopolitical tensions increase and Bitcoin experiences a bearish pullback, SAROS may face similar declines. The strong correlation between BTC and SAROS (0.61) suggests that a drop in Bitcoin’s price could directly impact SAROS. In such a scenario, SAROS could fall to $0.192, invalidating the current bullish outlook and causing potential losses.
Sky Protocol (SKY)
SKY price has surged nearly 25% this week, trading at $0.0917. The altcoin is now 14.8% away from its all-time high (ATH) of $0.1054, signaling potential for further gains. This recent uptick has drawn attention from investors, increasing optimism for continued upward movement in the coming days.
Given SKY’s impressive performance in the past week, it is likely the altcoin will continue its upward trajectory and aim for its ATH of $0.1054. However, to reach this target, SKY must first breach the $0.1000 level and establish it as support. Securing this price point would provide a solid foundation for further growth.
If investor sentiment shifts and selling pressure increases, SKY could struggle to maintain support at $0.0915. A break below this level would likely send the price back down to $0.0799, invalidating the current bullish outlook.
Disclaimer
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