With Bitcoin successfully reclaiming $100,000 as support, many altcoins have shot up on the daily chart. This brought gains to some altcoins as they reached a new high on the back of the bullishness.
BeInCrypto has analyzed three crypto tokens that formed a new all-time high (ATH) today and what to expect from them in the future.
Meow (MEOW)
MEOW emerged as one of the best-performing altcoins, rising by 64% in the past 24 hours. This impressive rally pushed the price from under $0.0050 to $0.0077, making it a standout in the market.
During this surge, MEOW also hit a new all-time high at $0.0077, marking its fifth ATH in the past week. If this uptrend persists, the meme coin could reach $0.0100, further solidifying its bullish momentum.
However, unexpected profit-taking by investors could trigger a correction. If this occurs, MEOW may fall to $0.0050, negating the bullish outlook and wiping away recent gains noted by the meme coin.
Gate (GT)
GT price increased by 9.5% this week, reaching a new all-time high (ATH) of $19.89. This continued trend of record highs highlights strong investor confidence and growing demand for the altcoin.
If the upward momentum remains intact, GT could claim $20.00 as a support floor. Successfully doing so would set the stage for a further rise to $25.00, reinforcing its bullish trajectory.
However, a potential reversal could disrupt this trend. In such a case, GT might fall back to $18.12, invalidating the bullish outlook and erasing recent gains.
Morpho (MORPHO)
MORPHO price surged 31% in the past 24 hours, climbing to $4.00. This impressive rally saw the altcoin achieve a new all-time high (ATH) of $4.13, signaling strong momentum in the market and increased investor interest.
If the uptrend persists, MORPHO could break additional ATHs in the coming days, driven by heightened demand and favorable market conditions. Sustaining its momentum above the current support levels will be key to maintaining the bullish trajectory.
However, profit-taking by investors poses a significant risk. If selling pressure intensifies, MORPHO may lose the crucial support at $3.58, leading to a potential drop to $2.26, which would invalidate the bullish outlook and reverse recent gains.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Read the full article here
