- The altseason is gaining steam as demand for alternative cryptocurrencies jumped.
- Bitcoin and other cryptocurrencies have soared, pushing the total market cap hit $1.6 trillion.
- Some of the top altcoins to watch are VeChain, Helium, and Avalanche.
The altcoin season, popularly known as the altseason, is here, helped by the surging Bitcoin price. On Tuesday, the BTC price jumped to a high of $44,000 for the first time in over 18 months. As always, the surge has ushered a major rally in the altcoin industry. Some of the most notable gainers are ORDI, Celestia, and Casper. Here are the key predictions for Avalanche (AVAX) and VeChain (VET).
Avalanche Price Prediction
Avalanche (AVAX) price has been in a strong rally in the past few weeks. In this period, the token has jumped from a low of $8.65 in November to over $26, its highest level since August last year. Along the way, Avalanche has formed a golden cross pattern, where the 50-day and 200-day moving averages crosses each other.
In price action analysis, this cross is one of the most popular bullish signs in the market. Now, AVAX has crossed the key resistance point at $22.75, its highest point on February 2nd this year. It has flipped this resistance into a new support.
AVAX is now approaching the final resistance level at $30.73, the highest swing in August. At the same time, the Relative Strength Index (RSI) and the Stochastic Oscillator have moved to the overbought level.
Therefore, the outlook for Avalanche is extremely bullish, with the next point to watch being at $30.73. This price is about 17.8% above the current level. The stop-loss of this chart is at $22.7.
VeChain price forecast
VeChain price has also done well in the past few weeks as the altseason continues. The VET token has jumped from the year-to-date low of $0.014 to over $0.025. It has jumped by over 75% from the lowest level this year.
VET price has crossed the key resistance point at $0.021, the highest swing on June 1st. Most recently, it has jumped above the key level at $0.023, its November high. It has also moved above the 50-day and 200-day moving averages.
VeChain’s Relative Strength Index (RSI) has moved above the neutral point at 60. Therefore, the outlook for the coin will likely continue rising as buyers target the key resistance point at $0.032, the highest point in February. If this happens, the token will need to rise by over 31% from the current level.
Helium (HNT) price prediction
Helium price went parabolic on Wednesday as Solana tokens gained steam. The HNT token surged to a high of $5.05, the highest point since October 2022. It has jumped by more than 320% from the lowest point this year.
HNT token has also spiked above the 50-day and 100-day moving averages. It crossed the key resistance level at $3.44, the highest level in July. At the same time, the Relative Strength Index has moved to the extremely overbought point of 90.
Therefore, the token will likely continue rising as FOMO continues. If this happens, the next key level to watch will be at $6.
