The ongoing Bitcoin bull market has sparked a major rally in the altcoin market as investors embrace the Fear of Missing Out (FOMO). This rally has helped to push the total market cap of all digital coins to over $1.8 trillion and analysts believe that it could retest its $3 trillion level soon. This article provides forecasts of some of the top altcoins like Hedera Hashgraph, IOTA, and Bonk.
Bonk price prediction
Bonk is the biggest meme coin in the growing Solana ecosystem with over $800 million in market cap. Launched in December 2022, the token has surged by more than 4,400%, making it one of the best-performing cryptocurrencies in the market.
Recently, however, the token has not done well as its price has plunged by more than 50% from its all-time high. Still, there are some positive signs that the token will bounce back in the next few weeks if this crypto bull run holds.
A look at the daily chart shows that it has formed a double-bottom pattern at $0.0000098. In most cases, this pattern is one of the most accurate bullish signs in the market. It has also moved above the 50-day and 25-day moving averages.
Therefore, the coin will likely continue rising in the coming days if it breaches the descending trendline that connects the highest swings since December 23rd. If this happens, the next price to watch will be at $0.000020, which is about 55% above the current level.
Hedera Hashgraph price forecast
Hedera Hashgraph is a growing blockchain that aims to become the best alternative to the likes of Ethereum and Solana. In addition to having superior speeds, Hedera also has a unique model in which its governance is done by some big companies like Google, LG, and ServiceNow. The developers also launched Stablecoin Studio, a new platform that helps developers build stablecoins.
HBAR price peaked at $0.1015 in January and then retreated sharply, bottoming at $0.066 on February 1st. It has now bounced back and crossed the important resistance point at $0.0762, the highest swing on August 15th. Further, HBAR price has jumped above the 25-day and 50-day moving averages while the Percentage Price Oscillator (PPO) has moved above the neutral point.
Therefore, the outlook for HBAR is bullish, with the next reference level being at $0.10, which is about 26% above the current level.
IOTA price forecast
IOTA is one of the oldest players in the crypto industry. Most recently, the developers have been focusing on Shimmer, a project that plays a similar role to Kusama in the Polkadot ecosystem. The goal is to have developers build applications and test them there before they move to the IOTA network.
Meanwhile, IOTA token has jumped from $0.1972 on January 23rd to over $0.2600. It has flipped the crucial resistance point at $0.2490 (December 11th low) into a support point. The PPO indicator is now moving above the neutral point. Also, it has formed a bullish flag pattern. Therefore, the outlook for the token is bullish, with the next point to watch being at $0.30.
Which are the best altcoins to buy?
Most altcoins will likely do well in this crypto bull run. Some of the top ones to have in mind are the likes of Solana, Injective, Chainlink, and Immutable X. Solana is the fastest-growing blockchain in industries like DeFi and DePIN. Injective’s Helium DEX is doing well, with its daily trading volume moving to the top 15. Chainlink, on the other hand, is the biggest oracle network in the world.
