Cryptocurrency Market Update: Top Coins to Watch in the Current Bull Run

The recent surge in cryptocurrency prices has led to a strong rally among many old-school cryptocurrencies that performed well in 2021. With the altcoin season index rising to 88, here are some top coins to keep an eye on.

VeChain (VET): A Potential 115% Rise

VeChain was one of the best-performing cryptocurrencies in 2021, soaring to $0.27. Although it plunged during the crypto winter, the coin has now formed a triple-bottom pattern at $0.015, indicating a bullish outlook.

Key highlights of VeChain’s current performance include:

  • Rallying above the triple-bottom’s neckline at $0.5546 and the 78.6% retracement point at $0.061
  • Moving above the 50-week moving average, indicating bulls are in control
  • Potential to rise to the 50% retracement at $0.1413, about 115% above the current level

A drop below the support at $0.050 would invalidate the bullish outlook. Investors should keep a close eye on VeChain’s price movements to capitalize on this potential opportunity.

Zilliqa (ZIL): Strong Momentum and Bullish Indicators

Zilliqa is another crypto to watch during this bull run, thanks to its introduction of sharding technology. The ZIL token has bounced back, rising over the last five consecutive weeks, and has reached its highest level since April 1.

Key indicators pointing to a bullish outlook include:

  • Moving above the 50-week moving average
  • Relative Strength Index (RSI) climbing to 70, indicating strong momentum
  • Potential to continue rising, with the next target being $0.1, the 61.8% retracement level

JasmyCoin (JASMY): Bullish Patterns and Strong Momentum

JasmyCoin, commonly referred to as Japan’s Bitcoin, is another cryptocurrency to consider due to its strong momentum. The coin has formed a cup-and-handle pattern on the daily chart, characterized by a rounded bottom, which is one of the most bullish market patterns.

Additional indicators pointing to a bullish outlook include:

  • Formation of a golden cross pattern as the 50-day and 200-day moving averages crossed each other
  • Moving Average Convergence Divergence (MACD) indicator continuing to rise, signaling strong momentum
  • Potential to reach the next target at $0.0720, aligning with the cup’s depth and the distance from its upper side

As the cryptocurrency market continues to evolve, it’s essential to stay informed about the latest trends and updates. For more news and insights on the world of cryptocurrency, visit Global Crypto News.

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