As the bull market resumes its upward trajectory, many traders and investors will be thinking about how to maximize their potential gains. $BTC may not rise more than 1x from here, whereas some altcoins could far outperform this. Are $AVAX, $TON, and $S worth a punt?
A revival ahead for $AVAX?
Source: TradingView
The daily chart for the $AVAX price reveals a breakout of the descending trendline. The price has increased as much as 24% since this breakout and is currently battling with the upper band of resistance at $21.77. If this can be broken, and confirmed above, the local high at $26.76 is the obvious target. Getting above this level, and also breaking the descending trend on the RSI, could spark a decent revival for $AVAX going into the rest of the bull market.
$TON sitting on strong support
Source: TradingView
$TON has a similar price chart to $AVAX. The price has recently broken through the descending trendline and the bulls are currently managing to keep the price above the support band. Targets will be higher highs above $3.70 and $4.20. These could be reached quite quickly on the next crypto surge.
Coming bounce for $S?
Source: TradingView
Sonic $S is more of a long shot, given its much lower position of 75 on the market cap rankings. Also, there is much less data to go by. That said, it can be seen that the price has come down to the strong support at $0.33, and is looking as though it might bounce from here. Nevertheless, falling through this band could spell a lot of hurt to come for $S bulls. To the upside, getting above $0.368 would be an important achievement.
Caution advised
While all three of these altcoins have the potential to outperform $BTC going into the final stage of the bull market, all of them are a long, long way from their previous all-time highs. At this stage of the bull market this is quite a red flag. If investors are looking at any of these for anything more than a short to medium-term investment, much caution is advised. In addition, there are possibly better altcoin investments out there. Do your research.
