While the cryptocurrency market is recovering from weekend losses, some altcoins have already started to rise. Investor support and gradual recovery have helped these tokens avoid further declines and instead trigger rallies.
BeInCrypto has analyzed three altcoins that have reached new all-time highs today and explored their futures.
Pi Network (PI)
The price of Pi Network has risen 19% in the last 24 hours, reaching an all-time high of $1.98 during the intraday rally. However, it has since declined slightly and is currently trading at $1.90. This price movement emphasizes Pi's volatility amid market volatility and investor interest.
Despite the recent decline, the Pi Network is receiving strong support from investors. This coin has garnered significant attention, particularly due to its controversial mining method. If this interest continues, Pi could see its price rise above $2.00, setting a new all-time high.
However, if Pi fails to maintain the $1.59 support, it could face further declines. If it falls below this support level, the price could drop to $1.43, with a crucial support at $1.19. Losing these levels would invalidate the bullish outlook and extend the downtrend.
Kaito (KAITO)
The price of KAITO has risen 28%, reaching $2.12, and briefly recorded a new all-time high of $2.17 during the intraday rally. This significant increase highlights strong investor interest and the potential for continued growth. The performance of this altcoin is promising, and if the bullish momentum continues, it suggests an upward trajectory.
Since its launch last week, KAITO has garnered investor attention, and a more optimistic sentiment towards the token is growing. If the current uptrend continues, KAITO could rise to $2.50 within a few days, further strengthening its position in the market.
However, if KAITO fails to break above $2.17, it could face a downtrend. If it fails to breach this resistance, the altcoin could drop to $1.86 or even $1.71. Such a decline would invalidate the current bullish outlook and wipe out recent gains.
Staika (STIK)
Another altcoin, Staika (STIK), has shown impressive movement, reaching a new all-time high (ATH) of $5.41. Despite the widespread bearish market conditions, the cryptocurrency token has firmly maintained above $5.05, preventing further declines. This resilience demonstrates strong investor confidence in further growth.
This is STIK's second ATH in 7 days, indicating a potential breakout. If altcoins maintain this bullish momentum, they could soon exceed $5.60, setting a new resistance level.
However, if STIK fails to break above the $5.41 resistance, it could enter a correction within the $5.41 to $5.05 range. If it fails to maintain the $5.05 support level, the bullish outlook would be invalidated, and the price could drop to $4.58. Market sentiment will be crucial in determining the next move.
