Smart Money Picks: Top Altcoins That Could Double This Week
BASED
BULLISH
RLY
DOT
JTO
With the Bitcoin price likely to cross about the $100,000 mark this week, the altcoins are on the verge of bullish explosion. With the smart money flowing into the lower-cap altcoins for bigger returns, the breakout rally in such altcoins is occurring more frequently.
So, are you confused about which altcoin to buy this week for a 2x gain? Worry not; we have brought you the top 3 altcoins likely to give 2x returns this week.
Jito Finance (JTO) Eyes $7.47
Starting with JITO Finance, the long-coming resistance trendline breakout shows a bullish rally at play. With post-retest reversal from the 23.60% Fibonacci level, the altcoin is now inching closer to the $4 psychological mark.
Following the golden crossover, the 100 and 200 EMA are on the verge of giving a bullish crossover. As the recovery rally takes place, the altcoin is likely to complete a rounding bottom reversal with the neckline at $4.59.
With the positive alignment in the MACD and signal line, the Fibonacci level pinned the price target at $6.2753 and $7.4749. Hence, with a massive upside of more than 100%, the JITO token is a must-buy this week.
Hedera (HBAR) Breakout Puts $0.55 on Radar
In the weekly chart, the HBAR price trend shows a massive recovery rally at play. Surpassing the 23.60% Fibonacci level, the altcoin has exceeded the 50-week and 200-week EMA line.
Following the three consecutive bullish weeks, the uptrend has now reached the $0.14. Despite the incredible back of 1.78%, with the post-retest reversal from the 23.60% level, the altcoin is likely to reach the $0.24 mark.
Beyond this, the 78.60% Fibonacci level at $0.35 is the next potential price target this week. The MACD indicator gives a buy signal for the HBAR token as it maintains a positive alignment with the surge of bullish histograms. Meanwhile, the 50-100-week EMA line is on the verge of a bullish crossover.
Hence, with positive signals and technical insights signaling a buying opportunity, HBAR is likely to give more than 2x returns this week.
Polkadot (DOT) Rally Target $16
In the daily chart, the Polkadot price action shows a falling wedge breakout value gaining momentum. With a parabolic rise, the altcoin has increased from the $4 psychological mark to the current price level of $9.15.
The increased demand has resulted in a golden crossover within the 50-day and 200-day AMA. Furthermore, the MACD and Signalize are maintaining a positive alignment.
Based on the Fibonacci levels, the altcoin rally challenges the 78.6% Fibonacci level at $9.25. However, the broader market recovery is likely to continue the bull run in Polkadot.
Based on the price action and Fibonacci levels, the upside price targets are at $13.63 and $16.26. Hence, with a potential 2X rally, the Polkadot price will continue the bull run.
Curious to know if the uptrend in Polkadot will reach $100. Check out Coinpedia's latest DOT price prediction for 2025-2030 targets.
