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The altcoin industry has consolidated in a bearish outlook for the past five months despite the notable rise in demand from institutional investors. The increased crypto regulatory clarity in the United States has created an enabling environment for further altcoin growth.
For instance, the SEC has dropped investigations into Ethereum and Solana as alleged security assets. In addition, the SEC vs Ripple case recently concluded with XRP largely viewed as a commodity.
As a result, it is safe to assume that the highly anticipated altseason is on the horizon, with most altcoins on the verge of a bullish breakout.
Top Altcoins to Consider Ahead
ApeCoin (APE)
$APE Trendline Breaking out in 8H Timeframe✅#APE #APEUSDT #Crypto pic.twitter.com/Skhkgsu0Un
— ZAYK Charts (@ZAYKCharts) August 23, 2024
ApeCoin (APE), an ERC-20 governance and utility-based token, has grown to an established altcoin in the NFT space. The small-cap altcoin, with a fully diluted valuation of about $648 million and a daily average traded volume of around $33.8 million, is on the cusp of a bullish breakout from a weekly falling logarithmic trend.
According to crypto analysts ZAYK Charts, APE price will rally at least 51 percent in the near term if it consistently closes above the macro-falling logarithmic trend.
Avalanche (AVAX)
$AVAX has bounced back Nicely, and I'm Confident it will Breakout of Wedge sooner rather than later.📈
— Captain Faibik 🐺 (@CryptoFaibik) August 23, 2024
Once Breakout occurs, Expecting another 200% Bullish Rally, similar to the one in Nov-Dec 2023. ✍️#Crypto #AVAX #AVAXUSDT pic.twitter.com/qLnWWWD4nN
Avalanche (AVAX), a top-tier layer one (L1) chain with nearly $1 billion in total value locked and over $2 billion in stablecoins market cap, has become a web3 hub backed by institutional investors. For instance, Grayscale announced the launch of the Avalanche AVAX Trust on Thursday.
As a result, AVAX’s price could soon break out of the macro consolidation in the near term. According to crypto analyst Captain Faibik, AVAX price could rally 200 percent, similar to the last one between November and December 2023.
Cardano (ADA)
$ADA Falling Wedge formation on the Daily timeframe Chart..!!
— Captain Faibik 🐺 (@CryptoFaibik) August 23, 2024
Expecting Breakout soon, So Keep an eye on it. 🧐 #Crypto #ADA #Cardano pic.twitter.com/b4hilUZld8
Cardano (ADA), a top-tier layer one blockchain with $208 million in TVL, has been described as a sleeping giant by some while others view it as a zombie project. From a technical standpoint, ADA price has been approaching the apex of a falling wedge, thus signaling an imminent breakout to the upside.
Filecoin (FIL)
$FIL Falling Wedge Breakout is Done in 1D Timeframe✅
— ZAYK Charts (@ZAYKCharts) August 23, 2024
Now,Send to $8📈#FIL #FILUSDT #Crypto pic.twitter.com/bBpazjoML7
In the category of fast-growing layer one projects, Filecoin (FIL) can be included in the top list. Filecoin project has a TVL of about $62 million from a dozen DeFi projects.
If the Filecoin project continues to gradually attract investors ahead, the altcoin could soon double in value.