crypto.news
There are signs that the crypto market bull run is about to begin, as Bitcoin’s cup-and-handle pattern nears a breakout.
As crypto.news predicted, Bitcoin (BTC) could jump to at least $143,000 now that it has moved above the upper boundary of the cup-and-handle formation.
Bitcoin is also on the verge of breaking above the 8-year resistance trendline, a move that could ignite a broader crypto bull run. This article highlights the top altcoins to watch ahead of that potential breakout.
Hyperliquid
Hyperliquid ($HYPE) is among the top altcoins to consider as the bull market gains traction. It has already surged 342% from its April low and is currently trading near its all-time high.
$HYPE has rallied thanks to its growing dominance in the perpetual futures market. Data shows Hyperliquid processed over $245 billion in trading volume over the past 30 days. The protocol has also become one of the most profitable players in the decentralized exchange space, generating $65.5 million in revenue in May, up from $43.3 million in April.
The $HYPE token is likely to continue climbing as its trading volume, revenue, and staking yield increase. It also invalidated a double-top pattern at $39.96, signaling further upside potential.
Uniswap
Uniswap ($UNI) is another top altcoin to watch, driven by its expanding market share in decentralized finance. The protocol processed over $92.8 billion in volume over the past 30 days, generating $95 million in fees in May, up from $60 million the previous month.
Uniswap’s Unichain network has emerged as one of the fastest-growing chains in the crypto ecosystem. Its DEX volume reached over $9.5 billion in the past 30 days, while its total value locked (TVL) in DeFi is nearing $1 billion. Unichain’s stablecoin market cap has also surged to $320 million.
Technically, the $UNI token has broken above the key resistance level at $7.5410, the high from May 11 and May 28, and the 23.6% Fibonacci retracement level. A sustained move above this zone could open the door to the 50% retracement level at $11.97.
Ethereum
Ethereum ($ETH) price is another token to buy as spot $ETH ETF inflows jump. It has also formed a bullish flag pattern, comprising of a vertical line and a rectangle that resembles a hoisted flag.
The upper limit of the flag is $2,743, and the lower limit is $1,386, creating a measured move of $1,357. Adding this to the breakout level at $2,740 gives a target of approximately $4,100.
Ethereum has also formed a golden cross pattern, where the 50-day moving average crosses above the 200-day moving average. This is a classic bullish signal that further supports the case for continued upside.
