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Bitcoin’s resilience appears to be positively influencing altcoins, with several gradually posting gains. Maple Finance ($SYRUP) is making another attempt to reach a new all-time high in the coming days.
BeInCrypto has analyzed two other altcoins that investors should watch closely as they approach their all-time highs.
Maple Finance ($SYRUP)
$SYRUP is approaching a critical support level at $0.555, which is essential for driving the altcoin towards its all-time high ($ATH) of $0.657. Currently, $SYRUP is 18% away from reaching the $ATH, and securing this support could propel the coin towards further gains in the near future.
The Parabolic SAR indicator is positioned below the candlesticks, acting as support and signaling a potential uptrend for $SYRUP. This suggests that buying pressure may continue to build, helping the altcoin maintain its current position. If the trend persists, $SYRUP could break past key resistance levels and move upward.
$SYRUP Price Analysis. Source: TradingView
If the market conditions shift negatively or if $SYRUP faces selling pressure, the altcoin could drop to its next support level at $0.496 or even lower. A decline to this level would indicate a weakening of the current bullish trend.
SPX6900 ($SPX)
$SPX is currently trading at $1.34, 31% away from its all-time high ($ATH) of $1.77. The altcoin is encountering local resistance at $1.42, and if it surpasses this level, it will face further resistance at $1.55. These levels will determine the future price movement of $SPX.
The Parabolic SAR indicates that the uptrend is still intact, suggesting that $SPX could continue to rise. However, the altcoin will require strong support from broader market cues to breach the $1.55 resistance and secure it as a support level. This will be key to sustaining upward momentum.
$SYRUP Price Analysis. Source: TradingView
If investor sentiment turns negative, $SPX may experience selling pressure. A drop below the $1.25 support level would likely send the altcoin toward $1.14. Such a decline would invalidate the current bullish outlook, signaling a potential shift in market conditions.
Euler (EUL)
EUL has surged by 68% over the last two weeks, currently trading at $11.71. The altcoin is now 17.3% away from its all-time high ($ATH) of $13.74. This price increase suggests that EUL is gaining momentum, and its next target could be the $ATH if the bullish trend persists.
The Chaikin Money Flow (CMF) indicates strong inflows, supporting the positive momentum for EUL. With $11.02 secured as a support level, the altcoin has a solid foundation for further gains. If this trend continues, EUL could push toward its $ATH of $13.74 in the coming days.
EUL Price Analysis. Source: TradingView
However, if EUL holders decide to cash out, the altcoin could experience a downturn. A drop below the support levels of $11.02 and $10.60 would likely push the price down to $9.89. This would invalidate the current bullish outlook and signal a potential correction in the market.