With Bitcoin price likely to cross the $100,000 mark this week, altcoins are on the verge of a bullish explosion. With the smart money flowing into the lower capitalization altcoins for greater returns, the breakout of such altcoins is becoming more common.
So, not sure which altcoin to buy this week for 2x gains? Don’t worry; we have given you the top 3 altcoins that are likely to deliver 2x returns this week.
Jito Finance (JTO) is looking at $7.47
Starting with JITO Finance, the long-term break of the resistance trend shows that a bullish rally is underway. With a reversal after the retest from the Fibonacci level of 23.60%, the altcoin is now closer to the psychological barrier of $4.
After the gold crossover, the 100 and 200 EMA are about to give a bullish crossover. As the recovery rally takes place, the altcoin is likely to complete a rounded bottom reversal with a $4.59 neckline.
With the positive alignment of the MACD and the signal line, the Fibonacci level set the price target at $6.2753 and $7.4749. That’s why the JITO token, with a huge upside of over 100%, is a must-buy this week.
Hedera (HBAR) Breakout puts $0.55 on radar
In the weekly chart, the HBAR price trend shows that there is a huge recovery rally. By crossing the Fibonacci level of 23.60%, the altcoin has crossed the 50 and 200 week EMA lines.
After the three consecutive bullish weeks, the uptrend has now reached $0.14. Despite the incredible 1.78% increase, with the reversal after the retest from the 23.60% level, the altcoin is likely to reach the $0.24 mark.
Additionally, the Fibonacci level of 78.60% at $0.35 is the next potential price target this week. The MACD indicator provides a buy signal for the HBAR token as it maintains a positive alignment with the wave of bullish histograms. Meanwhile, the 50-100 week EMA line is on the verge of a bullish crossover.
Given the positive signals and technical insights pointing to a buying opportunity, HBAR is likely to more than double its returns this week.
Polkadot (DOT) rally target $16
On the daily chart, Polkadot price action shows a declining wedge breakout value gaining strength. With a parabolic rise, the altcoin has risen from the psychological barrier of $4 to the current price level of $9.15.
The increased demand has resulted in a gold crossover within the 50-day and 200-day AMA. Additionally, the MACD and Signalize maintain positive alignment.
Based on the Fibonacci levels, the altcoin rally is challenging 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 the Fibonacci levels, the upside price targets are at $13.63 and $16.26. So, in a potential 2X rally, Polkadot price will continue the bull run.
Wondering if the uptrend in Polkadot will reach $100. Check out Coinpedia’s latest DOT price forecast for 2025-2030 targets.
