Ripple has emerged as one of the best-performing cryptocurrencies in this bull run, jumping by almost 500% from its lowest level in November.
Ripple’s (XRP) jump has triggered a strong rally among many old-school cryptocurrencies that performed well in 2021. Here are some of the top coins to watch now that the altcoin season index has risen to 88.
VeChain | VET
VeChain (VET) was one of the best-performing cryptocurrencies in 2021, soaring to $0.27. Like other old-school coins, it plunged during the crypto winter and has not recovered fully.
VeChain has traded between the support at $0.015 and resistance at $0.055 for nearly three years. It formed a triple-bottom pattern at $0.015, which is one of the most bullish patterns in the market.
VET has now rallied above the triple-bottom’s neckline at $0.5546 and the 78.6% retracement point at $0.061. It has also moved above the 50-week moving average, indicating that bulls are in control.
Therefore, the VeChain token could rise to the 50% retracement at $0.1413, which is about 115% above the current level. A drop below the support at $0.050 would invalidate the bullish outlook.
Zilliqa | ZIL
Zilliqa (ZIL) is another crypto to watch during this bull run. Like VeChain, it is an old-school coin that gained popularity for introducing sharding technology. Sharding is used by blockchains like Near Protocol and MultiversX to improve performance by breaking blocks into smaller shards.
On the weekly chart, the ZIL token has bounced back, rising over the last five consecutive weeks. It has reached its highest level since April 1 and moved above the 50-week moving average.
Zilliqa’s Relative Strength Index has climbed to 70, indicating strong momentum. Therefore, the coin will likely continue rising, with the next target being $0.1, the 61.8% retracement level.
JasmyCoin | JASMY
JasmyCoin (JASMY), commonly referred to as Japan’s Bitcoin, is another cryptocurrency to consider due to its strong momentum. On the daily chart, it has formed a cup-and-handle pattern, characterized by a rounded bottom, which is one of the most bullish market patterns.
The coin has also formed a golden cross pattern as the 50-day and 200-day moving averages crossed each other. Additionally, the MACD indicator continues to rise, signaling strong momentum.
The outlook for Jasmy remains bullish, with the next target at $0.0720. This aligns with the cup’s depth and the distance from its upper side.
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