With altcoins breaking the charts and their 52-week highs, the bullish momentum is crazy high in the market. Taking the altcoins to astronomical jumps as Bitcoin halving approaches, the altcoins giving 100% returns are increasing dramatically. Thus reflecting a boost in investors’ confidence.
Amidst the rising momentum, the coming week is expected to find more altcoins that can double their market price. So, let’s look at the top altcoins for 2x profits in the coming week.
Siacoin (SC)
Siacoin powers the Sia network, a decentralized cloud storage platform allowing users to rent spare hard drive space or purchase storage from others. By leveraging blockchain technology, Sia aims to provide a more secure, private, and cost-effective storage solution than traditional cloud services.
With growing concerns over data privacy and security in centralized systems, the demand for Sia is on the rise.
With a bullish reversal, the SC price is rising at a rapid pace, accounting for a jump of 96% in the last two weeks. Further, the bull run leads to two bullish engulfing candles in the weekly chart, ready to cross the 38.20% Fib level.
This breakout run can result in a price jump to the remarkable price jump of 100% to challenge $0.038 at the 78.60% Fib level.
Flare (FLR)
Flare is a distributed network that aims to bring Ethereum-like functionality to various non-EVM (Ethereum Virtual Machine) compatible blockchains. It focuses on enabling smart contracts on networks that do not natively support them, enhancing interoperability and functionality across the crypto ecosystem.
By facilitating smart contracts across different blockchains, Flare addresses a significant challenge in the crypto space, potentially attracting a wide user base and increasing its utility.
With the bullish reversal creating a rounding bottom pattern, the FLR price is teasing a breakout rally. Further, the rising trading volume supports the breakout possibility.
With the neckline at $0.046, the FLR price can potentially reach the $0.10 mark, accounting for more than a 100% jump in the coming week.
Cronos (CRO)
Cronos is the native cryptocurrency of the Crypto.com Chain, designed to power the ecosystem of financial services offered by Crypto.com. It aims to accelerate the global adoption of cryptocurrencies by enabling real-time, low-cost transactions.
As Crypto.com continues to expand its suite of products and services, including exchanges, debit cards, and payment solutions, the demand for CRO can increase significantly.
Similar to the other coins, the CRO price displays a successful retest phase, gaining momentum and heading to break the 50% Fib level. Further, the rising volume supports the bullish reversal rally.
Potentially, the CRO price can mimic the previous 96% jump from this retest to reach the $0.18 mark.
Conclusion
In the current bullish climate of the cryptocurrency market, investors are keenly watching for opportunities that promise significant returns. Siacoin (SC), Flare (FLR), and Cronos (CRO) stand out as top contenders for potential 2x profits in the coming week. Each of these altcoins demonstrates strong bullish signals in terms of technical patterns and underlying fundamentals.
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