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Altcoins are back in the spotlight as renewed momentum flows through the cryptocurrency market. While Bitcoin is not fully stabilized, altcoins are finding their way to their ATHs. These ratings indicate growing investor confidence and the potential for explosive moves to come.
BeInCrypto analyzed three such altcoins that are near and can reach all-time highs.
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kidney (kidney)
RAIN is trading in an expanding rising wedge, indicating a bullish structure. Price continues to form higher highs and higher lows while respecting trend line support and resistance. Currently, RAIN is consolidating below the upper channel resistance near its all-time high at $0.01009.
Momentum remains constructive as the Money Flow Index remains above the neutral line at 50, moving conditions from neutral to bullish without overheating. It looks like recent declines Corrective, not bearish.
If the price remains above $0.00930, a retest of $0.01009 is likely. Every day close above this support RAIN can open at ATH at $0.0105, which is 11.8% away from reaching. This will also allow the altcoin to achieve targets between $0.01150 and $0.01200. Failure to hold $0.00930 may lead to $0.00840, invalidating the bullish pattern.
Canton (CC)
Another of the altcoins that is close to all-time highs is CC, which is showing a recovery after a corrective phase, with the price currently trading near 0.1493. The structure reflects lower lows above the 0.1139 low, That indicates the stability of the trend. The price remains above the key horizontal support at 0.1331, maintaining the short-term bullish bias.
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Momentum is improving as buying pressure returns after the recent pullback from 0.1646. The CMF recovered towards the neutral line, indicating a return of capital flow. The level at 0.1483 acts as immediate support, while a firm hold above 0.1493 reinforces the possibility of a continuation towards the previous highs.
The price outlook tends to be bullish until CANTO stays above 0.1331. A daily close above 0.1646 will likely trigger a rally towards the all-time high of 0.1778, which is 19% away from reaching it. Failure to hold 0.1331 will invalidate the bullish setup and expose the downside towards 0.1259 or $0.1139.
kite (brain)
KITE IN Short-term bullish structure After a strong and impulsive movement from 0.0897, respecting the rising trend line as support. The price is currently consolidating around the key resistance at 0.1161, indicating a healthy break after the expansion. The overall structure of the market remains optimistic above 0.0996.
Immediate support is clearly marked at 0.0996, followed by a deeper invalidation level at 0.0897. On the upside, 0.1161 is the trigger level. The daily close above 0.1161 opens the way directly to the all-time high at 0.1333, from which KITE is 15.8% away.
A clean break above 0.1333 could extend towards 0.1510. The correlation of KITE with Bitcoin is currently at -0.62. This shows that the altcoin is not following the steps of BTC, which helps the recovery of KITE. However, if KITE fails to hold the price above $0.1161, it may fall to 0.0996, which will probably cause a corrective move towards 0.0897, completely invalidating the bullish hypothesis.
