The cryptocurrency market is experiencing a phase of stabilization following a strong bullish start to September, providing altcoins with the opportunity to extend their gains. This momentum is noteworthy as several tokens approach their all-time highs, with Bitcoin’s strength potentially acting as a catalyst to propel broader altcoin growth.
Recent analysis by BeInCrypto focuses on three altcoins that are nearing their all-time highs and could make significant moves in the coming week.
Ethereum (ETH)
Currently trading at approximately $4,529, Ethereum is just under 10% away from its all-time high of $4,956, which was achieved towards the end of August. The leading altcoin has shown signs of recovery as it steadily ascends, positioning itself to retest this key level.
Last week, however, Ethereum encountered resistance at $4,749, which impeded its progress toward the ATH. The Parabolic SAR indicator is currently positioned below the candlesticks, indicating an active uptrend. Should investor support remain strong, ETH might successfully retest $4,749; a breakout above this level could push the price closer to $4,956.
Nonetheless, if Ethereum fails to maintain its upward momentum, falling below the $4,500 support could reverse recent gains. In such a scenario, the price might decline towards $4,331, introducing bearish pressure and potentially leading to a sideways movement.
Mantle (MNT)
MNT is trading at $1.60, positioning it less than 10% away from its recent all-time high of $1.76, which was established less than 72 hours ago. The altcoin has exhibited strong bullish momentum, demonstrating continued investor demand for short-term growth opportunities.
If MNT can sustain its upward trajectory, overcoming the $1.76 threshold should pose little resistance. A breakout here could quickly elevate the price beyond $1.80, reinforcing the altcoin’s bullish outlook and attracting further investments from those anticipating new record highs soon.
Conversely, there are downside risks should the altcoin begin to weaken. If MNT drops towards the $1.47 support, it could disrupt the bullish narrative and increase investor losses, leaving the token vulnerable to deeper declines.
Story (IP)
IP is currently 21.5% away from its all-time high of $11.84, but it still has potential to revisit this level. The altcoin remains firmly positioned above the $9.58 support, providing a solid foundation as investors keep a close watch on momentum for a potential upward move.
A bounce from this support level seems plausible, especially with the 50-day EMA indicating ongoing bullish momentum. Should IP successfully breach the resistance at $11.84, it could lead to a rally past the $12.00 mark, bolstering investor confidence and stimulating renewed market demand.
However, risks do exist if selling pressure mounts. Should investors choose to take profits, the IP price could slip below the $9.58 support, potentially descending further towards $8.58. Such a decline would invalidate the bullish outlook and reveal investor skepticism.
