Crypto Market Set for Possible Rebound: Key Coins to Watch If Bitcoin Hits $100K

Jakarta, Pintu News – As the cryptocurrency market continues to evolve, recent analyses suggest that a selection of blue-chip crypto coins may be on the verge of a significant rebound if Bitcoin can surge from approximately $80,000 to $100,000 before the weekend. This anticipated price movement is increasingly plausible as the Federal Open Market Committee (FOMC) concludes its ongoing two-day meeting this week.

Promising Coins in a Bullish Market

If Bitcoin manages to achieve this milestone, several cryptocurrencies worth monitoring include Pepe (PEPE), Tron (TRX), and BNB. Here’s an overview of each coin’s potential based on current market trends and technical analyses.

Pepe (PEPE)

Pepe (PEPE) is emerging as a strong candidate for recovery, especially if Bitcoin surpasses the $100,000 mark. Technical analysis of PEPE indicates a solid bullish trend in the coming weeks.

This month, PEPE’s price plummeted to a low of $0.000005920, which is significant as it aligns with similar lows from May and August of the previous year, suggesting a possible double-bottom pattern. This pattern typically signals a potential price reversal, with a neckline positioned at $0.00002835, representing an almost 300% increase from its current value.

Moreover, PEPE is also forming a falling wedge pattern, which has encouraged major investors or “whales” to accumulate the token. The combination of whale purchases and these positive technical signals indicate a significant upward movement may be imminent.

Tron (TRX)

Developed by Justin Sun, Tron (TRX) is considered one of the most promising cryptocurrencies in the current market climate. The potential bullish trajectory of TRX is primarily supported by its strong fundamentals, particularly the plans for creating wrapped TRX on the Solana network.

Tron has been actively burning tokens, leading to a negative annual inflation rate, which decreases the circulating supply and can increase the token’s value over time. Recently, Tron has also emerged as a top-performing platform in the crypto space, only second to Tether, particularly noted for a spike in staking yields.

Moreover, the recent accumulation of TRX tokens by Donald Trump’s World Liberty Financial and the U.S. Securities and Exchange Commission (SEC) dropping charges against Sun further enhance the positive outlook for TRX. With these strong backing factors, TRX may also experience a substantial rally and reach new all-time highs in the near future.

BNB (BNB)

BNB is another cryptocurrency that is currently attracting attention. From a technical standpoint, BNB is forming a classic cup and handle pattern, which indicates potential for significant price appreciation.

According to market analysis, the target price for this pattern is approximately $1,100, substantially higher than its current price around $650. Additionally, BNB boasts robust fundamentals, with ambitions to surpass Solana and Ethereum in the decentralized exchange (DEX) sector.

Recent data from DeFi Llama highlights that BNB’s DEX volume has surged this week, propelled by recent price movements. Furthermore, the network is preparing for a Pascal hard fork, alongside two additional hard forks scheduled before June, all of which could act as catalysts to push BNB’s price higher.

Outlook for the Crypto Market

Overall, a resurgence in Bitcoin’s price to $100,000 could catalyze recovery across several cryptocurrencies. Besides TRX, BNB, and PEPE, other notable coins to keep an eye on include IOTA, Polkadot, and Kusama (KSM).

For those interested in expanding their knowledge about cryptocurrency, Pintu Academy offers a wealth of educational resources tailored for all experience levels. Stay updated with timely crypto news by following us on Google News.

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Disclaimer: This content is intended for informational purposes only. Pintu has sourced this information from various reliable channels and is not influenced by external parties. Past performance of assets does not dictate future results. Engaging in crypto trading involves significant risks due to market volatility; individuals should conduct their own research and invest only what they can afford to lose. The responsibility for any trading activity lies solely with the reader.

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