After Bitcoin regained its footing at $100,000, numerous altcoins experienced an upward trend in their daily charts, leading to increased values for certain altcoins and setting new record highs due to the prevailing optimism.
In simpler terms, we’ve looked at three cryptocurrencies that reached their highest price ever today, and we’ll discuss what might happen with them going forward.
Meow (MEOW)
In the last day, MEOW has stood out among altcoins as it surged by an impressive 64%. This significant increase propelled its price from nearly $0.0050 to $0.0077.
In recent developments, MEOW has touched an unprecedented peak of $0.0077, making it the fifth record high in just a week. If this upward trend continues, there’s a possibility that the meme coin could soar to $0.0100, reinforcing its bullish momentum even more.
In other words, if investors suddenly decide to sell their MEOW shares in large quantities, it could lead to a market correction. This might cause the price of MEOW to drop as low as $0.0050. Such a decline would counteract the positive trend and erase the recent upward movements that the meme coin has experienced.
Gate (GT)
This week, the price of GT climbed up by 9.5%, setting a new peak at $19.89 – a record never seen before (all-time high or ATH). The persistent rise in prices underscores robust investor faith and burgeoning interest in this altcoin, suggesting growing demand.
If the trend continues upwards, the price of GT might stabilize around $20.00, acting as a solid foundation. Achieving this could pave the way for a potential increase towards $25.00, further emphasizing its positive trend and upward momentum.
Yet, there’s a possibility that this positive trajectory could be reversed, leading GT to slide down towards $18.12 again. If this happens, it would challenge the optimistic view and undo the recent advancements in price.
Morpho (MORPHO)
In the last day, MORPHO’s price soared by 31%, reaching an unprecedented peak of $4.00. This significant leap marked a new record high (personal best) for the cryptocurrency, with it briefly touching $4.13. The robust surge suggests a positive trend in the market and heightened investor enthusiasm.
If the upward trend continues, Morpho might reach new highs in the near future due to increased interest and advantageous market circumstances. Maintaining its pace above the present resistance points is crucial for preserving the positive trend’s direction.
Conversely, if investors decide to cash in on their investments, it could pose a substantial threat. If the selling activity escalates, MORPHO might fail to hold onto its key support at $3.58, possibly causing a slide down to $2.26. This potential decrease would undermine the optimistic perspective and reverse the recent advancements.
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2025-01-17 10:21