The altcoin season index has pulled back in the past few days, falling from the year-to-date high of 55 to 42. It has jumped from the year-to-date low of 16.
Summary
- Binance Coin price has formed a cup-and-handle pattern pointing to more gains.
- Pi Network is a contrarian buy as it formed a double-bottom pattern.
- Solana price has formed a golden cross chart pattern on the daily chart.
The Bitcoin (BTC) price has remained in a tight range over the past few weeks, currently trading at $118,000, a decrease of nearly 3.7% from its highest point this year.
It has formed a bullish pennant pattern, a popular continuation sign, pointing to an eventual rebound to its all-time high this year. Such a move will likely lead to more gains in the altcoin market. This article looks at some of the best crypto to buy for huge gains this year.
Binance Coin
Binance Coin (BNB) is one of the best tokens to buy this as the altcoin season starts. It has already jumped by over 67% from its lowest level in April, and technicals point to more gains in the near term.
It has formed a cup-and-handle pattern, a common continuation sign in technical analysis. This pattern has a depth of about 36%, meaning that it will jump to $1,080.
BNB price has jumped above the 50-day and 200-day Exponential Moving Averages, a sign that bulls are in control.
On the positive side, the BSC network is doing well, with its total value locked jumping to over $10 billion, its highest level since 2022. It has over $11 billion in stablecoin market cap, while its decentralized exchange volume has soared to a record high.
Pi Network
Pi Network (PI) is a contrarian buy because of its relatively weak fundamentals and performance. It is one of the most dilutive tokens in crypto, adding millions of new supply each month, and having no mainstream apps in the ecosystem.
On the positive side, Pi Network price has some bullish technicals. It has formed a double-bottom pattern at $0.4016 and a neckline at $1.6693. A double-bottom is a common bullish reversal sign.
Pi coin price has also formed a falling wedge pattern, which comprises of two descending and converging trendlines. This pattern often leads to more gains.
Therefore, it is likely that the Pi coin price will rebound, and possibly hit the resistance level at $1, followed by more gains to the double-bottom neckline at $1.6693.
The main catalyst for a short-squeeze will be a potential exchange listing by one or more tier-1 exchanges.
Solana
Solana (SOL) is another top crypto to buy for huge gains once the altcoin season starts. It has already jumped from a low of $95.67 in April to $191 today. Most recently, it formed a golden cross pattern as the 50-day and 200-day moving averages crossed each other.
Solana price has already jumped above the key resistance level at $187, the highest swing on May 22 and the upper side of the inverse head-and-shoulders pattern.
Therefore, SOL price will likely keep rising as bulls target the year-to-date high of $294, up by 53% from the current level.
Other crypto to buy for huge gains
There are many other altcoins that will do well in case of a crypto market bull run. Some of the top coins will be meme coins like Dogwifhat, Bonk, Pepe, and Pudgy Penguins. Other utility tokens like Hedera Hashgraph, Chainlink, and Quant.
