Crypto Market on the Cusp of a Bull Run: Top Coins to Watch
The crypto market is showing signs of a potential bull run, with the Altcoin Season Index (ASI) and Bitcoin and Ethereum Exchange-Traded Fund (ETF) inflows gaining momentum. As of Saturday, July 26th, the ASI had risen to 43, a significant increase from its year-to-date average of 16. Historically, when the ASI and the Fear and Greed Index rise, cryptocurrencies tend to perform well, but a sharp spike in the ASI can lead to a market reversal.
What Drives the Crypto Market Bull Run?
The best cryptocurrencies to buy during this period are those with clear catalysts, such as ETF approval and hype. Meme coins, in particular, tend to perform well due to their ability to generate interest among retail investors. Some of the top coins to watch include Bonk (BONK), Quant (QNT), and Dogwifhat (WIF), which have solid foundations and promising technical indicators.
Bonk: A Meme Coin on the Rise
Bonk, the largest meme coin on the Solana (SOL) network, is a promising buy due to its strong technicals and solid fundamentals. The token has formed a golden cross, with its 200-day and 50-day moving averages crossing over, and has reached the 50% Fibonacci retracement level. Additionally, it is forming a bullish pennant pattern, and the SuperTrend indicator has turned green, indicating potential for further gains. As the largest Solana-based meme coin, Bonk is well-positioned to benefit from on-chain data showing increased whale accumulation and declining exchange balance sheets.
Quant: A Coin with Strong Fundamentals
Quant is another top coin to buy, thanks to its strong partnerships with Oracle and the European Central Bank, as well as its potential to benefit from the macro theme of real asset tokenization. The QNT price has formed a reverse head and shoulders pattern and a cup and handle, indicating a potential breakout. With bullish technical indicators in place, the Quant price is likely to continue rising, with a potential target of $171, representing a 35% increase from current levels.
Dogwifhat: A Meme Coin with Promise
Dogwifhat is another promising altcoin to buy, with solid technicals and a strong presence as one of the largest Solana-based meme coins. The token has formed a bullish cup and handle pattern, with a potential upside of 76% to $2.50. With the WIF price already moving above its 50-day and 100-day moving averages, the stage is set for a potential breakout.
Other Top Coins to Consider
As the crypto market bull run gains momentum, there are several other top coins to consider buying. These include Spark, Hyperliquid, and Aave, which are major players in the decentralized finance (DeFi) space. Additionally, layer 1 and layer 2 tokens like Binance Coin, Ethereum, and Arbitrum are also worth considering. With the right combination of fundamentals, technicals, and market sentiment, these coins have the potential to deliver significant returns in the coming months.
