Altcoins Surge, UNI, and TON Shine

London: 14 June 2024 (TraderMade): The cryptocurrency market is witnessing a notable trend as altcoins, particularly Uniswap (UNI) and Toncoin (TON), demonstrate significant strength and attempt to decouple from major tokens.

Despite Bitcoin's recent decline from a key support zone, these altcoins are maintaining strong upward trajectories, offering a glimmer of hope for investors.

Key Takeaways

• Uniswap (UNI) surpasses the pivotal $10 mark, eyeing $13.5.
• Toncoin (TON) hits new ATH, targets $9.7.
• Historical trends suggest altcoin will peak in October 2025.
• Bitcoin dominance rising, altcoins poised for significant growth.

Uniswap (UNI) Price Analysis

Uniswap (UNI) has been on an impressive run, closing the previous day's trade above the pivotal $10 mark, which has helped maintain its bullish momentum. As the weekend approaches, all eyes are on UNI as it aims to break through the crucial resistance at $10.5.

Achieving this milestone could lead to increased volatility but also set the stage for further gains. The Relative Strength Index (RSI) for UNI has rebounded from ascending support, indicating growing bullish strength.

Analysts forecast that UNI could reach a key support zone of around $12 over the weekend, potentially elevating it to levels beyond $13.5. This anticipated rise underscores the token's resilience and the market's positive sentiment towards it.

Toncoin (TON) Price Analysis

Toncoin (TON) has also captured significant attention with a dramatic upswing in the early trading hours, propelling its price to a new all-time high of $8.01. Although a minor pullback has brought the price below $7.5, the bulls are determined to defend the lower support zone between $7.25 and $7.44.

TON has been trading within an ascending triangle pattern, and surpassing the final barrier suggests that the bulls are ready to push the token to new heights. According to Fibonacci levels, TON's next target could be around $9.7, potentially paving the way for a double-digit figure before the end of the month.

Market Trends and Future Predictions

Historical trends suggest that altcoins could peak in October 2025, 546 days post-halving. This pattern was observed in previous cycles in 2016 and 2020, and analysts are projecting a similar trend for 2025.

While factors such as cycle acceleration and macroeconomic influences could lead to an earlier peak, the current data suggests we are still early in the altcoin cycle. Bitcoin dominance is currently rising, and altcoins have taken a back seat despite increased 24-hour trading volumes.

The total market cap for altcoins, excluding Bitcoin, is about 60% off its all-time high, indicating significant room for growth. For altcoins, excluding both Bitcoin and Ethereum, the market cap is about 75% off its all-time high.

Currently, Bitcoin is trading at around $66,800 with minimal volatility. The altcoin market has experienced minor fluctuations recently, but significant upward moves are expected, with potential daily gains of 10-90% during the Euphoria phase.

Conclusion

In conclusion, while Bitcoin's movements continue to influence the broader market, altcoins like Uniswap and Toncoin are carving out their paths, showing resilience and the potential for substantial gains.

Investors are closely watching these trends, hopeful for a bullish close to the week and a prosperous future for altcoins.