Crypto Market Shows Signs of Recovery with Key Indicators Pointing Upward
Cryptocurrency prices have dipped recently, but several indicators suggest a potential rebound. Bitcoin’s price chart reveals a cup-and-handle pattern, hinting at a possible surge to $140,000. ETF inflows are also on the rise, nearing the $50 billion mark.
Meanwhile, the tech-heavy Nasdaq 100 Index hit a new high of $22,500, and the S&P 500 Index climbed to $6,170. Both indices have seen a 27% increase from April’s lows.This bullish trend could signal a comeback for the crypto market.
Interest rate cuts by the Federal Reserve in September and a falling US dollar index could boost the market. A potential trade deal between the U.S.and China could also support the market.
Here are some altcoins to watch:
- Sei (SEI): This EVM-compatible chain is gaining popularity in gaming, DeFi, and stablecoins. Its price has risen from $0.1315 to $0.3337. With the price above key moving averages, further gains are likely.
- Aptos (APT): Aptos is a layer-1 blockchain with growing traction. Its DEXs processed over $4 billion in the past month. APT price has formed a double-bottom pattern, suggesting a potential breakout to $10.
- Aerodrome Finance (AERO): A leading DEX on the Base blockchain, Aerodrome has seen its price rally from $0.2963 to $0.80. An ascending triangle pattern and a mini golden cross signal bullish momentum,with a target of $2.
These altcoins could benefit from the broader market’s positive trends. Keep an eye on them as the crypto market potentially enters a new bull run.
