The crypto bull market is starting
The crypto bull market is starting, with Bitcoin price nearing its all-time high and most altcoins surging by double digits from their lowest levels this year. Bitcoin (BTC) has jumped above $104,000, and analysts remain highly bullish on its performance. BlackRock expects it to eventually climb to $700,000, while Ark Invest has set a target of $2.4 million.
Bitcoin has also formed a cup-and-handle pattern, a popular continuation signal. This formation includes a horizontal resistance line, a rounded bottom, and a period of consolidation. Since the cup has a depth of 32%, projecting that same distance from the breakout level suggests a potential target of $142,000.
A strong Bitcoin rally will likely trigger further gains across altcoins. If that happens, some of the top altcoins to watch during this bull run are Sui (SUI), Polkadot (DOT), and Ripple (XRP).
Sui
Sui is one of the fastest-growing layer-1 blockchains in the crypto space. Its total value locked has surged 67% in the past 30 days to $2.9 billion, while its 24-hour DEX volume recently hit over $689 million. Much of this growth has been fueled by an expanding meme coin ecosystem.
Technicals indicate that Sui has more upside ahead. The three-day chart shows it has entered the fifth phase of the Elliott Wave pattern. Elliott Wave theory outlines five stages of price movement: the first, third, and fifth waves tend to be bullish, while the second and fourth are corrective pullbacks.
Therefore, Sui price will likely rise and hit the all-time high of $5.2382, which is about 30% above the current level. A move above that resistance will point to more gains, potentially to $10 if the crypto bull run continues.
Polkadot
Polkadot is another quality coin to buy in this crypto bull run. Its case is mostly because of its strong technicals, as ethdaily.net has covered here and here.
The weekly chart shows the coin has formed a quadruple bottom pattern, having failed to break below the $3.50 support level three times since 2023. The neckline of this formation lies at $11.5. DOT has already moved above the psychological barrier at $5, suggesting that a move to $11.50 is likely, around 120% higher than its current price.
Polkadot’s ongoing transition to Polkadot 2.0 supports this outlook. Developers have already implemented asynchronous backing and agile core time. Now, they are working on elastic scaling, which launched on Kusama last week. These upgrades aim to make Polkadot one of the most attractive platforms for decentralized applications. DOT could also benefit if the SEC approves a spot DOT ETF.
XRP
XRP is another leading altcoin positioned for gains in this crypto bull cycle, bolstered by both strong technicals and fundamental catalysts.
Technically, XRP has also formed an Elliott Wave structure and is currently in the fifth wave. The fourth wave formed a triangle pattern, which has since evolved into a bullish pennant, a widely recognized bullish continuation pattern.
XRP has now broken above the upper boundary of the pennant, indicating a likely move toward its year-to-date high of $3.40, and potentially $5.
Fundamentally, XRP remains strong. Anticipation around the approval of a spot XRP ETF, the emergence of XRP meme coins, and the continued development of the XRP Ledger are key drivers of its current bullish outlook.