The recent rally in Bitcoin has temporarily paused after setting new all-time highs consecutively, but the remaining upward momentum is generating substantial gains in the altcoin market. This sharp rise suggests that several cryptocurrency tokens can continue to reach new all-time highs.
BeInCrypto has analyzed three notable cryptocurrency tokens that have set new all-time highs today, with MANTRA(OM) leading the pack.
MANTRA(OM)
The OM price recorded a new all-time high of $4.53 today, surging 58% in the past 24 hours. Currently trading at $4.06, this altcoin is garnering significant interest from investors seeking to maintain the upward momentum. The recent rally emphasizes the strong demand for OM in the market.
This altcoin is actively attempting to establish a reliable support floor, which is a crucial element in sustaining the uptrend and achieving additional all-time highs. Securing a trustworthy support level can solidify investor confidence, allowing OM to continue its ascent within the market's optimistic outlook.
However, if OM holders decide to realize substantial gains after the significant rally, this altcoin may experience a correction. Such a move could push the OM price down to $2.45, invalidating the upward outlook and erasing a significant portion of the recent gains.
NPC Coin (NPC)
NPC is currently trading at $0.062, having reached a new all-time high of $0.067 with a 30% increase in a single day. This sharp rise reflects strong market demand, positioning this altcoin as a standout performer.
The sustained altcoin rally began last week when NPC secured the $0.038 support level and rebounded. This rebound has served as a catalyst, igniting the upward momentum and strengthening confidence in the token's ability to maintain the uptrend.
However, if the upward momentum slows, and NPC struggles to form new all-time highs, there is a risk of a downward correction. A return to the $0.038 support level could invalidate the bullish outlook and trigger selling pressure, potentially offsetting the recent gains.
PONKE
PONKE recorded a new all-time high of $0.757 during Monday's trading session and is currently trading at $0.712. This surge reflects strong investor interest and active market activity, positioning PONKE as one of the best-performing altcoins in recent trades.
Despite some profit-taking, PONKE has the potential to form additional all-time highs if it rebounds from the crucial $0.661 support. A successful rebound could reignite the upward momentum, pushing the price higher and strengthening the optimistic outlook for investors seeking further gains.
However, if the $0.661 support is lost, PONKE could experience a significant decline. The altcoin may drop to $0.604 or even lower to $0.530, which would invalidate the bullish outlook and raise concerns about the sustainability of the recent uptrend.
