There are signs that the crypto market bull run is about to begin, as Bitcoin’s cup-and-handle pattern nears a breakout.
As crypto.news predicted, Bitcoin (BTC) could jump to at least $143,000 now that it has moved above the upper boundary of the cup-and-handle formation.
Bitcoin is also on the verge of breaking above the 8-year resistance trendline, a move that could ignite a broader crypto bull run. This article highlights the top altcoins to watch ahead of that potential breakout.
Hyperliquid
Hyperliquid (HYPE) is among the top altcoins to consider as the bull market gains traction. It has already surged 342% from its April low and is currently trading near its all-time high.
HYPE has rallied thanks to its growing dominance in the perpetual futures market. Data shows Hyperliquid processed over $245 billion in trading volume over the past 30 days. The protocol has also become one of the most profitable players in the decentralized exchange space, generating $65.5 million in revenue in May, up from $43.3 million in April.
The HYPE token is likely to continue climbing as its trading volume, revenue, and staking yield increase. It also invalidated a double-top pattern at $39.96, signaling further upside potential.
Uniswap
Uniswap (UNI) is another top altcoin to watch, driven by its expanding market share in decentralized finance. The protocol processed over $92.8 billion in volume over the past 30 days, generating $95 million in fees in May, up from $60 million the previous month.
Uniswap’s Unichain network has emerged as one of the fastest-growing chains in the crypto ecosystem. Its DEX volume reached over $9.5 billion in the past 30 days, while its total value locked (TVL) in DeFi is nearing $1 billion. Unichain’s stablecoin market cap has also surged to $320 million.
Technically, the UNI token has broken above the key resistance level at $7.5410, the high from May 11 and May 28, and the 23.6% Fibonacci retracement level. A sustained move above this zone could open the door to the 50% retracement level at $11.97.
Ethereum
Ethereum (ETH) price is another token to buy as spot ETH ETF inflows jump. It has also formed a bullish flag pattern, comprising of a vertical line and a rectangle that resembles a hoisted flag.
The upper limit of the flag is $2,743, and the lower limit is $1,386, creating a measured move of $1,357. Adding this to the breakout level at $2,740 gives a target of approximately $4,100.
Ethereum has also formed a golden cross pattern, where the 50-day moving average crosses above the 200-day moving average. This is a classic bullish signal that further supports the case for continued upside.
