The altcoins have been badly hit in this current bull market. Will Avalanche (AVAX), Toncoin (TON), and Kaspa (KAS) be able to recover?
Can $AVAX burst through resistance and the downward trend?
Source: TradingView
$AVAX was one of the premier altcoins in the 2021 bull market. It rose to a stunning high of $147 at the top of that market, and has dwindled to a current $20 despite this bull market potentially reaching its top towards the end of 2025 or the beginning of 2026.
Can $AVAX bulls step in and save this promising layer 1 network? That is in the hands of the Gods. However, as things stand, a lot needs to be done just to get back to the last local high at $55.
The price is up against some big horizontal resistance levels at $20, and $22. Given that the Stochastic RSI (at bottom of chart) already has its indicators heading back to the top, the bulls must take advantage of this upside price momentum, and soon. Failure to get back above the last swing high at $55 will mean yet another lower high.
$TON tests the descending wedge breakout + strong support
Source: TradingView
$TON is very near to the strong horizontal support level of $2.80 once again. However, in its favour, the price broke out of the descending wedge, and has recently retested, coinciding with this strong support level.
The Stochastic RSI indicators look to be shaping to head back up again, bringing in that upside price momentum. That said, the first half of the climb for these indicators has resulted in very weak price action.
$KAS follows W pattern to the upside
Source: TradingView
The $KAS price is still following the W pattern that was forecast to play out last Friday. This is likely to take the price to the overhead resistance at $0.10. However, to surpass this resistance level would be a major step up. That said, if it can be confirmed above, this would put the $KAS price back into the $0.10 to $0.19 range, giving the bulls the opportunity to push the price back to the all-time high.
Not financial advice
In the shorter time frames, there is always the possibility that any of the above altcoins can run hard, and even outperform Bitcoin. If this happens, it could potentially take place once (and if) Bitcoin surpasses its all-time high.
Nevertheless, in the longer term time frame, nearly all altcoins are getting hammered relative to $BTC. Therefore, those investors just holding these cryptocurrencies should be very aware of this.
If your altcoins do not outperform Bitcoin, what would be the point in holding them?
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.