JasmyCoin ($JASMY), Fantom (FTM), and Bonk costs continued hovering on Monday morning as indicators of Bitcoin’s bullish breakout jumped. Jasmy, the popular Japanese cryptocurrency, surged to $0.027, which was over 823% from its lowest stage this yr. It has emerged as one of many best-performing cryptocurrencies this yr.
Why Fantom, Bonk, and Jasmy are rising
Equally, Fantom worth surged to a multi-year excessive of $0.7490, 323% from its lowest stage in 2023. Bonk, the favored Solana meme coin, has greater than doubled previously few days. It has roared again by over 245% from its lowest level this yr.
This worth motion is occurring as traders have embraced a risk-on sentiment within the crypto trade. That is evidenced by the truth that the worry and greed index has jumped to the acute greed zone. Cryptocurrencies are inclined to do effectively when the index is rising.
The three cryptocurrencies have additionally turn into extraordinarily in style amongst crypto merchants. A better look reveals that they had been trending in most buying and selling chat rooms in platforms like StockTwits, Twitter (X), and Reddit.
Bitcoin worth bullish pennant sample
The outlook for these tokens is extraordinarily bullish due to Bitcoin’s efficiency and chart sample. On the chart beneath, we see that Bitcoin has fashioned a bullish pennant sample. This sample is characterised by an extended flag pole and a triangle-like sample.
Bitcoin has now moved barely above the higher facet of this pennant sample and is sitting close to its highest level this yr. It has additionally jumped above all shifting averages and the necessary help stage at $60,000.
![](https://cdn.banklesstimes.com/tr:f-auto,w-367,c-at_max/uploads/2024/03/1709524138-Bitcoin%20price.png)
Due to this fact, the outlook for Bitcoin is extraordinarily bullish, with the subsequent level to observe this week being at $69,000. With the halving occasion set to occur in April, there’s a chance that the coin will rise above $70,000 quickly amid provide considerations.
If this Bitcoin worth forecast is correct, it implies that different altcoins will do effectively since they’ve a cheaper price. That is extra so amongst meme cash like Bonk and Pepe, which commerce for cents.
Due to this fact, the outlook for Jasmy is bullish, with the subsequent level to observe being at $0.030, which is about 20% above the present stage. Equally, Bonk worth will doubtless bounce from the present $0.000033 to over $0.000040. Fantom, alternatively, has the potential to maneuver from $0.70 to $0.8 quickly.