The Crypto Market Improvement

The crypto market is finally improving, and at a steady pace, which is boosting investors’ confidence. This bullishness is reflected in the growth of altcoins, with some reaching new highs.

BeInCrypto has analyzed three altcoins that formed new all-time highs today and examined if their uptrend will continue.

Solayer (LAYER)

LAYER has surged by 23% in the last 24 hours, reaching $1.41 at the time of writing. The altcoin also reached a new all-time high (ATH) of $1.47 during intra-day trading. This rise indicates strong market interest and positive momentum for the cryptocurrency in the short term.

Given the current green candlestick, LAYER is likely to continue its upward trend. If it breaks past its ATH of $1.47, it could push past the $1.50 mark, signaling a continued bullish phase as it gains momentum toward higher levels.

However, if the price falls to $1.20 or lower, this bullish outlook will be invalidated. A drop to $0.95 would result in the loss of recent gains, indicating a shift to bearish sentiment and leading to potential price corrections.

Cheems (CHEEMS)

CHEEMS has experienced an impressive 133% rise month-to-date, reaching a new ATH of $0.000002179. However, the altcoin has since retraced and is currently trading at $0.000001952. This price action reflects potential volatility, but the recent ATH indicates strong market interest.

If CHEEMS fails to maintain its uptrend, it could slide towards the critical support level of $0.000001461. A bounce from this level could allow CHEEMS to attempt forming a new ATH, maintaining the bullish trend.

Nonetheless, if support at $0.000001461 is breached, further declines could occur. The next support level is at $0.000001132, and falling below this would invalidate the bullish outlook, erasing recent gains.

Saros (SAROS)

SAROS has shown consistent growth throughout the month, currently trading at $0.055. During an intra-day rise, it reached a new ATH of $0.057, indicating positive market interest. Continued upward momentum may help SAROS reach higher levels, boosting investor confidence.

If the broader market cues remain strong, SAROS is likely to keep its uptrend. The price could break through the $0.060 resistance level, extending its gains and signaling sustained bullish sentiment to attract more investors.

However, if market momentum reverses, SAROS may struggle to maintain its gains. A pullback to $0.046 is possible, and losing this support would invalidate the bullish thesis, potentially leading to further decline to $0.034, indicating a deeper price correction.