Bitcoin’s price has been consolidating, leading some traders to explore opportunities in altcoins. As the leading cryptocurrency continues its sideways action, BNB, TON, AAVE, and HNT are showing strength on the charts.
Recent data suggests that large fund managers, including Goldman Sachs, Capula Management, and Avenir Tech, have been quietly adding Bitcoin exchange-traded funds (ETFs) to their portfolios during this consolidation phase.
Crypto market data daily view. Source: Coin360
This activity signals that institutional interest in Bitcoin remains high, despite the choppy market conditions. However, this slow-moving action has kept several altcoins under pressure.
BNB Shows Promise with Recovery Attempts
BNB has made a recovery toward the downtrend line, indicating that buyers are attempting to regain control. The price could surge to $605 if it breaks above the downtrend line. However, if the bears defend their position, BNB could fall to $495 or even $460.
BNB/USDT daily chart. Source: TradingView
Toncoin Aims to Break Free
Toncoin (TON) is also showing potential, with support at $6.49. A break above the 50-day SMA could send TON toward $7.65 or even $8.29. Conversely, if the price falls below the 20-day EMA, TON may drop to $5.26.
TON/USDT daily chart. Source: TradingView
Aave Bulls Eye $134
Aave is attempting to break past resistance at $118. If successful, the price could rally to $134. However, failure to break out could see Aave slide back to $104 or even $96.
AAVE/USDT daily chart. Source: TradingView
Helium on an Uptrend
Helium (HNT) is gradually moving higher, with bulls targeting $9.74. If bears fail to break below the 20-day EMA, the uptrend could remain intact. A drop below this level could see HNT fall to $4.
HNT/USDT daily chart. Source: TradingView
With Bitcoin’s price stabilizing, these altcoins are worth watching for potential breakout opportunities.
