Top altcoins to watch next week: Kaspa (KAS), Bonk and Solana (SOL) prices could break out

The Bitcoin market is experiencing rapid growth and experts predict that it could reach $50,000 by next week. This uptrend is also having a positive impact on altcoins, pushing them above their current resistance levels, even as overall altcoin dominance declines sharply. Given Bitcoin's expected continued buying momentum in the following week, it is likely that altcoins such as Kaspa, Bonk, and Solana will see significant breakout moves.

Altcoin dominance is facing a sharp decline

Recently, Bitcoin (BTC) saw a surge in buying confidence, pushing its value towards the $50,000 mark. This bullish momentum has pushed Bitcoin’s market dominance to over 53.5%, while simultaneously reducing altcoins’ market share to under 12.1%. As a result, market analysts are increasingly turning their attention to Bitcoin and expect it to take center stage in the coming week.

Meanwhile, interest in altcoins appears to be declining, as shown by the Altcoin Seasonal Index chart. The index has seen a significant decline, falling from a high of 67 to a recent low of 46, extending the expected arrival of an altcoin season. Nevertheless, inspired by Bitcoin's impressive performance, a number of altcoins are preparing for possible breakouts in the coming days.

Kaspa (KAS) price analysis

Kaspa price is up 44% in the last seven days and is nearing its all-time high. KAS price bounced off the 20-day EMA (Exponential Moving Average) at $0.103 and broke the resistance at $0.125, negating the bearish descending triangle pattern.

The current momentum provides a bullish outlook as investors continue to break the immediate Fib channels. The price increase above $0.125 has set the stage for a possible retest of the $0.15 resistance level. Crossing this level could accelerate the KAS/USDT pair's momentum towards a rally to a new ATH in the coming week.

On the other hand, a reversal from the current price or $0.15 could indicate profit-taking at higher levels. Should the price break below the moving averages, it could indicate that the pair could consolidate around $0.12.

Bonk price analysis

BONK price has also broken out of its bearish consolidation and is aiming for another breakout in the coming week. However, the bears are now increasingly defending an increase.

BONK price is now well above the moving averages with the RSI in overbought territory. Although this suggests a correction, a rebound from the 200-day EMA could provide further breakout momentum. In such a scenario, BONK price could rise towards $0.000017.

Should the price decline from this level, it means that the BONK/USDT pair may continue to consolidate in a bullish zone.

Solana (SOL) price analysis

Solana witnessed a rebound from the moving averages, with bulls attempting to push the price above strong overhead resistance at $116. However, the bears are defending the $110 level. At the time of writing, SOL price is at $109.1, down over 0.4% from yesterday's price.

Reaching $110 would complete a bullish inverse head and shoulders pattern for Solana price, potentially leading to an initial rise to $116, followed by an attempt to reach the $126 target to reach.

However, this optimistic outlook will be dashed if the price declines sharply and breaks below the EMA20 trendline, potentially triggering a decline towards $94-$100. At this lower level, buyers are expected to come back in.

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