These 3 Altcoins Have Already Reached New All-Time Highs Today

While the crypto market continues to recover from the weekend's losses, some altcoins have already started to climb.

The crypto market is slowly recovering from the weekend’s losses, with several altcoins beginning to rise. Investor support and a gradual recovery have helped these tokens avoid further declines and instead spark rallies.

Three altcoins reached new all-time highs on Monday, August 7, amid broader market fluctuations. As these tokens hit new highs, they also faced immediate resistance, which could determine the next move for these altcoins. BeInCrypto analyzed these three altcoins and what lies ahead.

Pi Network (PI)

Pi Network (PI) surged by 19% in the last 24 hours, reaching an all-time high of $1.98 during an intra-day rally. However, it has since fallen slightly, currently trading at $1.90. This price action highlights Pi’s volatility amid market fluctuations and investor interest.

After a weekend of consolidation, Pi’s price saw some upward pressure, pushing the coin toward the Fib 1.618 level. This move follows a period of support at the Fib 1.59 level, which helped to stall a broader downturn.

If Pi continues to be supported, it could see its price trend upward, potentially pushing above the $2.00 mark and forming a new all-time high. A break above this level would open the door for further gains, with the Fib 1.8 level, at around $2.19, being the next target.

However, if Pi fails to hold support at the Fib 1.59 level, it could face further declines. A drop below this support point might see the price slide to the Fib 1.43 level, at around $1.59, with a critical support point at the Fib 1.19 level, around $1.19. Losing these levels would invalidate the bullish outlook and extend the downtrend.

Kaito (KAITO)

Kaito (KAITO) surged by 28%, reaching $2.12, and briefly hit a new all-time high of $2.17 during the intra-day rise. This significant increase highlights strong investor interest and the potential for continued growth. The altcoin’s performance remains promising, suggesting an upward trajectory if bullish momentum continues.

Following last week’s launch, Kaito has quickly captured investor attention, with a growing sense of optimism surrounding the token. If the current bullish sentiment continues, Kaito could climb toward the Fib 1.272 level, at around $2.50, in the coming days, further reinforcing its position in the market.

However, if Kaito fails to break above the $2.17 resistance, it could face a downturn. A failure to breach this point may lead the altcoin to fall back to the Fib 1.13 level, at around $1.86, or even lower, to the Fib 1.0 level, at $1.71. Such a decline would invalidate the current bullish outlook and erase recent gains.

Staika (STIK)

Another one of the altcoins, Staika (STIK), has made an impressive move, achieving a new all-time high (ATH) of $5.41. Despite broader bearish market conditions, the crypto token managed to hold steady above the $5.05 support level, preventing a further decline. This resilience showcases strong investor confidence in its potential for further growth.

This marks the second ATH in just seven days for STIK, indicating a potential breakout. If the altcoin continues this upward momentum, it could soon surpass the Fib 1.30 level and establish a new resistance level.

However, if STIK fails to break above the $5.41 resistance, it may face consolidation within the range of $5.41 to $5.05. A failure to hold the $5.05 support level would invalidate the bullish outlook, potentially pushing the price down to the Fib 1.0 level, around $4.58.