MEOW, GT, and MORPHO Form New All-Time Highs (ATHs) as Bitcoin (BTC) Reclaims $100K

With Bitcoin successfully reclaiming $100,000 as support, many altcoins have shot up on the daily chart. This brought gains to some altcoins as they reached a new high on the back of the bullishness.

Bitcoin’s shift in trend has had a positive impact on the altcoin market. Many altcoins have rallied by double digits, outperforming BTC in the process.

Here’s a look at three crypto tokens that formed a new all-time high (ATH) on March 27 and what traders can expect next.

Meow (MEOW) Surges by 64%

MEOW price has surged by an impressive 64% in the past 24 hours, outperforming most altcoins in the top 100 by a significant margin. This strong buying interest drove the meme coin up from $0.0050 to $0.0077.

With this surge, MEOW also hit a new all-time high at $0.0077. This marks the fifth ATH that the meme coin has formed in the past week.

If the uptrend continues, MEOW could rally another 33% to reach the $0.0100 price target. This would further solidify the meme coin’s bullish momentum and propel it to a new level of gains.

However, a sudden shift in trend could see investors taking profits en masse, triggering a correction. In such a scenario, MEOW may correct to the Fib 0.236 level at $0.0050, negating the bullish outlook and wiping away the recent gains.

Gate (GT) Continues to Rally

After rallying by 20% on March 26, GT price showed no signs of slowing down. The altcoin price increased by 9.5% on Monday, March 27. This saw GT hit a new all-time high at $19.89.

With this move, GT also rallied to the Fib 0.382 level at $19.91, indicating a potential resistance zone ahead. However, if buying pressure remains strong, the altcoin could slice through this resistance and continue rallying upwards.

In such a case, the next Fib 0.236 level at $20.00 could act as a support floor for GT. Successfully doing so would set the stage for a further rise to the Fib 0.141 level at $25.00, reinforcing its bullish trajectory.

Morpho (MORPHO) Surges by 31%

After rallying by 16% on March 26, MORPHO price showed no signs of slowing down. The altcoin price surged by 31% on Monday, March 27. This saw MORPHO hit a new all-time high at $4.13.

With this move, MORPHO price also rallied to the Fib 0.382 level at $3.98, indicating a potential support zone ahead. However, if selling pressure increases, the altcoin could slice through this support and continue falling downwards.

In such a case, the next Fib 0.236 level at $3.58 could act as a crucial support for MORPHO. Failing to hold this level would set the stage for a further drop to the Fib 0.141 level at $2.26, invalidating the bullish outlook and reversing recent gains.