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This crypto bull market has not been particularly kind to the vast majority of altcoins. Unlike previous bull markets, the focus has been very much on Bitcoin, seemingly with only the merest sniff of an altcoins season, which has so far failed to arrive. Is there still hope for prominent altcoins such as $TON, $RENDER, and $RUNE?
A different bull market makes it difficult for alts to thrive
The days when plenty of altcoins would go parabolic as Bitcoin took a pause may never be seen again. Literally thousands of percent in gains were made, in many cases, on just a dream and a promise. This all took place when crypto was still in its infancy, and the vast majority of investors were speculating on this new and innovative asset class.
Fast forward to the bull market of 2024/2025, and investors are a lot more wary. Of course, there is still rampant speculation, but this has mostly been targeted at niches such as the Memecoins, where crazy gains have still been made.
However, for most of the altcoins that were prominent in the last bull market, and some from the one previous to that, with few exceptions times have not been good. $TON, $RENDER, and $RUNE, are three altcoins that are still generally well thought of, given their technology and use cases. Can any of these three altcoins make it back to their respective highs?
$TON back to launch price
Source: TradingView
$TON is still a relatively new cryptocurrency, having been launched late in 2022. Since that time, the price chopped sideways for more than a year, before firing to the upside in early 2023. The resulting run took $TON almost 300% higher to a price of $8.28.
However, that huge run was cancelled out through the rest of 2024 and now into 2025. In fact, $TON even went down to touch the price where it was launched all the way back in December 2022.
As things stand, it does look as though the bottom might have been reached, with a touch and ensuing bounce from the descending trendline. In addition, the RSI at the bottom of the chart registered the lowest low in the indicator, also since the launch.
Therefore, there could well be some strong upside left in $TON if the bull market does continue through the major part of this year. That said, at this stage of the bull market, for $TON to be at these depths does not bode well. A bounce may be likely from here, but surpassing the all-time highs is probably a long shot.
Still hope for $RENDER
Source: TradingView
As it stands, the $RENDER chart does not look particularly good either. The price broke underneath the $4.40 level, and over four consecutive weeks, this level has proved to be strong resistance.
That said, the price has been gathering within a descending wedge, from which it recently broke out of. The question now is whether this will be yet another rejection from the horizontal resistance, or whether the price is just confirming the breakout?
In favour of the breakout, the Stochastic RSI at the bottom of the chart is showing that the indicators have bottomed. A cross up of these indicators, allied with a breakout of the wedge and the horizontal resistance, should take the price back to at least $6.68.
A disastrous chart for $RUNE
Source: TradingView
The weekly chart for $RUNE is nothing short of disastrous. Down 94% from the top in the midst of a bull market does not inspire much hope. As can be seen above, a series of lower highs and lower lows are continuing to take place.
On top of this, the current price action is in the shape of a bear flag. Absolute bottom support is just below this. Unless this breaks upward, and the Stochastic RSI also crosses up, it is hard to see where the upside comes for $RUNE.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
