Altcoins Poised to Smash All-Time Highs as Technical Analysis Points to Breakouts

Three altcoins - Rain (RAIN), Canton (CC), and Velvet (VELVET) - are poised to break their all-time highs in the coming days, according to technical analysis.

Rain, which has been gaining momentum lately, is currently trading at $0.0132, just above its record high of May 26. The token's price action suggests that it may be on track to reach its next target, with a potential downside target at the 0.5 Fibonacci level located at $0.0108.

Canton, which has been operating within an ascending parallel channel for several months, is currently trading at $0.163, just 16% below its February high of $0.195. The asset's price action indicates that it may be on the verge of breaking out above its current resistance level of $0.1725.

Velvet, which has been experiencing extreme overbought conditions, is currently trading at $1.72 after accumulating a return of over 1,300% in just seven days. The token's price action suggests that it may be on track to reach its next target, with potential targets located at the 2.0 level and the 2.272 extension.