Altcoin Season 2026: Will Solana, SUI, and Render drive a 20% rebound in this week's crypto market?
Bitcoin closed last week with a relatively strong weekly chart, and some traders are now preparing to bet on a relieving rebound in altcoins. Several major tokens are near key support levels, and some in the market believe that altcoins may see a 20% rebound in the coming period.
An analyst who trades in altcoin cycles has begun to build positions in Solana, SUI, Render, and Avalanche.
Bitcoin sets the tone
The latest weekly candlestick charts indicate that Bitcoin may recover most of the losses from the past two weeks in the coming days. Levels that the market is watching include:
- Uptrend target: $84,000 to $85,000 this week
- Short-term trigger level: If it breaks above $80,000 to $81,000, BTC could quickly rise to $83,000.
- Support level: The current level, with further support at $77,000.
- Liquidity: Short positions are being established between $81,000 and $82,700, which increases the likelihood of a short squeeze.
The daily chart of Bitcoin RSI has also fallen to a very low level, and such readings usually appear before a rebound.
Bitcoin's dominant position may create space for altcoins
The proportion of Bitcoin in the entire crypto market is close to the top of a wedge pattern on the weekly chart. If its dominant position declines significantly from here, it usually indicates that funds are flowing towards altcoins, which could trigger a rapid rise.
Counterfeit coins are in a critical position.
Solana （ SOL ）
- Support range: $97 to $101
- First target: $104, with the potential to rise to $120 thereafter.
- If it falls below $93 to $94, then that pattern will become invalid.
SUI
- Currently located near the 200-day moving average and the 0.618 Fibonacci level.
- On the four-hour chart, it is within a descending wedge pattern, which often ends with a breakout.
- Key support level near $0.87
Render （ RENDER ）
- Retained the 200-day moving average and the 0.618 Fibonacci level.
- The next important level is around $1.67.
- The rebound target is between $1.95 and $2.
Avalanche （ AVAX ）
- The 0.618 Fibonacci support level is around $8.70 to $8.75.
- If it falls below $8.40 to $8.50, the pattern will weaken.
- The first target is to rise by 10% to 12%.
Other altcoins worth paying attention to
- XRP: Rebounded from the 200-day moving average and the 0.618 Fibonacci level, but a breakout above the trend line is needed to initiate a larger market movement.
- Bittensor ( TAO ): If the current trend line is broken, it will confirm a bullish pattern.
- Compound ( COMP ): Back near $20, and above the 200-day moving average
- Cardano ( ADA ): There may be a four-hour level breakout, but it is not considered one of the strongest patterns.
- Injective ( INJ ) and NEAR: Still weak in the short term, with INJ possibly falling back to around $7
Two possible paths
The price may fall further once to clear out leveraged positions before rising again; or it could break through upwards directly. In either case, the current range is considered an early entry zone, and markets expect more significant fluctuations in the coming weeks.
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