High Potential Altcoins To Ride The Trend Reversal Rally
The post High Potential Altcoins To Ride The Trend Reversal Rally appeared first on Coinpedia Fintech News
With the altcoins market bouncing back towards the $1 Trillion valuation, the smart money is flowing into the altcoins. Further, with the Bitcoin price aiming to surface above $60K, the altcoins are expected to continue the rally on the bullish path.
With a. So, let’s look closer at the top Solana-based altcoins to watch out as the broader crypto market recovers.
Altcoins To Watch Out: Aptos (APT)
With a massive crash in 2024, the APT price action reveals a double top in the weekly chart. Taking rejection from the massive supply at $20, the altcoin drops near the crucial support level of $5.
However, the quick reversal of 11.45% this week results in an abrupt end of the downfall and teases a potential trend reversal. If the APT price sustains above $4.72, the chances of a double-bottom reversal could result in a trend reversal.
The buyers could reclaim the $10 mark because the altcoin regains bullish momentum.
ImmutableX (IMX)
Similar to most altcoins, the IMX price trend reveals an ongoing correction and accounts for a 65% drop from the yearly high. The weekly chart reveals a head and shoulder breakdown rally leading to new lows this quarter.
Breaking below the $1.50 psychological mark, the downfall takes support at the 78.60% Fibonacci level at $1.162. Currently, the altcoin trades at $1.25 and teases a bounce back with the morning star pattern.
With a potential retest of the bearish pattern breakdown, the altcoin price could surge to the 50% retracement level at $2.
Optimism (OP)
The downfall in the daily chart leads to a falling wedge pattern in the OP price action. Rising by 28% in the last 4 days, the bull cycle within the bearish pattern teases a potential trend reversal.
With a bullish crossover in the MACD indicator, the buyers are ready to challenge the 23.60% retracement level and the overhead trendline. As the broader market recovery picks up pace, the bullish trend could result in a breakout rally. As per the Fibonacci levels, the breakout run could reach 50% Fibonacci level at $3.
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