Top 3 Altcoins To Explode With A Recovery Rally Next Week
The post Top 3 Altcoins To Explode With A Recovery Rally Next Week appeared first on Coinpedia Fintech News
With the increasing chances of a bullish rally in the crypto market next week, the altcoins are hot picks for smart money. As the US Bitcoin Spot ETF inflows are rising, the BTC price is on the verge of crossing the lost level of $60K.
An anticipation of a slow movement over the weekend brings some extra time for sideline traders to buy high-potential altcoins before the massive jump. So, let’s have a closer look at our top 3 altcoin picks ready to explode next week with a recovery rally.
Top Altcoins To Watch: XRP (XRP)
With a market cap of 28.21 billion, the XRP coin price has crossed the $0.50 psychological mark. It is up by 17% in the past 7 days and reflects a massive jump of 10.62% in the past 24 hours.
The bullish streak continues as the altcoin reverses from the 0.41 mark. The XRP price registers a growth of 22.70% in the past 6 days following the 6.58% drop on the 7th of July.
Currently, the intraday growth is 7.92%, trading at $0.51, creating 6th consecutive bullish candle. Further, the altcoin price action completes a rounding bottom reversal and signals the end of the correction phase.
With a bullish crossover in the MACD indicator, the XRP price action reveals a falling wedge breakout pattern. The breakout rally is heading toward the 38.20% Fibonacci retracement level.
As the bullish reversal gains momentum, the altcoin is set to achieve the $1.00 psychological mark in this quarter.
Stellar (XLM)
Ranking at #30, the XLM price reclaims the $0.10 psychological mark as the recovery rally gains momentum. With a $2.86B market cap, the Stellar token price is up by 13.21% in the last seven days.
Following the 7.36% drop on 7th July, the altcoin price has increased by 20% in the last six days, with a morning star reversal rally. Further, the bullish cycle breaks above the overhead resistance trendline in the daily chart.
With an intraday gain of jump of 9.53%, the XLM price challenges the 23.60% Fibonacci level and forms the sixth consecutive bullish candle. As it reclaims the $0.10 psychological mark, Fibonacci levels tease a potential jump to $0.15 if the uptrend momentum sustains.
Bitcoin Cash (BCH)
With the high anticipations of bullish growth in BItcoin, the close cousin Bitcoin Cash price is on the rise. The rising inflows of US Bitcoin Spot ETFs and the chances of Bitcoin crossing above $60K fuels the uptrend in Bitcoin Cash, the cheaper alternative altcoin.
With a falling wedge at play, the bull cycle in the BCH price teases a potential breakout rally. Further, the recovery rally accounts for a price jump of 20% in five days, a streak of bullish candles continues.
Currently, the altcoin trades at $376 and an intraday gain of 2.12% to challenge the overhead trendline. With a breakout rally, the BCH price could hit the $519 mark before heading higher as the broader market recovers.
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