While the Bitcoin price remains stuck within a narrow range, the altcoins, which have been displaying extreme strength, are losing their grip over the rally. The market participants appear to have shifted their profits onto the other token and as a result, these have been facing notable selling pressure at the moment. However, the crypto markets are showing signs of a reversal this weekend, and if it materialises, then these altcoins are expected to surge heavily with a huge margin.
Sui (SUI)
- The SUI price is flashing bullish signals as the bulls are utilising all their resources to keep the rally above the pivotal support
- The levels between $1.909 and $1.95 were an important resistance before, which have turned into support, keeping the bullish possibility alive
- Although the bears are dragging the levels lower, the support of the Bollinger bands remains elevated, suggesting the rising dominance of the bulls
- Previously, when a similar trend occurred, the price faced a huge pullback but the current trend could result in a bullish upswing as the price failed to rise above the resistance zone.
- Therefore, the SUI price is expected to trigger a fine rise as the selling volume has faded, which may attract fresh bullish volume
Bittensor (TAO)
- Similar to SUI, Bittensor price underwent a parabolic recovery after rebounding from the lows close to $200
- After a gigantic rise, the token consolidated for a while and broke out of the range, displaying acute strength
- Moreover, the resistance of the channel which is offering a base may initiate a strong rebound, helping the TAO price to form new highs
- Besides, the RSI is incremental and regardless of the interim pullback, the price is about to trigger a rebound from the average
- Luckily, the selling volume is fading and hence, after the bearish pressure fades out, the price is expected to initiate a healthy upswing
cat in a dogs world (MEW)
- The newly launched memecoin, cats in a dogs world (MEW), has made huge moves, attracting massive attention from the market participants
- The bulls remain progressive as the rally has been consistently maintaining a parabolic recovery after rejecting the interim lows
- However, the on-balance volume or the OBV, is rising, suggesting the trend is under bullish influence and hence it may maintain a healthy rise
- With the growing bullish sentiments and buying volume, the price is believed to reach the neckline and form a new ATH at $0.011.
Popcat (POPCAT)
- The POPCAT price is trading within a rising parallel channel, suggesting the rally to remain elevated for the next few days
- Regardless of the interim pullback, the price bounced from the lower support and is heading to test the resistance
- The price has surpassed the crucial resistance at $1 and hence is facing bearish action, which is believed to prevail for a while
- However, after a brief consolidation, the token is believed to trigger a fresh upswing and rise above $2, forming a new ATH
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