Altcoins on the Verge of ATH: Technical and Market Signals to Watch This Week

The cryptocurrency industry continues to trade under a strong bullish influence, highlighting an increase in the asset inflow by the investor’s. Moreover, top altcoins continue to break out of their major resistance levels, indicating a bullish outlook for the market in the upcoming months.

With the market leader, BTC price, achieving a new ATH, altcoins have gained significant traction and are recording new highs in their respective portfolios. This article consists of the top 3 altcoins that have the potential of achieving an new all-time high (ATH) within this month.

Render (RNDR):

The Render token traded in a closed range between $5.764 and $7.021 for a while, after which the bulls regained momentum and the Render price broke out of the resistance level where the price displayed a neutral trend for the next twelve days. After testing it low of $5.764, the bulls regained momentum and recorded a jump of 121.73% within the next six days.

Since then, the RNDR price has been trading in a consolidated range between $10.791 and $12.781. Positively, the Render token needs a jump of about 11% to record a new high.

The technical indicator, MACD, displays a constant decline in the red histogram, indicating a decrease in the selling pressure within the crypto space. Further, the averages show a bullish convergence, suggesting a positive price action for the altcoin in the coming time.

If the market continues to gain momentum, the RNDR token will prepare to attempt a new ATH of over $12.73 during the upcoming week. However, a trend reversal may pull the price toward its support level of $9.410 in the coming time.

Bittensor (TAO):

The Bittensor price traded between $562.1 and $637.9 for over a week, during which the price displayed significant fluctuations in the chart. Following this, the bulls recorded a jump of 18.03%, after which the token traded in a consolidated range between $637.9 and $754.6 for the next two weeks.

Recently, the bulls lost momentum, resulting in it breaking down the support level. Since then, the price has been trading between $562.1 and $602.9. However, the market hints a bullish sentiment and the altcoins needs a jump of only 18% to record a new high.

The MACD shows a rising green histogram, highlighting a bullish influence in the crypto space. Moreover, the averages display a bullish curve, indicating the price will continue gaining value in the coming time.

If the bulls continue to gain momentum, the bulls will prepare to test its upper level of $754.6 in the coming days. Conversely, if the bears overpowered the bulls, the price will lose momentum and fall to test its lower support level of $562.1.

UNUS SED LEO (LEO):

The LEO price displayed a neutral trend by trading in a closed range between $4.080 and $4.470 for a brief period. As the market volatility grew, the bulls regained momentum and successfully broke out of the resistance level where the price traded sideways for the next five days.

Following this, the UNUS SED LEO price recorded a jump of approximately 23%. Since then, the price has been constantly trading in a closed range and is on the verge of testing its resistance level, the outcome of which is unpredictable. Moreover, the LEO token requires a jump of only 24% to claim a new all-time high in the crypto market.

The Moving Average Convergence Divergence (MACD) displays a weak histogram, indicating a decreased buying and selling pressure in the crypto space. Further, the averages show a neutral trend, suggesting uncertainty in the future price action of this altcoin in the market.

If the market regains momentum, the bulls will prepare to test its upper limit of $8 during the coming time, resulting in it recording a new ATH. Negatively, if the altcoin continues to display a neutral trend, then the token will face hurdles in achieving new high.