Amid the crypto market hitting a crossroads near the weekend, the altcoins market is ending the week on a minor recovery note. With the increasing chances of a breakout rally next week, many altcoins offer a simple buy low, sell high opportunity.
With the altcoins ready to skyrocket, here are the top three choices to buy for a breakout rally next week!
With a market cap surpassing the $1 billion mark, the PYTH network has increased by 3.13% in the past 24 hours. Currently, the PYTH token is trading at $0.2896, with a recovery rally gaining momentum.
Revealing a triangle pattern in the daily chart, the bull cycle from the $0.24 support level teases a breakout rally. The PYTH token surged by 8.38% last night to form a bullish engulfing candle.
Currently, it is taking resistance from the overhead trend line. The MACD indicator gives a bullish crossover with the RSI line surpassing the halfway level. As the technical indicators turn bullish, the recovery rally is expected to surpass the overhead trend line over the weekend.
Based on the Fibonacci levels, the breakout rally is expected to find resistance at 23.60% and 38.20% levels at $0.4489 and $0.5745. Hence, the overall likelihood of the PYTH network reclaiming the $0.50 psychological mark is increasing.
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With a market cap of $926 million, the QNT price is trading at $76.71 with a 24-hour rise of 7.99%. The QNT price has increased significantly over the last 14 days with a 14% jump last week.
Reflecting a bullish reversal from the crucial support of $58.39, the QNT price reveals a double-bottom reversal. The reversal rally breaks a long-coming falling-channel pattern and signals a conclusion to the correction phase.
Currently, the recovery rally is challenging the 23.60% Fibonacci level at $77.72. Upon a bullish breakout, the uptrend is likely to face resistance at 38.20% and 50% Fibonacci level near $89.99.
As the underlying momentum shifts, the MACD indicator regains a positive alignment. Further, the RSI line is close to hitting the overbought boundary.
Hence, the likelihood of QNT price reclaiming the $100 psychological mark is on the charts. On the flip side, the crucial support levels are present at $70.00 and $60.00.
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With a long-coming resistance trendline in the daily chart, the recovery rally in the PENDLE token finally surpasses the bearish influence. With a critical breakout rally in the daily chart, the PENDLE token reclaims the $3 mark.
Further, the recent bull cycle accounts for a 30% rise with six consecutive bullish candles. The recovery run surpasses the 23.60% Fibonacci level at $3.321.
A minor intraday pullback of 0.79% teases the potential retest of the Fibonacci level breakout. Furthermore, it marks a small rounding reversal in the daily chart.
With the recovery rally gaining momentum, the MACD indicator shows a bullish crossover gaining momentum. Further, the RSI line is sustained above the halfway line, with positive growth approaching the overbought boundary line.
The target levels for the altcoin stand at $4 and $4.58. Conversely, the crucial support stands at $3.321 and the $3 psychological mark.
With the long-coming trendline breakout, the upside chances are to reach the $7 mark by the end of 2024.
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