Price Analysis View Non-AMP

Will The Altcoins SNX and ENS Price Skyrocket 100% This Week?

Published by
Sohrab Khawas

As the Bitcoin and Ethereum price aims for a bullish week, the altcoins siphon additional momentum in the market for a quick jump. With a trend reversal anticipation in Synthetix and the bull run gaining momentum in ENS, the buyers expect a massive jump this week.

Following the Ethereum ETFs approvals, the altcoins are on a bullish roll as the sentiments improve to fuel trend momentum. In this recovering market, the SNX and ENS prices project a potential bullish surge for a moonshot this week. 

Let’s take a technical look at their price chart and determine the chances of a surge this week. 

ENS Price Aims $28 Break For 60% Upside

With a massive jump of almost 80% last week, the ENS price jump makes a bullish engulfing candle in the 1W chart. Further, the bull run in the altcoin undermines the bearish influence noticed last month. 

As the Ethereum Naming Service price surpasses the 23.60% Fibonacci level, the buyers challenge the $28 supply zone. With a bullish breakout, the extended uptrend could surpass the 50% Fibonacci level at $41.58. 

Optimistically, the buyers can reach the $50 psychological mark by the end of this week if the momentum is sustained. 

Morning Star in SNX Price Soon To Challenge $4 Zone

Amidst the broader market bull run, the Synthetix altcoin siphons additional momentum to kickstart a recovery rally. With a 17% price jump last week, the SNX price action completes a morning star pattern in the 1W chart. 

With this recovery, the trend reversal chances in altcoin has increased significantly. An extended recovery this week will challenge the $5 supply zone for a breakout run. 

Will These Altcoins Explode This Week?

With the increasing likelihood of a bullish breakout, the altcoin prices are ready for a massive jump beyond the critical resistances this week. Therefore, the sideline traders and the long-term HODLers can witness relief and increased demand this week. 

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

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