Top 3 Altcoins to Buy This Week as They Are Ready to Commence Their Uptrend Journey
- WBOYOriginal
- 2024-09-19 21:36:131068browse
The crypto market is bouncing back with the U.S. Federal Reserve finally cutting interest rates after four years since the 2020 COVID pandemic.
As the crypto market recovers from the recent downturn, several altcoins have shown promising price movements. Here are three altcoins that are set to deliver 2x gains next week, according to technical analysis.
1. SUI (SUI)
After breaking out of a falling wedge pattern on the daily chart, the SUI token price continues its bullish trend with a rounding bottom reversal. The uptrend in the SUI token has seen a 75% gain over the last 18 days, following the declining trend at the psychological mark of $1.
The bull run has now crossed the 50% Fibonacci level at $1.30 and is set to challenge the 67.80% level at $1.488. Given the Fibonacci level and the breakout rally gaining momentum, the broader market recovery can push the altcoin to the 1.618 Fibonacci level at $3. This would indicate a price increase of 126%.
Additionally, the golden crossover in the 50-200-day EMA is approaching, highlighting the potential for a strong trend reversal.
2. Popcat (POPCAT)
Being one of the top performing meme coins, the Popcat Triangle Breakout Rally is highly anticipated for a bullish trend. The meme coin shows a strong bullish trend, crossing the psychological mark of $0.85.
With a massive surge of 18.93% yesterday, the bull run in Popcat continues with an intraday gain of 3.92% and currently trades at $0.87. The triangle breakout rally gains momentum toward the next psychological resistance at $0.90. A bullish crossover in the 58200 EMA showcases increasing demand for the altcoin, surpassing the 78.60% Fibonacci level.
Based on the Fibonacci level, the next crucial resistances for the Popcat crypto are at $1.16 and $1.39. Thus, with an upside of 60%, Popcat is on the list to consider buying this week.
3. PEPE (PEPE)
The PEPE coin prepares for a trend reversal rally by forming a wedge pattern within a larger falling channel pattern. The PEPE price action teases a breakout rally at play by crossing the overhead trendline in the recent recovery run.
Moreover, the bullish recovery rally shows a price increase of 10% over the last three days, challenging the merged 50 and 200-day EMA. As the recovery rally gains momentum, a breakout above the 200-day EMA will avoid a death cross event.
To support the bullish scenario, the daily RSI line is on an uptrend, crossing the halfway line. Also, an intraday gain of 4.12%, forming a bullish engulfing candle, showcases a strong breakout from the overhead trendline.
Based on the price action levels, the crucial resistances for the altcoin are at $0.0000010, $0.0000012, and $0.00000165. Thus, with an upside of almost 112%, PEPE is on the radar to consider buying in this new crypto bull run.
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