After ending last week with a bearish trend, the Crypto market has rebounded significantly.
FTT showed a 6% daily and 9% weekly increase, with a possible106% gain if bullish trends continue.
UNI surged by 50% over the past 30 days and, with continued bullish pressure, could climb as high as $21.
STX is trading at a discount after a 30% decline last week, and it shows possible recovery targets between $2.1 and $3.839.
ADA is struggling to reclaim the $1.32 mark but could reach a cycle high of $6, while SOL will likely reattempt the $200 zone again soon.
The Crypto market has made a spectacular comeback this week, especially after ending last week on an incredibly bearish note.
At the time of writing, Bitcoin has recovered after crashing as low as the $92,000 zone to the $97,000 price level.
According to data from CoinMarketCap, the total market cap is around $3.35 trillion, and trading volumes are healthy at $151 billion.
The Crypto market's overview
As illustrated, the Crypto Fear and Greed Index has cooled to a reading of around 59/100, indicating that the market is approaching a balanced outlook.
The altcoin market is still on its way to recovery compared to Bitcoin, with the altcoin season index taking a more neutral stance.
With this in mind, here are some of the best altcoins to keep in mind for a profitable trading week ahead.
FTT is currently the best-performing cryptocurrency on the daily timeframe, considering its 6% price increase.
The cryptocurrency is also comparatively solid in the weekly timeframe, with a price increase of around 9%, as illustrated.
FTT’s price performance
According to the charts, the cryptocurrency has been doing well ever since its bounce back from the psychological $1 support.
On the more extended timeframe (1W), FTT appears to be in the middle of a classic cup and handle formation, as illustrated.
FTT in the charts
Naturally, this would mean that if the bullish conditions across the market hold, FTT will likely trend further upwards and hit another psychological high around the $6 mark.
This would constitute a 106% price increase from current prices before consolidating between $6 and $4.4.
A breakout from here could lead the cryptocurrency to its pre-2022 highs.
Uniswap has had a spectacular month so far, between November and December.
According to the charts, the cryptocurrency has advanced upwards by as much as 50% in the last 30 days.
Price performance on Uniswap
According to the charts, the Uniswap token has had difficulty breaking through the $12 mark since breaking below in January 2022.
After numerous false breakouts and breakout attempts, the charts show a clean break and rebound from this price level, as illustrated.
Breakout from $12
Depending on how much upward pressure the bulls apply, nothing much stops UNI from shooting upwards to as high as the $21 mark or even further.
Stacks was one of the worst-hit cryptocurrencies on the weekly timeframe, with a nearly 30% decline so far.
This, of course, means that the cryptocurrency is trading at a discount, as illustrated below:
Stacks in terms of price
According to the charts, the cryptocurrency has rested almost perfectly on a multi-month ascending trendline of around $1.7.
Incoming price recovery for Stacks
Considering that the last bearish liquidation spike happened around 5 August, Stacks is set to rebound off this trendline. A break below the $1 mark is the only invalidation of this signal.
This said, possible price targets for the cryptocurrency include $2.1, $2.448, $2.77, $3.182 and $3.839.
Cardano had a stiff week, especially after hitting the $1.32 high and reversing for a consolidation.
Cardano’s price performance
According to the charts, the cryptocurrency is down by less than 2% over the monthly timeframe, which indicates resilience amid the generally negative market outlook.
Cardano’s price performance
The extra-long tail from the candlestick on 20 December shows that the bulls were active around the $0.822 price level.
The chart outlook also shows an ongoing struggle to push the cryptocurrency upwards above the $1 mark.
If the bulls succeed this week, we could see Cardano break above the $1 mark once again, reclaim the $1.32 mark, and continue upward toward $2.
Cardano’s resurgence appears more dependent on the general market’s outlook for this week. However, renowned analyst Ali believes the cryptocurrency could be headed for a cycle high of $6.
According to data from Coinmarketcap, Solana has proven to be quite resilient compared to other cryptocurrencies in the top 100.
The cryptocurrency is only down by less than 1% on the daily timeframe, despite heavy losses on the weekly and monthly.
Solana’s price performance
According to the charts, the cryptocurrency is testing a key support zone between $188 and $179.
Solana, according to the charts
Interestingly, this price level previously served as resistance from March to November earlier this year.
The RSI and stochastic indicators on the daily chart currently show oversold conditions, indicating that a rebound could be incoming for Solana.
The only invalidation of this price outlook would be a break below the $155 price level with a daily candlestick.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.