While Bitcoin and Ethereum are struggling to break through resistance levels, several altcoins are showing signs of bullishness.
Altcoins like Klaytn, Helium and THORChain seem poised for incoming breakouts.
Others, like Lido DAO, have some distance to cover before a breakout and rally.
Rallies on all these ranges between 50% - 300% over this week or the following.
Overall, investors should consider risk versus reward before making decisions or opening positions.
The crypto market has remained relatively stable lately, with Bitcoin trading just underneath the $60,000 mark.
The altcoin market, on the other hand, is bound by no such constraints.
While Bitcoin struggles to break above $60,000 and Ethereum battles the $2,700 price level, specific altcoins are bucking the trend and soaring to new highs.
Here are some of these altcoins to keep an eye out for over the next few days for a better chance at a profitable week.
Klaytn is highly bullish (14%) on the daily timeframe and is even arguably the most bullish of the top 100 cryptocurrencies.
We have almost the same price movement on the weekly timeframe, with a 14.17 rally.
Klay’s price
On the charts, we can see why Klay is so bullish: The candlestick for 17 August is an extremely long one.
Even more importantly, we are looking at a descending wedge on Klay’s price chart, as well as an incoming breakout from the upside.
Klay’s price action
As shown, we are currently looking at a massive incoming breakout from this formation, which means that $KLAY might be in for a massive pump this week.
Depending on the strength of the bulls, we can expect anything from a 54% to 115% rally.
Helium is also incredibly bullish, gaining 10% on the daily timeframe around the time of writing and a very impressive 20.6% on the weekly timeframe.
Helium’s price action
In the charts, the Fibonacci retracement levels show that HNT is moving up with relative ease.
HNT’s price trajectory
After a brief consolidation from last week, we can see the cryptocurrency already breaching the 38.2% price level around $7.456.
This means that within this week or next, we can see the cryptocurrency rally from its current price level of $8.9 (23.6% FIB) to $11.23 (0% FIB).
RUNE is also impressive, with a 6% price increase on the daily timeframe at the time of writing.
On the weekly, the cryptocurrency is up by around 17%, which also shows a great deal of strength on the part of the bulls.
THORChain’s (RUNE) price
In the charts, RUNE trades inside a descending channel, which shows near-term bearishness.
However, despite this, the cryptocurrency is doing a great job at rebounding from the lower trendline of this formation and is currently facing resistance at the psychological $4 resistance.
RUNE’s price action
If we can see a valid break and close above this price level this week, RUNE remains poised for a 50% continuation rally to the top of this channel and even a possible breakout if the Bulls play it right.
Lido was also up by around 6% over the last 24 hours before writing but down by around 2.5% over the last week.
Lido’s price
Lido's price action is interesting in that it currently trades in a "make it or break it" phase.
This means that it currently trades between the $0.89 and $1.175 price levels—one of the last bullish lines of defence against the bears.
Lido’s price performance
Investors should approach Lido with caution. If we see a break below $0.89, the resulting crash might take the cryptocurrency down to the $0.45 level.
However, if the bulls surprise everyone and hold the fort here, we should see a pretty impressive rally on Lido, considering it is currently eyeing a 300% rally to its $3.35 all-time high.
Gala is the least bullish of all on the daily timeframe, especially with its 5.7% price increase in the 24 hours before writing.
Like Lido, it is also bearish on the weekly timeframe and has been down by around 2.5% in the previous seven days.
Gala’s price performance
However, according to the charts, the cryptocurrency is in the middle of a fresh rebound from the bottom side of the formation shown.
A descending trendline on Gala
The RSI on the daily chart also shows strength on the part of the bulls, especially with the cryptocurrency's efforts at maintaining balance on the neutral side.
So far, Gala's 200-day SMA is around $0.0377, about 130% above its current price.
Investors will likely see a breakout from the descending trendline shown above pretty soon, depending on how quickly the bulls can launch a push-back.
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.