Bitcoin's price has increased significantly in the last week, breaking above the $60,000 mark.
Several altcoins, including Render, Near Protocol, Solana, Klaytn and Sei, show promising growth.
Render and Klaytn are looking towards breakouts from important price levels this week.
Others like Near, Solana and Sei are looking towards bullish continuation patterns after breaking out in the previous week.
The crypto market has been back in action recently, with Bitcoin now solidly above the $60,000 mark.
The cryptocurrency currently trades at around $63,800, having increased by a healthy 7% in the last week.
With this in mind, here are some of the cryptocurrencies to watch on the market today for the best chance at a profitable week.
The Render has been bullish so far and is even green in most timeframes.
The cryptocurrency was up by around 8% in the 24 hours before writing and by a whopping 37% in the previous week.
Render’s price action
According to the charts, the cryptocurrency trades within a descending wedge formation and seems determined to complete its rebound from the lower trendline.
Render’s price performance
The only obstacle to its price growth is the $5.8 - $6.26 range, which the cryptocurrency is currently testing.
If we see a break above this level, the cryptocurrency should rally further up and retest the upper trendline of the wedge formation—likely around $7.4.
If a breakout occurs from here, Render would be incredibly poised to continue upwards to $13.8.
Near Protocol has been massively bullish over the last week and is up by around 20% at the time of writing.
Near’s price action
In the charts, the cryptocurrency trended downwards on this descending trendline, as shown, and was considerably bearish.
Outlook on Near
However, we are looking at an incoming break above the $4.8 price level, which also happens to coincide with the cryptocurrency’s 50-day (red line) moving average.
If Near successfully clears this hurdle this week, the Fibonacci retracement tool shows that the next resistances to keep an eye out for include $6, $7.25 and $8.74.
Conversely, if Near is unable to clear out the $4.8 zone, we might see a slight pullback before the actual impulse move.
Solana used to be a market heavyweight. This time, it appears that the action is returning to the $SOL ecosystem.
After spending weeks trading underneath, we are looking at the cryptocurrency back above the $150 mark.
Solana is back in action.
We also have an ongoing 1.2% price increase within the previous 24 hours and more than a 10% price jump in the last week.
Solana’s price performance
According to the charts, Solana’s growth has been impressive so far. The cryptocurrency even managed to break above its 50-day SMA for the first time since breaking below on 11 August.
However, the Solana Bulls still have one more hurdle to cross.
Before we can be assured that the bulls are indeed back in action, we need to see a valid break above the cryptocurrency's previous local high of $163 on 8 August.
With the bulls' ongoing momentum, this break above seems possible, and we should see Solana poised for a massively bullish week ahead.
Klay has also been massively bullish lately, and it is currently experiencing a 17.34% price increase from the previous week.
Klay’s price action
Klay's price action and profit-taking do take some patience, though.
According to the charts, the cryptocurrency went through a massively successful breakout from the descending wedge, as shown below.
A break and close above $0.18 is needed
This means that the cryptocurrency's consolidation phase is over and is likely to continue further up, regardless.
However, a post-breakout pullback is still possible, and Klay is facing some resistance around $0.18.
With this in mind, investors should look for a valid break and close above this price level to confirm that the upward momentum is still intact.
Sei has risen by a staggering 29% over the last week and is arguably one of the most bullish altcoins currently on the market.
Sei’s price action
Just like Klaytn, we have a breakout from a descending wedge on Sei, along with a healthy enough price action.
The cryptocurrency is testing $0.35 at the time of writing, with the bulls attempting to push prices above.
Sei’s price performance
With this being said, the bulls might lose, and a small pullback might surface.
However, in the long run, the cryptocurrency remains poised for a rally of at least 200% to the $1 mark.
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.