Bitcoin is nearing a breakout but hasn't quite achieved it yet. On the other hand, Altcoins are generally taking advantage of Bitcoin's stability.
Helium is showing bullish solid signals and might be in for a massive rally to $11.
Jasmy has broken a key resistance level and is poised for a 65% - 40% rally to $0.04469 or higher.
Pyth is bullish in the medium term despite a recent price dip, with an incoming 60% rise.
SATS is attempting to break out of a descending trendline and, if successful, could be set for a 195% rally.
Solana has broken out of a consolidation pattern and will likely continue its upward trend towards $200.
Bitcoin spent most of last week working towards and finally attempting a break above the $69,000 resistance level, which used to be the cycle top from the 2021 bull market.
Bitcoin is still not above this price at the time of writing. However, it trades at around the $68,000 price level, with the breakout's possibility still very much in place.
On the other hand, the altcoin market has tapped into Bitcoin's relative stability and continues to rally to the upside.
This section will review some of the altcoins most poised to take advantage of Bitcoin's position during the week.
Let’s dive in:
Helium is bullish on most timeframes and has gained around 2% in the 24 hours since writing.
The cryptocurrency is also incredibly bullish from the previous week, with a price gain of around 20%, as shown below:
According to charts from TradingView, Helium is cooking a great deal of bullish action within the week.
As shown below, the cryptocurrency has been trading within a descending wedge since early January and has spent most of the year in consolidation after the Q3 rally from 2023.
Finally, we are seeing a breakout from this formation, and the cryptocurrency has everything it needs to rally another 103% to $11 or even higher.
According to CoinMarketCap, Jasmy is also bullish on most timeframes. It was up by around 3.5% in the 24 hours before writing and by another 8% in the last week.
Although not as bullish as Helium in the weekly timeframe, the cryptocurrency’s price action seems pretty strong in the charts.
After spending the last month attempting to break above $0.0315, we are now looking at Jasmy's first break and close above.
We are even seeing a small consolidation of sorts, which heaps some degree of hope for a possible trend continuation.
If the bulls lose their defence of the $0.0315 zone, we might see a decline and retest of $0.027.
However, ultimately, the cryptocurrency remains poised for a 65%—40% rally to its previous all-time high of around $0.04469 or higher.
Pyth, unlike the previous two, is bearish on the daily timeframe. The cryptocurrency has even lost around 2.4% of its value in the last 24 hours before writing.
However, in the weekly timeframe, we have an impressive 9% rally, which shows the cryptocurrency's longer-term strength.
In the charts, Pyth appears to be trading within an ascending channel after hitting a bottom of $0.235 in early July.
This means that the cryptocurrency is bullish overall in the medium term, which is a good sign.
Regardless of the small-scale price dips, the cryptocurrency remains poised to continue further upward by another 60% to the top of the ascending channel, as shown above.
Sats has around 2.5% in price gains over the last 24 hours and a relatively impressive 8.9% price increase in the previous week.
In the charts, The BRC-20 cryptocurrency has been trading along a descending trendline for most of the year, which means that it might be bearish overall.
However, as shown above, the cryptocurrency is now trying to overcome a huge resistance block between the $0.00032 and $0.00036 zones.
Investors should watch out for what happens here because a successful break and close above $0.0009367 will set the cryptocurrency flying, sending it all the way to its yearly high of around $0.0009367 in a 195% rally.
Data from CoinMarketCap indicate that Solana is still in consolidation, as shown by the ongoing 2% decline in its daily timeframe.
However, on the weekly, the cryptocurrency is up by an impressive 7.3% as shown.
According to the charts, Solana had been trading in a symmetric triangle formation since March and only recently had a chance to break out.
The cryptocurrency also appears to have completed its post-breakout retest and is now aiming at nowhere but up.
The current Solana price is around $185. However, a retest of the $200 zone or higher on the cryptocurrency soon wouldn't be far-fetched.
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.