Bitcoin is stagnant, but several altcoins (Axie Infinity, Wormhole, Celestia, ORDI, The Sandbox) are showing bullish signs.
Axie Infinity (AXS) is showing signs of a possible 66.9% rally if it breaks above the $8.38-$8.139 resistance.
Wormhole (W) is facing a possible 21% or 42% rally, based on its ability to break above the $0.64-$0.67 resistance.
Celestia (TIA) can rally to $21 if it holds above $10.36 support.
The Sandbox (SAND) is coiled and ready to spring up by a possible 90% surge if the bulls are able to trigger an upswing this week
Bitcoin has spent another week in the consolidation phase, trading underneath the $69,000 - $70,000 zone as the bears continue to attempt to drag the cryptocurrency back down to $65,000—or even $60,000.
However, this bull-bear story isn’t true for the altcoins. Not all of them, at least.
Data from CoinMarketCap shows that amid the uncertainty on Bitcoin, some altcoins have been performing very well, with more set to follow.
In this article, we will be going over some of the biggest altcoins to monitor this week, based on past performance and bullish potential within the next few days.
According to data from CoinMarketCap, Axie Infinity is up by an impressive 8% over the last 24 hours and is even doing well with a 4% rally in the weekly timeframe.
Axie Infinity price
This difference between the daily and weekly rally percentages on Axie Infinity shows that the cryptocurrency's rally is a relatively recent one, and investors are still pretty early to the party.
In the charts, the outlook on Axie Infinity is pretty straightforward.
Axie Infinity’s price action
The last of the short to medium-term bears likely have trades open in the resistance block shown above.
This means that if the bulls can succesfully push the cryptocurrency into a break above the range between $8.38 and $8.139, AXS will enter a parabolic rally, straight up to $13.5 at the very least.
This means that we expect AXS to rally by a staggering 66.9% from current price levels this week.
At the time of writing, Wormhole is trading at a staggering 10% price increase over the last 24 hours.
Wormhole’s price
This price increase is also complemented by a 14% price increase in the last week, indicating that the bulls are fully active on this one.
In the charts, we can see something interesting. Just like the resistance block with Axie Infinity, Wormhole is facing something similar.
At the time of writing, the cryptocurrency is attempting a break above the $0.64 and $0.67 price levels.
Wormhole’s price action
This means that if we see a break and even a close above this price range, we can expect the cryptocurrency to rally further up by 21% to the next local resistance around $0.775.
However, if the bulls apply enough momentum, this rally can go further up by 42% to $0.915.
Celestia is very bullish as well on the daily timeframe, after rallying by around 6%. On the weekly timeframe, we have a more impressive 22% rally on the cryptocurrency.
Celestia’s price
According to the charts, we can see that Celestia successfully broke above the $11 resistance as shown below, and appears to be finalizing its post-breakout consolidation.
Celestia’s price action
This presents a straightforward outlook for the cryptocurrency.
Celestia is unlikely to get taken over by the bears if we do not see a break below the previous higher low around $10.36.
In essence, Celestia remains primed for a medium-term rally to $21, if we do not see sub-$10.36 prices.
Ordi’s has been massively bullish in the last week, despite being in a minor 1% decline at the time of writing.
Ordi’s price action
The cryptocurrency now trades at a price of $45.7 after rallying 18%, despite starting last week at around $38.
In the charts, we can see that ORDI is only down because it hit a wall around the $51.56 resistance.
ORDI’s price action
The bulls will likely attempt to prevent ORDI from going further down between the current price levels and $42.44.
In all, the price reversal on ORDI is completely normal, and as soon as the bears run out of steam, the bulls should swing into action and attempt to push the cryptocurrency up above the $51.56 resistance once again.
In the last 24 hours before the time of writing, SAND has risen by around 2.5%.
SAND’s price
SAND may not be as bullish as the rest of the cryptocurrencies on this list in terms of daily or weekly price movement.
However, the cryptocurrency is a lot like a loaded spring at this point and could be ready to bounce at any given moment.
Down in the chart below, we can see that SAND is trading on top of an ascending trendline, and is gearing up for the right moment.
SAND’s price action
If the bulls are able to trigger the spring this week, we might be seeing SAND rally by around 90% to the upside, eventually hitting a high of around $0.8292 or even higher.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it 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.