While Bitcoin is consolidating, some altcoins like Kaspa and Oasis are in the middle of bullish price movements.
Kaspa gained massive traction after Marathon Digital announced diversifying into it, and it is set to grow further.
Toncoin might break above resistance soon and reach a medium-term target of $10.
Litecoin recently broke a significant trendline and needs to overcome resistance at $78.5 to regain momentum.
Arweave is consolidating after rebounding from $23. A break above $27.5 might help it rally this week.
The crypto market isn't in the most bullish of places, especially considering Bitcoin's consolidation between $62,000 and $60,000 without signs of an incoming breakout.
However, amid Bitcoin's consolidation and apparent lack of direction, some cryptos in the altcoin market are doing well.
Among them are Kaspa, Litecoin, Arweave and several others.
This article will review their past and current performances and discuss what to expect from them this week.
Let’s jump right in.
Last week, Marathon Digital, one of the largest Bitcoin mining firms, announced that it had mined $16 million worth of Kaspa to diversify away from Bitcoin.
For context, Kaspa was created solely to address Bitcoin’s scalability issues.
Because of this and several other technical factors, Kaspa has emerged as one of the most bullish cryptocurrencies on the market so far.
Kaspa’s price
According to the snapshot above, cryptocurrency is one of the most bullish in the market, having gained 6% in the 24 hours before writing and a staggering 20% over the last week.
The charts show that Kaspa trades in an ascending channel and is very close to hitting the top of this formation.
Kaspa’s price
The cryptocurrency is also facing resistance around the $0.2 price level. It should be poised to continue upwards to the top of the formation around $0.21 if we see a break above happen.
However, investors should remember to watch what happens at the upper boundary of this ascending trendline in case of a possible trend reversal to the underside.
Toncoin doesn’t seem very bullish at first glance.
In the last 24 hours before writing, the cryptocurrency is up by around 1.56%, with a 0.5% price increase on the weekly.
Toncoin’s price action
The charts show that Toncoin is trading on top of an ascending trendline and is only trading with this bit of volatility because it is attempting to break above the $7.72 resistance.
Toncoin’s price performance
Traders and investors might want to watch what happens around this price level because a break above $7.72 would set Toncoin back on the path towards its $10 medium-term target.
Litecoin's price movement is almost the same daily and weekly. This is primarily due to the general market sentiment and an ongoing breakdown of an essential trendline in its charts.
Litecoin’s price
According to data from CoinMarketCap, the cryptocurrency has only increased by around 1.8% daily and around 1.2% weekly.
In the charts, we can see that Litecoin broke below the ascending trendline shown below and is now attempting to either retest or break above once again.
Litecoin’s price action
Investors should keep an eye out for what happens at $78.5.
If we see a break and close above this price level, Litecoin will be poised to continue further upward towards the $100 price level.
However, if we see another rejection, the cryptocurrency will be poised to continue downward as the bears take over.
Arweave is also green on most timeframes, with an ongoing 3% rally in the last 24 hours and a 1.36% increase over the previous week.
Arweave’s price
According to the charts, Arweave launched a massive rebound from the $23 price level and is now consolidating for a possible rebound.
Arweave’s price action
According to the chart above, the cryptocurrency is currently testing the $27.5 price level.
We can expect the consolidation between $27.5 and $23 to continue from here.
However, the ultimate signal of a bullish continuation would be a break and close above $27.5, where Arweave will be set to double in price on its way towards $50.
According to CoinMarketCap data, Oasis was up around 3.5% in the 24 hours before writing and by a staggering 8% over the last week.
Oasis’ price
As shown above, Oasis is the second bullish cryptocurrency after Kaspa, and we might just be getting started.
Oasis’ price action
The charts show that Oasis is attempting to recover from a long phase of bearishness and is now trading on top of an ascending trendline, as shown above.
We can expect a rebound on Oasis this week, likely taking it above its previous local high of around $0.137.
If a break doesn't occur, the cryptocurrency will likely face resistance around $0.15 and then reverse for a possible retest of the ascending trendline.
Overall, the outlook for Oasis remains bullish, and we are set to see a massive rally this week.
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.