The crypto market has been recovering strongly since last week's mass liquidation.
Beam, Akash, and FET are trading in descending wedges and waiting for impulse rallies after breaking out.
Injective is gearing up for something massive despite current bearish trends.
Aptos is currently in a battle between its bulls and bears and will likely initiate a breakout soon.
Investors should wait for the bullish triggers before opening positions and exercise caution during trades.
The crypto market is doing a great job at recovery, especially considering how last week began with a massive liquidation that wiped north of $1 billion in positions across the market.
This time around, the week is beginning with plentiful greens across the board and a good amount of strength on the part of the bulls.
Here are some of the cryptocurrencies to watch over the next seven days for the best chance at a profitable week.
According to CoinMarketCap data, Beam is one of the best-performing cryptocurrencies in the short term.
In the 24 hours before writing, we had a price increase of around 15%, along with a sensible 6% increase over the last week.
Beam’s price action
The cryptocurrency is worth watching out for because of the ongoing descending wedge in its daily timeframe.
Watch out for Beam
We can see in the illustrated chart above that the cryptocurrency is aiming for a break above this formation.
Investors should consider watching out for a decisive break and close above the $0.0199 resistance, which would count as a new higher high.
This breakout and the resulting move might bring Beam an extra 200% rally as it explodes towards $0.0442.
Akash is another top gainer with impressive short-term price movement.
The cryptocurrency's price was up by around 15% in the 24 hours before writing and by an even more impressive 18% on a weekly basis.
Akash’s price performance
This makes Akash highly bullish and worth watching, especially given the ongoing channel formation in its daily chart.
Akash’s price performance
The illustrated chart shows that the cryptocurrency has recovered and rebounded from the channel's lower trendline.
The bulls are now pushing against the bears and should be able to move upwards by an extra 40% to the $3.9 zone, where the bears are likely waiting.
A 40% weekly price increase is already impressive enough. However, if we see a break and close above $3.9, the resulting price jump is expected to bring another 30% move to the top of the channel, around $4.8.
FET is also another top gainer, according to CoinMarketCap and TradingView.
The cryptocurrency is up by around 10% in the 24 hours before writing despite being down by around 7% over the weekly timeframe.
FET’s price performance
The charts, however, present a bullish case for the cryptocurrency.
It currently trades in a descending wedge formation, which is beginning to tighten.
We should see the bulls continue to push up
This means that a breakout is bound to happen sooner or later.
On the daily chart's RSI, we have a bullish crossover, indicating that the bulls are gaining strength and may see a break towards the upside very soon.
Investors might want to keep an eye out for a break above the psychological $1 mark to confirm this outlook.
The injective was up by around 9% in the 24 hours before writing and by around 5% in the weekly timeframe.
Injective’s price action
The cryptocurrency appears bearish at a glance in the charts, especially considering its descending channel.
Possible price action for Injective
However, the last test of the channel's bottom was around the $14.32 price level, which held the cryptocurrency up in November 2022 and led to the 300% rally to its $52 yearly high in March this year.
Injective has successfully retested this price line during last week’s market slump.
If history repeats, we should see another rally and breakout from the top of the channel soon, leading to a 178% price rally overall towards $50 In the next few months.
At the time of writing, Aptos is up by a little more than 6% over the daily timeframe, supported by an 11% price increase in the last week.
Aptos’ performance
In the charts, the cryptocurrency trades within an extremely narrow descending trendline, showing that bears have the upper hand.
Aptos’ price action
However, the RSI on the daily chart has slowly but surely gained ground and is now in the neutral zone.
This means that the bulls have spent time between April and now gaining strength against the bears.
We can already see this class of investors taking action, and a break and close above the channel's upper trendline around $6.55 would be the major confirmation of bullish strength.
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.