The crypto market is currently in an indecision phase, with Bitcoin struggling around $69,000. However, several altcoins are experiencing bullish surges.
PEPE is up 62% over the week, has broken its previous all-time high, and could be poised for more gains. However, its RSI suggests a possible short-term profit-taking.
UNI is up significantly on both daily and weekly charts, after breaking above a major resistance.
Similar to Uniswap, Lido has surged over 50% in a week, breaking above a key resistance level and targeting even higher prices.
BONK, is reflecting a resurgence in the memecoin sector and is up 25% over the week
The crypto market is still in its indecision phase, with the bulls and bears struggling for dominance, and Bitcoin’s price action showing uncertainty.
At the time of writing, the cryptocurrency trades at the $69,000 zone, which is right underneath the crucial $70,000 zone.
Moreover, Bitcoin’s behaviour around $70,000 could be the determinant of whether the entire market goes up or down over the next few days.
The crypto market’s heatmap
Amid the chaos, however, we have several cryptocurrencies showing promising signs of recovery.
Here are five of them in no particular order—five cryptocurrencies to keep an eye out for this week.
1. PEPE (PEPE)
PEPE is down by around 1.5% over the last day, which reflects the general trend of the rest of the market.
PEPE’s price
The cryptocurrency trades at around $0.00001522 at the time of writing but is up by a staggering 62% over the last 7 days.
In the charts, we can see that PEPE is this bullish because it broke above its previous all-time high around $0.00001 sometime last week, and has been aiming for new highs ever since.
PEPE’s price action
As shown above, the cryptocurrency is trading above most of its major moving averages and is showing signs of absolute bullish dominance indeed.
Why should you keep an eye out for PEPE?
After creating a new all-time high at the $0.00001430 price level, the cryptocurrency is now trading in uncharted waters and seems very poised to continue further upwards.
The only chink in PEPE's proverbial armour is its daily RSI and the ongoing "overbought reading", which suggests that the bulls might be considering taking profits before long.
Even in the daily timeframe, UNI is up by around 5%, and is even higher in the weekly timeframe, with a percentage increase of 45%.
Uniswap’s price
At the time of writing, we have UNI at a price of $11.37, and the cryptocurrency seems poised to continue further upwards.
In the charts as illustrated below, we can see that UNI broke above the resistance level presented by the $9.5 - $10.38 price levels.
Uniswap’s price action
We can see that UNI is aiming for higher price levels from here, and is aiming for a retest and possible break above the $11.8 local high from 8 April.
If we see a break above this price level and the bulls keep up the momentum, it would be one of the first few signs of a Uniswap rally towards the $17 local high from 6 March.
Just like Uniswap, Lido is bullish on all timeframes.
The cryptocurrency is up by around 3.3% over the last day and by a staggering 51% over the last week.
Lido’s price action
In the charts, we can see that just like Uniswap, Lido broke above a crucial resistance level around $2.3 sometime last week, and is aiming for higher highs from here.
Lido’s price action
The cryptocurrency is currently testing the $2.685 price level and could be on its way to breaking above and even reclaiming the $4 price level this week.
As long as the bulls keep up the upward pressure.
Pendle is the next on the list, with a minor intra-day decline of around 1.2%, and a staggering weekly increase of 41%.
Pendle
CoinMarketCap data shows that the cryptocurrency trades at around $6.85 at the time of writing, and is currently as bullish as can be.
According to the charts, we can see the reason for this bullishness on Pendle’s part, as shown below:
Pendle’s price action
After declining for more than a month between April and May, Pendle appears to have found support at the $3.8 price level and has been aiming upwards ever since.
At the current rate, Pendle is expected to break above the $7.54 local high from 11 April this week, after which it will be free to explore a weekly target of $8.34 or even higher.
The memecoin market appears to be in the middle of a resurgence this week, considering the price action of BONK.
Bonk’s price
At the time of writing, the cryptocurrency trades at around $0.00003449 and is down by 4% over the last day. However, in the past week, the cryptocurrency has moved to the upside by around 25%, in an impressive show of strength from the bulls.
BONK’s price action
The charts show that the cryptocurrency broke above the $0.00003060 price resistance around 20 May, and has been consolidating above ever since.
This week, the bulls are expected to finalize this consolidation phase and push the cryptocurrency further upwards.
Once this happens, BONK is expected to travel further by 40% to $0.0004800 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.