The altcoin market saw significant growth last week, outperforming Bitcoin and Ethereum and possibly continuing this trend.
Internet Computer is bullish, with a potential for further gains this week, aiming to break above $9 resistance.
Bittensor is attempting a comeback, targeting a break above $270 for an 80% upswing.
SUI is up 18% on the weekly and might test the $0.89 resistance this week, with a potential 60% rally if broken.
Despite a bearish week, DogWifHat is showing a daily upswing and might surge if it breaks above the $1.95 resistance.
The crypto market went through some ups and downs in the previous week.
However, the crypto market has been relatively green in the last seven days compared to the highly bearish week before.
The previous week saw Bitcoin's market cap move to the upside by 4.65%, with 6.41% for Ethereum, according to data from CoinMarketCap.
The market’s performance from last week
The rest of the altcoin market, excluding the stablecoins, on the other hand, saw growth of around 7%, which is a major step up.
This means that the altcoin market grossly outperformed Bitcoin and Ethereum, and as things turn out, we might be set to see this growth continue this week.
Here are some of the major altcoins to keep an eye out for in the coming week.
Internet Computer is one of the most bullish cryptocurrencies on the daily and weekly timeframes.
Internet Computer’s price
As shown, the cryptocurrency is up by around 10% over the last 24 hours before writing and by another 20% over the previous week.
This means that as far as things go, we might be poised to see further gains this week.
This outlook is supported by the cryptocurrency’s rebound from the descending trendline in the chart below:
Internet Computer’s price action
The long lower wick on the candlestick from 5 July shows that the bulls became active after the cryptocurrency hit a bottom of $5.8 and have pushed it to a retest of the $8.88 resistance.
We can expect the cryptocurrency to consolidate in its attempts to break above this price level.
However, if we eventually see a break above the $9 price level, Internet Computer will become poised to continue further upwards to the $15.3 resistance or higher.
Bittensor is just as bullish as Internet Computer in that it is up by around 9% in the 24 hours before writing and by a staggering 21% in the previous week.
Bittensor’s price
According to the charts, the cryptocurrency is attempting a comeback from the $196 - $200 support and is making its way upwards, one digit at a time.
Bittensor in the charts
The cryptocurrency is testing the $270 price level at the time of writing and is now aiming for a break above.
Investors should consider monitoring the price of the cryptocurrency around this level.
If we see a decisive break and close above, Bittensor might be ready for another 80% upswing, leading it up to the $490 price level or even higher.
Sui is up around 8% on the daily timeframe and is slightly less bullish than the other two.
Sui’s price
The chart above shows an 18% price increase in the last week, which is still very impressive. It shows that SUI is bullish in the short, medium, and long terms.
After rebounding off the $0.57 price level, the cryptocurrency retested $0.758 and has managed to break through to the upside, explaining the ongoing 18% price increase in the daily timeframe.
Sui’s price trajectory
This week, the cryptocurrency is bound to test the $0.89 - $0.9 price level, where a breakout or rejection is set to occur.
If a breakout happens, SUI will be set to rally by another 60% to the upside, eventually hitting the $1.45 price resistance or even higher.
DogWifHat has suffered immensely at the hands of its bears. However, over the last 24 hours before writing, we have had a 10% price increase and a bearish but still promising 7% dip from last week.
DogWifHat’s price
Here’s why WIF is set to make the most massive comeback ever.
According to the charts, the cryptocurrency trades are on top of an ascending trendline and have just made a strong rebound off this support level.
This explains the daily 10% price upswing, as shown below:
DogWifHat’s price upswing
Investors should be aware that the cryptocurrency is trending up but might soon have to contend with a powerful resistance level of around $1.95.
A break and close above this $1.95 price level would be one of the biggest signals that the bulls are back in control.
If we see a break above the previous local high of $2.37, DogWifHat will be more than poised to continue upwards to $3.6 or even higher.
On the daily timeframe, SEI is the least bullish cryptocurrency on this list, considering its 6% upswing.
However, on the weekly, the cryptocurrency is just as bullish as the others and is up by around 19%, as shown:
SEI’s price performance
SEI, according to the charts, is trading within a descending triangle and is attempting to break out, as shown below:
SEI’s price action
The charts also show that a significant resistance sits at around $0.3322. If a break above occurs, the cryptocurrency will become poised to continue upwards and even break above the triangle's upper trendline.
Investors should watch out for what happens between this $0.3322 price level and the upper boundary of this triangle around $0.42.
If a breakout occurs, we might see Sei continue further up by another 80% to the next major resistance around $0.6 or even higher.
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.