Crypto Hotshots 2022 🔥♨️

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram
Voice of Crypto
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
Reading: Top 5 Altcoins Primed for a Breakout
Share
  • bitcoinBitcoin(BTC)$28,340.00
  • ethereumEthereum(ETH)$1,809.54
  • tetherTether(USDT)$1.00
  • binancecoinBNB(BNB)$317.22
  • usd-coinUSD Coin(USDC)$1.00
  • rippleXRP(XRP)$0.57
  • cardanoCardano(ADA)$0.387289
  • staked-etherLido Staked Ether(STETH)$1,806.10
  • dogecoinDogecoin(DOGE)$0.075973
  • matic-networkPolygon(MATIC)$1.14
  • Events
  • Videos
  • Podcast
Voice of CryptoVoice of Crypto
Aa
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
  • Services
  • Know Us
Search
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
Follow US
Copyright © 2023 Voice of Crypto. All Rights Reserved
Voice of Crypto > News > Top 5 Altcoins Primed for a Breakout
News

Top 5 Altcoins Primed for a Breakout

Jim Haastrup
Last updated: 2023/03/14 at 12:17 PM
Jim Haastrup Published November 7, 2022 March 14, 2023
Share
VOC, Voice of Crypto, Altcoins primed for Breakout

Key Insights

  •  5 Altcoins primed for a breakout are BAT, LIT, SUSHI, LTC, and THETA.
  • Between May and September, the price of LIT formed a double bottom pattern around the $0.5 zone, which is generally interpreted as a bullish signal.
  • BAT’s price broke over a short-term declining resistance line that had been valid since mid-August.

Over the past two weeks, there has been a significant spike in the price of altcoins across the market. This continuous price surge has led to a significant bullishness regarding investor and trader sentiment for the cryptocurrency market.

Contents
Key InsightsAltcoins- #1: Litentry (LIT) #2: Basic Attention Token (BAT)#3: Litecoin (LTC)Sushi (SUSHI)Theta (THETA)

Overall, hopes previously bashed against the bear market’s rocks have been revived for a forthcoming altcoin season.

Although several altcoins have risen past important resistance zones in the past weeks, some still have a long way to go for a confirmed breakout, while others appear to be starting their journey to the upside.

Altcoins- #1: Litentry (LIT)

Between May and September, the price of LIT formed a double bottom pattern around the $0.5 zone, which is generally interpreted as a bullish signal.

Chart showing double bottom from May to September, VOC
Chart showing double bottom from May to September | Source: Tradingview

After hitting a low around the $0.67 zone, the price of LIT started to rise along with the rest of the crypto market. On 3 November, the price of LIT hit an important support zone of around $1.1.

Throughout the week, LIT has registered a breakout but failed to confirm this zone as support. The RSI on the daily chart has risen above the neutral 50 mark and may also see the price of the cryptocurrency continue to rise.

Chart showing possible breakout on LIT, Altcoins, VOC
Chart showing possible breakout on LIT | Source: Tradingview

Conversely, if the price of LIT fails to close fully above this support level before the bears take control again, LIT may reverse and fall again toward the $0.7 zone.

 #2: Basic Attention Token (BAT)

On  2 November, the price of BAT broke over a short-term declining resistance line that had been valid since mid-August, and the following day it reached a high of $0.352.

Chart showing breakout on BAT
Chart showing breakout on BAT | Source: Tradingview

The RSI, which rose above 50 after creating a bullish divergence, coincided with the breakout (blue line above).

After a retest of the descending trendline, the price action on BAT retested the $0.29 zone and rose. However, the cryptocurrency has hit an important resistance zone around $0.345 (red line below) and appears to be on the verge of a breakout.

Chart showing breakout on BAT, voc, voice of crypto
Chart showing breakout on BAT | Source: Tradingview

This region (red line) has been a vital source of support and resistance to cryptocurrency since May. If the BAT price can rise above it, it is expected to rally toward $0.470.

#3: Litecoin (LTC)

After breaking the range low of $60 to the downside in early June, LTC has started to correct itself to the upside. However, LTC has failed to break above the ascending trendline that has been holding it down ever since.

Chart showing ascending trendline on Litecoin, VOC, Voice of crypto
Chart showing ascending trendline on Litecoin | Source: Tradingview

The $70 resistance level has been in place since the start of June and is being tested by the LTC price action. If Litecoin successfully breaks through this line, a long-term declining resistance line near $91 would be the next target.

Chart showing breakout on Litecoin, Altcoins
Chart showing breakout on Litecoin | Source: Tradingview

The RSI on the daily chart is currently in the overbought zone, decreasing the likelihood of a breakout happening. However, the investors and traders in the market have their fingers crossed.

Sushi (SUSHI)

Since staying below the $1.95 support region in early may, SUSHI has been trying to get back above it. After one attempt in June and another in November, SUSHI has hit the $1.95 resistance again and is on the verge of a confirmed breakout.

Chart showing price retests of the $1.95 zone, VOC, Altcoins
Chart showing price retests of the $1.95 zone | Source: Tradingview

Although the cryptocurrency price has managed to break above this zone, a clear breakout is yet to be confirmed. SUSHI has to close above this level with a daily candle for a confirmation of the bulls’ control of the market.

Conversely, if the cryptocurrency fails to close above this zone before the bears take control again, SUSHI may see a decline to the downside and retest the $1 zone.

Theta (THETA)

In April, the price of THETA fell below the $1.4 resistance. This decline resulted in a low of $0.91 on 13 October.

Chart showing break below the $1.4 support, VOC, Voice of crypto
Chart showing break below the $1.4 support | Source: Tradingview

After hitting a $0.91 low in mid-October, the price of the cryptocurrency has started to rise and now appears to be heading for the overhead resistance around $1.38. The price of THETA needs to rise further upwards and close with a daily candle above this point for a confirmed breakout and upward movement to the next support, around $2.

Chart showing breakout on THETA , VOC, Voice of crypto
Chart showing breakout on THETA | Source: Tradingview

If a breakout fails to happen on the price action of THETA, the cryptocurrency may make another lower low around the $0.9 zone.

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.

You Might Also Like

Solana Price Analysis: Institutional Investment Boosts SOL Bullish Momentum

5 Crucial Things About CFTC Suing CZ Binance

How First Citizens Bank Acquiring SVB Deposits & Loans Can Benefit Crypto

G7 Nations to Push for Stricter Crypto Regulations

XRP Dominates Cryptocurrency Market with Highest Weekly Gains

TAGGED: Altcoin
Share this Article
Facebook Twitter Email Copy Link Print
Previous Article Solana Solana (SOL) Price Prediction 2022 – 2023
Next Article What's Behind Optimism's OP Token's 75% Weekly Jump Top 5 Cryptos to Watch Out for This Week: 7 Nov 2022
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Binance

Follow US

Find US on Socials
Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Subscribe to our Newsletter

Get Newest Articles Instantly!

Ledger
Popular News
Web3 Shorthand
Web3 Shorthand: A Glossary for Crypto Newbies
Solana SOL VOC
Solana Price Analysis: Institutional Investment Boosts SOL Bullish Momentum
Quick-Tips-To-Avoiding-A-Fake-Crypto-Wallet
Quick Tips To Avoiding A Fake Crypto Wallet

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Telegram
Voice of Crypto

Voice Of Crypto hits a beat with almost 15 million users, churning out the best news and content in the Web3, crypto and blockchain space

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

  • Advertise With Us
  • About Us
  • Privacy Policy

Copyright © 2023 Voice of Crypto. All Rights Reserved

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?