Amid the crypto market hitting a crossroads near the weekend, the altcoins market is ending the week on a minor recovery note. With the increasing chances of a breakout rally next week, many altcoins offer a simple buy low, sell high opportunity.
As the crypto market approaches a crucial juncture ahead of the weekend, the altcoins market is experiencing a minor recovery to conclude the week on a positive note.
With increasing anticipation for a breakout rally next week, several altcoins present an optimal opportunity for a "buy low, sell high" strategy.
As the altcoins prepare for a potential skyward ascent, here's a list of the top three altcoins to consider for a breakout rally next week!
Top Altcoins Tokens To Buy
Pyth Network (PYTH)
Surging by 3.13% in the past 24 hours, the PYTH network has seen a promising rally as it approaches the $1 billion mark in market capitalization. Currently, the PYTH token is valued at $0.2896, showcasing a recovery rally gaining steam.
Chart: Tradingview
Revealing a triangle pattern in the daily chart, the bull cycle from the $0.24 support level teases a breakout rally. Surging by 8.38% last night, the PYTH token forms a bullish engulfing candle.
Currently, it faces resistance from the overhead trend line. The MACD indicator shows a bullish crossover, and the RSI line is above the midline. As the technical indicators turn bullish, the recovery rally is expected to help the token break past the overhead trend line over the weekend.
Based on the Fibonacci levels, the breakout rally is expected to find resistance at the 23.60% and 38.20% levels at $0.4489 and $0.5745. Hence, the overall likelihood of the PYTH network reclaiming the $0.50 psychological mark is increasing.
Unlock the future of DeFi with PYTH! Explore our PYTH price prediction for 2024-2030 and see where this innovative oracle network could be headed.
Quant (QNT)
With a market capitalization of $926 million, the QNT price is trading at $76.71 with a 24-hour rise of 7.99%. The QNT price has increased significantly over the last 14 days with a 14% jump last week.
Chart: Tradingview
Reflecting a bullish reversal from the crucial support of $58.39, the QNT price reveals a double-bottom reversal. The reversal rally breaks a long-coming falling-channel pattern and signals a conclusion to the correction phase.
Currently, the recovery rally is challenging the 23.60% Fibonacci level at $77.72. Upon a bullish breakout, the uptrend is likely to face resistance at the 38.20% and 50% Fibonacci level near $89.99.
As the underlying momentum shifts, the MACD indicator regains a positive alignment. Further, the RSI line is close to hitting the overbought boundary.
Hence, the likelihood of QNT price reclaiming the $100 psychological mark is on the charts. On the flip side, the crucial support levels are present at $70.00 and $60.00.
Discover where QNT could be headed! Check out our QNT Price Prediction 2024-2030 and its potential in the evolving blockchain space!
Pendle Finance (PENDLE)
With a long-coming resistance trendline in the daily chart, the recovery rally in the PENDLE token finally surpasses the bearish influence. In a critical breakout rally in the daily chart, the PENDLE token reclaims the $3 mark.
Chart: Tradingview
Further, the recent bull cycle accounts for a 30% rise with six consecutive bullish candles. The recovery run surpasses the 23.60% Fibonacci level at $3.321.
A minor intraday pullback of 0.79% teases the potential retest of the Fibonacci level breakout. Furthermore, it marks a small rounding reversal in the daily chart.
With the recovery rally gaining momentum, the MACD indicator shows a bullish crossover gaining momentum. Further, the RSI line is sustained above the halfway line, with positive growth approaching the overbought boundary line.
The target levels for the altcoin stand at $4 and $4.58. Conversely, the crucial support stands at $3.321 and the $3 psychological mark.
With the long-coming trendline breakout, the upside chances are to reach the $7 mark by the end of 2024.
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