Since Bitcoin began correcting from $70,000 to $66,000 a week ago, and subsequently to $65,000, settling now at $61,172, the overall market momentum has waned. Despite this, certain altcoins have shown resilience this week and have recorded significant gains.
In this moderately volatile environment, historically, it has been a fertile ground for select altcoins to surge, some achieving monumental gains and surpassing market expectations.
Here are the top four cryptocurrencies poised to break out of crucial resistance levels:
Kaspa (KAS)
Breaking Out with Curved Correction Kaspa (KAS) is currently trading at $0.1761, marking an 8.9% increase over the past 24 hours accompanied by a substantial 200% surge in trading volume. The price of KAS remains bullish, trading above all moving averages, with technical indicators signaling neutral to buy signals.
Furthermore, the KAS/USDT chart has retested a resistance level at $0.1780 and is now potentially forming a cup and handle pattern. With a few more trading sessions, completion of this pattern could trigger a breakout towards the $0.19 resistance level, with further potential for a rally towards the $2 mark.
Kendu Inu (KENDU):
Kendu Inu (KENDU) is currently trading at $0.000172, an Ethereum-based meme coin that has surged by 280% in the past month. Despite lacking a practical use case or historical track record, KENDU has made a notable impact on the meme coin market.
Last week, the altcoin reached its all-time high (ATH) and now shows potential to surpass the $0.0002 level.
The KENDU/USDT chart reveals Bollinger Bands with the price positioned away from the center line, signaling a bullish trend in an upward direction. Additionally, the narrowing of the bands indicates increasing volatility. With the RSI at 57, the price shows room for upward movement without reaching overbought conditions.
If current trends persist, KENDU is poised to reach $0.0002 and potentially continue its rally.
Aave (AAVE):
Aave (AAVE) is currently priced at $95.34, showing a 4.53% increase over the last 24 hours. The performance of Aave has been notable since mid-May, although it faced challenges sustaining momentum throughout June.
Despite the overall downtrend in June, Aave has shown resilience in the past 7 days, gaining 8.8% and demonstrating consistent upward price action.
The AAVE/USDT chart indicates the price is trading near both horizontal and vertical resistance levels, suggesting the potential for a breakout. The RSI stands at 57, indicating upward momentum.
Moreover, there has been an uptick in Daily Active Addresses (DAU), Total Value Locked (TVL), and other on-chain metrics over the past 15 days. If Aave validates the resistance points mentioned, the next price targets could be $102, $104, $109, and $115. However, a failure to break through these resistance levels may attract bulls to support zones.
Jasmy Coin (JASMY):
Jasmy Coin (JASMY) is currently trading at $0.0313, marking a 4.8% increase over the past 24 hours and showing signs of entering a recovery phase as it attempts to breach the EMA20 trend line.
Earlier in the month, JasmyCoin spiked to a yearly high of $0.044 but struggled to maintain this level, leading to a bearish trend over the past 3 days.
The JASMY/USDT chart illustrates a potential breakout scenario, with the price trading within a descending channel marked by a downward resistance line. A successful breach of this resistance could propel the price towards the $0.02 zone, potentially triggering a further rally.
MACD is intact with the signal line holding up the rally, if the blue line manages to come above the red line, the above breakout picture will be seen in the fee trading session.
