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As the crypto market takes a slow approach in the middle of the week, Bitcoin and other top altcoins are taking it easy. However, the low-cap altcoins amplify the minor upticks for a quick rise and breakout rally opportunities.
While the large caps take it easy, here are some low and mid-cap altcoins ready to end the week on a strong bullish note. So, let’s have a look at our top altcoin picks for a bullish rally.
Altcoins Worth Buying This Week: PENDLE (PENDLE)
With a market cap of $714M, Pendle is ranking at 94th position in the list of top 100 crypto. It has been down by 0.23% in the last 24 hours, and it is currently trading at $4.62.
In the past ten days, it has registered a growth of 41% and marks a rounding bottom reversal. The reversal initiates from the declining support trend line and marks a positive cycle within a falling wedge pattern. The bullish cycle challenges the overhead resistance trend line, surpassing the 50% Fibonacci level.
The bullish crossover in the MACD and signal lines and the rising trend in the RSI line signal a surge in bullish momentum. Considering the altcoin sustains the bullish momentum as the broader market recovers, the breakout rally could surpass the $7 peak and challenge the $1.10 psychological mark.
If the breakout rally continues to gain momentum, the RPL token teases an upside potential of 36% to hit $27 or the 78.60% Fib level. Optimistically, the target at 1.618 Fib level or $41 makes it a must buy DeFi Token in Q3 2024.
The Graph (GRT)
With a market cap of $1.93 billion, The Graph (GRT) is currently trading at $0.20, down 3.64% in the last 24 hours. The token has seen a 62% decline over the past four months, forming a falling wedge pattern.
Recently, GRT showed a 29% recovery from the $0.17 support level but failed to break above the $0.22 resistance, leading to a 9% drop in four days. The price is struggling to hold above the $0.20 support. However, the daily RSI and MACD indicators suggest a potential uptrend.
If GRT can maintain momentum, it may challenge the $0.25 level and the overhead resistance. A successful breakout could push the altcoin price towards $0.45 and potentially $0.50. Optimistically, an uptrend continuation could pump the price to $0.62 in the coming weeks.
CORE (CORE)
With a market cap of $1.24B, Core DAO ranks at 66th position in the list of top 100 crypto. The core token trades at $1.39 and it is down by 3.23% in the last 24 hours. In the daily chart, the altcoin reveals a falling channel pattern.
However, similar to the GRT price action, the core price reveals a positive cycle that struggles to overcome the psychological stress at $`1.50. This resistance hints at a potential inverted head and shoulder pattern. This could result in the falling channel breakout to challenge the 50% Fibonacci level at $2.16.
The positive trend in the MACD and signal lines and the daily RSI line above the halfway line bolster the possibility of an uptrend for the altcoin. As per the Fibonacci levels, the breakout rally could challenge the $3.77 peak in the coming weeks.