The post Top Altcoins To Buy In This Breakout Season appeared first on Coinpedia Fintech News
With a bullish week starting to gain momentum, the bull run in low-cap and midcap coins is soaring higher. Recovering from the recent dips, these top-performing altcoins offer a positive trend ahead. Will the renewed interest of buyers fueling the altcoins lead to a 2x surge or more?
Top Performing Altcoins To Buy:
Polygon (MATIC)
Registering a 7.21% jump in the past 24 hours, the Polygon Matic price reveals a bullish uprising. With a streak of six bullish candles, the Matic price has increased by 16% in the recent bull run.
With a double bottom reversal, the Matic price gives a breakout rally of a falling wedge pattern in the daily chart. The breakout run challenges the 50-day simple moving average. The altcoin price currently trades at $0.4729 with an intraday gain of 2.56%.
The underlying momentum is increasing, with the daily RSI line exceeding the 50% halfway line. A potential breakout of the 23.60% Fibonacci level at the $0.50 psychological mark will pump the MATIC price to $0.69.
Further, a potential surge can eventually reclaim the $1 psychological mark. Conversely, the support levels for the altcoin are present at $0.4299 and $0.3841.
Avalanche (AVAX)
The AVAX price trend is declining throughout the daily chart. However, the recent bullish reversal from the $20 support level reveals a refreshed trend.
With a streak of 6 consecutive bullish candles, the altcoin has increased by 17% in the recent run. Currently trading at $23.59 with an intraday gain of 5.21%, a bullish engulfing candle marks a double-bottom breakout.
With the next resistance at $24.27, the uptrend is heading towards the overhead resistance trendline. Further, the bullish crossover in the MACD indicator and the daily RSI line crossing above the 50% halfway line indicate rising buying pressure.
A potential breakout rally could challenge the next support levels at $32.70 and $40 before hitting the $50 psychological mark. Conversely, the support levels are at $20 and $18.
Arweave (AR)
Despite a declining trend, the AR price action reveals a triangle formation in the daily chart. With the broader market recovery, the AR price jumps 9.62% overnight to give a bullish breakout. Currently, the AR price is trading at $23.44 with a Doji intraday candle.
With a bullish crossover in the MACD indicator, the RSI line skyrockets above the 50% mark. Hence, the bullish trend momentum is increasing significantly. As the breakout run gains momentum, the altcoin price can reach the $30 mark this week. Optimistically, the bull run can extend to the $35 mark.