The post High Potential Altcoins To Ride The Trend Reversal Rally appeared first on Coinpedia Fintech News
With the altcoins market bouncing back towards the $1 Trillion valuation, the smart money is flowing into the altcoins. Further, with the Bitcoin price aiming to surface above $60K, the altcoins are expected to continue the rally on the bullish path.
With a. So, let’s look closer at the top Solana-based altcoins to watch out as the broader crypto market recovers.
Altcoins To Watch Out: Aptos (APT)
With a massive crash in 2024, the APT price action reveals a double top in the weekly chart. Taking rejection from the massive supply at $20, the altcoin drops near the crucial support level of $5.
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However, the quick reversal of 11.45% this week results in an abrupt end of the downfall and teases a potential trend reversal. If the APT price sustains above $4.72, the chances of a double-bottom reversal could result in a trend reversal.
The buyers could reclaim the $10 mark because the altcoin regains bullish momentum.
ImmutableX (IMX)
Similar to most altcoins, the IMX price trend reveals an ongoing correction and accounts for a 65% drop from the yearly high. The weekly chart reveals a head and shoulder breakdown rally leading to new lows this quarter.
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Breaking below the $1.50 psychological mark, the downfall takes support at the 78.60% Fibonacci level at $1.162. Currently, the altcoin trades at $1.25 and teases a bounce back with the morning star pattern.
With a potential retest of the bearish pattern breakdown, the altcoin price could surge to the 50% retracement level at $2.
Optimism (OP)
The downfall in the daily chart leads to a falling wedge pattern in the OP price action. Rising by 28% in the last 4 days, the bull cycle within the bearish pattern teases a potential trend reversal.
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With a bullish crossover in the MACD indicator, the buyers are ready to challenge the 23.60% retracement level and the overhead trendline. As the broader market recovery picks up pace, the bullish trend could result in a breakout rally. As per the Fibonacci levels, the breakout run could reach 50% Fibonacci level at $3.
