- Bitcoin remains stagnant, but several altcoins are showing bullish potential, including Axie Infinity (AXS), Wormhole (W), Celestia (TIA), ORDI, and The Sandbox (SAND).
- Axie Infinity (AXS) could potentially rally by 66.9% if it manages to break through the $8.38-$8.139 resistance range.
- Wormhole (W) is poised for a possible rally of 21% to 42%, contingent on surpassing the $0.64-$0.67 resistance level.
- Celestia (TIA) has the potential to reach $21, provided it maintains support above $10.36.
- The Sandbox (SAND) is primed for a significant upswing, potentially surging by 90% if bullish momentum is triggered this week.
Bitcoin has experienced another week in a consolidation phase, trading below the $69,000 - $70,000 range as bearish pressure attempts to push the cryptocurrency back to $65,000 or even $60,000.
In contrast, the situation for altcoins is different. Data from CoinMarketCap shows that despite the uncertainty surrounding Bitcoin, some altcoins have been performing exceptionally well, with more poised to follow.
This article highlights some of the major altcoins to watch this week based on their past performance and potential for bullish movement in the coming days.
1. Axie Infinity (AXS)
Axie Infinity has seen an impressive 8% increase over the last 24 hours, according to CoinMarketCap, and a 4% rally over the past week.
This difference in daily and weekly rally percentages indicates that Axie Infinity's upward movement is relatively recent, suggesting that investors are still early in this trend.
The price action of Axie Infinity shows that if the bulls can push the cryptocurrency above the $8.38 - $8.139 resistance range, it could enter a parabolic rally up to $13.5. This represents a potential 66.9% increase from current levels.
2. Wormhole (W)
Wormhole has experienced a significant 10% price increase over the last 24 hours, complemented by a 14% increase over the past week, indicating strong bullish momentum.
In the charts, Wormhole is attempting to break above the $0.64 - $0.67 resistance range. A successful break and close above this range could result in a further rally of 21% to the next resistance at $0.775, with potential to reach $0.915 if the bullish momentum continues.
3. Celestia (TIA)
Celestia has shown bullish behavior with a 6% rally on the daily timeframe and a more impressive 22% increase over the week.
The charts show that Celestia has broken above the $11 resistance and is consolidating post-breakout. As long as it remains above the previous higher low of $10.36, Celestia is primed for a medium-term rally to $21.
4. ORDI
ORDI has been very bullish over the last week, despite a minor 1% decline at the time of writing. The cryptocurrency is currently trading at $45.7 after an 18% rally, starting the week around $38.
The charts show that ORDI's decline is due to hitting resistance at $51.56. The bulls are likely to prevent further declines between the current levels and $42.44. Once the bears' momentum fades, the bulls are expected to push ORDI above the $51.56 resistance again.
5. The Sandbox (SAND)
SAND has risen by around 2.5% in the last 24 hours. While its daily or weekly movements aren't as bullish as the other cryptocurrencies on this list, SAND is poised for a potential breakout.
The charts show that SAND is trading on top of an ascending trendline, preparing for a significant move. If the bulls trigger this move, SAND could rally by around 90%, reaching highs of approximately $0.8292 or higher.
Disclaimer:
Voice of Crypto aims to provide accurate and up-to-date information but is not responsible for any missing facts or inaccuracies. Cryptocurrencies are highly volatile financial assets, so conduct thorough research and make your own financial decisions.