Bitcoin Surges Above $59,000, Boosting Altcoins.

This movement in Bitcoin triggered a strong rise in major altcoins as they successfully retested important support levels.

Currently, Sui (SUI), Fantom (FTM), and Jupiter (JUP) are among the altcoins signaling a bullish breakout.

Sui (SUI).

Sui (SUI) showed a promising uptrend after successfully retesting an important support trend line on the daily timeframe, resulting in an 11% jump in the last 24 hours. The altcoin is currently on the verge of breaking out of a descending channel formation, indicating increased positive momentum.

The Relative Strength Index (RSI) made a

sharp exit from the oversold range towards its midpoint, indicating increased buying pressure. Additionally, it shows an average

bullish convergence, highlighting SUI's

potential to continue gaining value this

week. If the bulls maintain their

momentum, Sui could surpass the

resistance level at $0.8925 and target the

recent peak at $1.1760. Conversely, if the bears regain control, the altcoin could drop $0.6125 this month.

Fantom (FTM)

Fantom (FTM) also made a significant jump of approximately 10% in the last 24 hours, with trading volume rising by 24.23% to $158.15 million. The MACD technical indicator shows a continuous decline in the red histogram, indicating increased price movement in the cryptocurrency market. Additionally, the averages show a bullish trend, presenting a positive outlook for Fantom's FTM price. However, the 50/200- day cross EMA is evolving towards a Death Cross formation, indicating mixed feelings for FTM in the daily timeframe.

Jupiter (JUP).

Jupiter (JUP) has recently seen a mix of declines and rises, with a 4% increase in the last seven days and a sharp 18.90% drop in the last 30 days. Despite this, JUP increased its value by 3.28% in the last 24 hours with a daily trading volume of $109.81 million, indicating an increase in bullish sentiment.