In today’s cryptocurrency market, altcoins are showing signs of recovery after recent corrections. Among the top performers are Biconomy ($BICO ) and Cartesi ($CTSI ), both of which have gained attention due to significant price surges. BICO has risen by over 10%, while CTSI has seen an increase of more than 4%, driven by notable technical breakouts.
These price movements are following key technical patterns, and if the momentum continues, further gains could be in store.
Biconomy (BICO)
Biconomy (BICO) has experienced substantial upward momentum after breaking out of a falling wedge pattern near the $0.2950 level. The token is currently trading at $0.3242, approaching a key horizontal resistance at $0.3334.
If BICO successfully surpasses this resistance, it could pave the way for further upward movement, with potential price targets of $0.40 and $0.47. This would represent a possible 43% gain from the current price level.
Technical indicators support this bullish outlook. The MACD (Moving Average Convergence Divergence) on the 4-hour chart is trending upwards, signaling growing buying pressure and momentum favoring the bulls.
Cartesi (CTSI)
Similar to BICO, Cartesi (CTSI) has also shown strength with a 4% rally following its breakout from a falling wedge pattern near $0.1570. CTSI is currently trading at $0.1657, testing a critical horizontal resistance zone.
A successful break above $0.1668 could lead to additional upside, with the next resistance levels at $0.20 and $0.22. This move could result in a potential 32% increase from the current price.
The MACD indicator on the 4-hour chart for CTSI is also displaying a positive trend, further supporting the bullish sentiment.
Conclusion
Both Biconomy (BICO) and Cartesi (CTSI) are positioned at critical levels, benefiting from favorable technical setups. The broader cryptocurrency market’s recovery provides a supportive environment for these altcoins to break through resistance and potentially achieve significant price gains.
However, traders should exercise caution, as breaking through resistance zones often requires sustained volume and broader market backing. If the overall market continues to rise, BICO and CTSI could see notable price surges beyond their current resistance levels.
