Top 3 Cryptocurrencies with Bullish Pattern could Explode in June – Crypto News – Crypto News
Connect with us
top cryptocurrencies top cryptocurrencies

Business

Top 3 Cryptocurrencies with Bullish Pattern could Explode in June – Crypto News

Published

2 years ago

on

Published 10 minutes ago

The cryptocurrency market recently witnessed a sudden surge in buying pressure mostly under the influence of macroeconomic events such as the US debt ceiling deal, Amid this recovery, several crypto coins are getting back on the recovery track to reclaim lost ground. Thus, today we’ll analyze the top cryptocurrencies with a bullish pattern that can offer massive growth amid the anticipated recovery rally of June.

Also Read: Debt Ceiling Deal Blocks 30% Proposed Tax On Crypto Mining, Confirms Congressman

Solana(SOL)

SolanaSource- Tradingview

During the last five weeks’ correction phase, the Solana price strictly resonated between two converging trendlines of the wedge pattern. The trendlines gradually closing together reflect the sellers are losing momentum which eventually leads to buyers retaking trendline control.

Thus, on May 27th, the sol price gave a massive breakout from the pattern’s resistance trendline indicating a positive switch in market sentiment. As of now, the SOL price trades at $20.5, with an intraday loss of 1.39%.

If the coin price manages to sustain above the breached trendline, the buyers may drive the prices to a possible target of $24 or $26, registering a max gain of 27%.

Chainlink (LINK)

chain linkSource- Tradingview

Amidst the recent volatile phase in the crypto market, the sideways trend of Chainlink price suitable support at $6.2. Using this level as the base support, the LINK price shows the formation of a double bottom pattern in the daily time frame chart.

This pattern accumulates bullish momentum and often triggers a significant rally upon the breakout of its resistance neckline. Currently, the chain link price traders $6.59, but under the influence of this pattern, the price should reach the overhead resistance of $6.68.

If buyers could successfully flip this barrier into potential support, this altcoin would rise another 10% to hit the $7.47 mark, followed by $8.5 and $9.5.

Cosmos(ATOM)

CosmosSource- Tradingview

In the daily time frame chart, the Cosmos coin shows the formation of a descending triangle pattern, Although in theory, this pattern is a downtrend continuation pattern, the RSI indicator which reflects the momentum of the asset’s recent price is rising higher.

This bullish divergence indicates the underlying bullish momentum is growing, and thus, the ATOM price also holds the possibility to breach the overhead trendline. A bullish breakout from this barrier with a daily candle closing will drive the price 43% higher to hit $15.4.

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian(at)coingape.com

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending