Markets
Top mid-cap altcoins to surge 2x amid crypto market recovery!
With the price of Bitcoin Reclaiming the $59,000 mark, the cryptocurrency market recorded a significant jump in its overall valuation. Furthermore, major tokens successfully retested their crucial support levels, resulting in a strong bullish recovery.
On the other hand, memecoins and mid- and low-cap altcoins posted the biggest gains, highlighting a growing investor interest in these crypto tokens to maximize their short-term gains.
Dive right in as this article covers market sentiment, price analysis, and potential price targets for Sui (SUI), Fantom (FTM), and Jupiter (JUP) for the coming weeks.
Sui (SUI):
O SUI Price successfully retested its crucial support trendline on the 1D timeframe. This resulted in a jump of approximately 11% in the past day. Furthermore, the altcoin is also on the verge of breaking out of its descending channel pattern, suggesting further positive influence.
TradingView: SUI/USDT
The Relative Strength Index (RSI) has registered a sharp uptrend towards its midpoint of the oversold range, indicating an increase in buying pressure. Furthermore, the average shows a bullish convergence, highlighting that the SUI coin price will continue gaining value this week.
If the bulls continue to gain momentum, the Sui cryptocurrency will break above its resistance level of $0.8925 and head towards its high of $1.1760. On the other hand, if the bears regain momentum, the Sui token will plunge towards its low of $0.6125 this month.
Fantom (FTM):
Amid rising price volatility in the cross-border financial system, the FTM Price recorded a jump of approximately 10% in the last 24 hours, with a trading volume of US$ 158.158 million, a change of +24.23%.
TradingView: FTM/USDT
The technical indicator, MACD, has been showing a steady decline in the red histogram, highlighting the rising price action in the crypto space. Furthermore, the averages have recorded a bullish convergence, suggesting a positive outlook for the Fantom Price.
However, the 50/200-day EMA crossover has exhibited a Death Cross on the 1D time frame, suggesting mixed sentiment for the FTM coin price in the cryptocurrency market.
Assuming the bulls continue to gain momentum, in that case, Fantom cryptocurrency will prepare to test its upper resistance level of $0.680. However, if the market experiences a bearish reversal, the FTM token will plunge towards its important support level of $0.390.
Jupiter (JUP):
After recording a correction of approximately 4% in the last seven days and 18.90% in the last 30 days, Jupiter’s price added 3.28% to its portfolio in the last day with a trading volume of $109.81 million. This highlights an increase in bullish sentiment within the crypto space.
TradingView: JUP/USDT
The RSI indicator is approaching its midpoint on the 1D timeframe, highlighting an increase in bullish sentiment. Furthermore, the SMA is displaying a positive crossover, highlighting that the JUP price will continue to gain momentum this week.
If the market pushes Jupiter price above its resistance level of $0.8445, the bulls will prepare to test its higher high of $1.160 in the coming period. On the downside, if the bears dominate the bulls, this altcoin will plunge towards its low of $0.540.
Read too: Cryptocurrency Market Roundup: Bitcoin Surges Above $59,000, Ethereum Above $3,100, While Pepe Falls