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Major Mid-Cap Altcoins Double as Crypto Market Rebounds!
With the price of Bitcoin Reclaiming the $59,000 milestone, the cryptocurrency market has seen a significant jump in its global valuation. Additionally, major tokens have successfully retested their crucial support levels, resulting in a strong bullish bounce.
On the other hand, memecoins, mid-cap and small-cap altcoins have seen the biggest gains, highlighting the growing interest of investors in these crypto tokens to maximize their short-term gains.
Read on as in this article we have covered the market sentiment, price analysis and possible price targets of Sui (SUI), Fantom (FTM) and Jupiter (JUP) for the coming weeks.
On (ON):
THE Price SUI has successfully retested its crucial trendline support in the 1D time frame. This has led to a jump of around 11% in the past day. Furthermore, the altcoin is also on the verge of breaking out of its descending channel pattern, which suggests an increased positive influence.
TradingView: SUI/USDT
The Relative Strength Index (RSI) has been in a strong uptrend towards its midpoint from the oversold range, indicating an increase in buying pressure. In addition, the average is showing a bullish convergence, highlighting that the price of SUI coin will continue to increase in value this week.
If the bulls continue to gain momentum, the Sui cryptocurrency will surpass its $0.8925 resistance level and head towards its $1.1760 high. On the contrary, if the bears regain momentum, the Sui token will fall towards its $0.6125 low this month.
Ghost (FTM):
In a context of increasing price volatility in the cross-border financial system, FTM Price has seen a jump of about 10% in the last 24 hours with a trading volume of 158.158 million dollars, a change of +24.23%.
TradingView: FTM/USDT
The technical indicator, MACD, showed a steady decline in the red histogram, highlighting an increase in price action in the cryptocurrency space. Additionally, the averages have seen a bullish convergence, suggesting a positive outlook for the Phantom Price.
However, the 50/200-day EMA cross showed a Death Cross in the 1D time frame, suggesting mixed sentiment for the FTM coin price in the cryptocurrency market.
Suppose the bulls continue to gain momentum, then Fantom cryptocurrency will prepare to test its upper resistance level of $0.680. However, if the market experiences a bearish reversal, FTM token will fall towards its important support level of $0.390.
Jupiter (JUP):
After correcting around 4% in the last seven days and 18.90% in the last 30 days, Jupiter 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 cryptocurrency space.
TradingView: JUP/USDT
The RSI indicator is approaching its midpoint in the 1D time frame, highlighting an increase in bullish sentiment. In addition, the SMA is showing a positive crossover, highlighting that 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 upper high of $1,160 in the near future. On the negative side, if the bears overpower the bulls, this altcoin will plummet towards its low of $0.540.
Read also: Crypto Market Overview: Bitcoin Surges Above $59K, Ethereum Surges Above $31K, While Pepe Tumbles