Altcoin Winners: THORChain (RUNE) and Pepe (PEPE)
Over the weekend, the crypto market saw a surge in the prices of two altcoins, THORChain (RUNE) and Pepe (PEPE). These cryptocurrencies broke out from their respective resistance levels, indicating potential upward movements. Let’s take a closer look at each of these winners:
THORChain (RUNE)
- RUNE broke out from a descending resistance line that had been in place since February.
- This breakout suggests that the previous correction is complete, signaling a bullish trend.
- The price reached a high of $1.45 after the breakout, showing sustained upward movement.
- If the increase continues, the next resistance level is at $1.70, a 22% increase from the current price.
- However, a loss of momentum could lead to a drop to $1.20, validating the descending resistance line.
Pepe (PEPE)
- PEPE broke out from a descending resistance line that had been in place since July.
- Despite the breakout, the price failed to move above the $0.0000014 horizontal area, which has now turned into a resistance level.
- A successful breakout could push the price to the next resistance at $0.0000018, a 27% increase.
- However, if the rejection continues, the price may drop by 16% and validate the previous resistance line at $0.0000012.
Toncoin (TON)
- TON initially broke down below the $1.35 horizontal area, indicating a potential downward movement.
- However, the price rebounded and reclaimed the $1.35 area, suggesting that the breakdown was illegitimate.
- A deviation like this often leads to significant movements in the opposite direction.
- If the upward movement continues, TON could reach the $1.90 resistance area, a 33% increase.
- But a bearish reversal could result in a 30% drop to $1.
Hot Take: Altcoins Show Promising Breakouts
THORChain (RUNE) and Pepe (PEPE) have both experienced breakout moments, indicating potential upward movements. These altcoins have shown resilience and sustained upward momentum after breaking their respective resistance levels. Additionally, Toncoin (TON) has reclaimed a crucial support area, suggesting a possible reversal in its downward trend. These altcoin winners demonstrate the potential for profitable opportunities in the crypto market. Keep an eye on these coins as they continue their price movements.
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