Altcoins
Top 3 Altcoins to Explode with Recovery Rally Next Week
With the possibility of a bullish rally in the cryptocurrency market next week growing, altcoins are a great choice for smart money. As inflows into spot Bitcoin ETFs in the US are increasing, the price of BTC is on the verge of breaking the lost $60,000 level.
Anticipation of a slow move over the weekend gives sideways traders some extra time to buy high-potential altcoins before the massive jump. So, let’s take a closer look at our top 3 altcoin picks poised to explode next week with a recovery rally.
Top Altcoins to Watch: XRP (XRP)
With a market cap of $28.21 billion, the price of XRP coin has broken the psychological mark of $0.50. It has increased by 17% in the last 7 days and reflects a huge jump of 10.62% in the last 24 hours.
The bullish streak continues as the altcoin reverses course from the 0.41 level. XRP price is up 22.70% in the last 6 days after dropping 6.58% on July 7.
Currently, the intraday growth is 7.92%, trading at $0.51, creating the sixth consecutive bullish candle. Furthermore, the altcoin’s price action completes a reversal of the rounded bottom and signals the end of the correction phase.
With a bullish crossover in the MACD indicator, XRP price action reveals a falling wedge breakout pattern. The breakout rally is heading towards the 38.20% Fibonacci retracement level.
With the bullish reversal gaining momentum, the altcoin is set to reach the psychological level of $1.00 this quarter.
Stellar (XLM)
Ranking at No. 30, XLM price reclaims the psychological limit of $0.10 as the recovery rally gains momentum. With a market cap of $2.86 billion, the Stellar token price has increased by 13.21% in the past seven days.
After a 7.36% decline on July 7, the altcoin price has surged 20% in the past six days, with a morning star reversal rally. In addition, the bull cycle breaks above the overhead resistance trend line on the daily chart.
With an intraday gain of a 9.53% jump, XLM price challenges the 23.60% Fibonacci level and forms the sixth consecutive bullish candle. While recovering the psychological level of $0.10, the Fibonacci levels tease a potential jump to $0.15 if the uptrend momentum holds.
Bitcoin Cash (BCH)
With high expectations of Bitcoin’s bullish growth, the price of its close cousin Bitcoin Cash is on the rise. Rising inflows into US Bitcoin spot ETFs and the possibility of Bitcoin breaking $60K are fueling the bullish trend of Bitcoin Cash, the cheapest alternative altcoin.
With a falling wedge in play, the bullish cycle in BCH price teases a potential breakout rally. Furthermore, the recovery rally represents a 20% price jump in five days, continuing a series of bullish candles.
The altcoin is currently trading at $376 and has gained 2.12% intraday to challenge the overhead trend line. With a breakout rally, BCH price could reach the $519 mark before heading higher as the broader market recovers.