Some altcoins saw little gain in the second month of 2023, resulting in an almost sideways market trend. However, despite the turbulent mood among market players, the crypto market has shown the emergence of a strong uptrend. According to crypto analyst Selena, these technical configurations could help the 3 altcoin projects bull run in March.
First altcoin project: Ripple (XRP)
Between the two downward trend lines, the current XRP price correction is supported. The altcoin price has dropped 11.7% over the past five months during this correction phase and is currently trading at $0.379 per token. However, this corrective phase is a well-known component of the bullish flag pattern. The pattern, according to theory, typically occurs during an already established bull trend, where the minor correction is intended to offset the overbought and take a short break before the next bull cycle begins.
XRP 4-hour chart / Source: TradingViewAs a result, cryptocurrency holders and those looking for an entry point can watch for an upside break from the pattern’s resistance trendline. The previous bullish trend will continue after this breakout and provide an entry opportunity. In a bull scenario, a breakout of XRP from the overall trendline could push the price towards $5.1.
Solana (LEFT) comes in second place
As you follow on Kriptokoin.com, Solana price fell flat after reaching $28.6 in January after a rapid rise. Therefore, the altcoin price has remained stable for over a month and is stuck between the $26.8 and $20 support levels.
LEFT 4-hour chart | Source: TradingViewIn any case, this limited range likely represents a short retesting period for buyers. This could rekindle the bullish momentum. If there are chances of an upside break from the $26.8 resistance, the positive pressure will increase. Altcoin price may hit these targets as a result of this breakout: $30.5, $34.6, and then $39.
Last candidate altcoin for bull run: Uniswap (UNI)
Uniswap’s price action over the previous seven months reveals the development of a round bottom pattern. This bullish continuation pattern represents steady progress and a slow change in price action. The cryptocurrency show shows a short-term sideways trend as the market sentiment is still uncertain. Still, a bullish pattern could lead the cryptocurrency to surge above the $7.78 resistance.
UNI 4-hour chart / Source: TradingViewDue to this breakout, altcoin price may be tempted to test the $9.65 neckline resistance, which will increase the buying pressure. In any case UNI is under optimal ascension conditions.
58303
