We cover important developments for the five altcoins on Binance. Accordingly, a bullish pattern has been formed. Which cryptocurrencies are they? Let’s look at the details.
Altcoin PEPE consolidates
The altcoin PEPE price has dropped 21% in the last four days. It consolidates within a falling wedge setup accordingly. An average reversal of the recent drop could push the meme coin to the mid-range of $0.00000168. In some cases, PEPE will revisit the critical barrier at $0.00000172. Accordingly, this means an 11% gain. There is a sure turn of the $0.00000147 support base to a resistance level on the four-hour chart. This will invalidate the recovery thesis.
PEPE price has been in a downtrend for about four days. Currently, the meme coin is on stable ground and awaits a bounce that could extend to key hurdles. PEPE price fell 21% between 14-18 July. The price declined from $0.00000188 to $0.00000148. During this drop, altcoin PEPE formed a series of lower highs and lower lows that, when tied using trend lines, revealed a falling wedge.
Other levels
A breakout from this bullish reversal pattern would trigger a rapid rise to the immediate $0.00000164 hurdle. Lifting this blockade will pave the way for PEPE price to retest the midpoint of the 21% collapse at $0.00000168.
In some cases, the PEPE price may go higher. It could tag the key hurdle of $0.00000172, which has been a source of selling pressure since June 23. In total, a move from the current position of $0.00000156 to that level would constitute an 11% gain for traders.
On the other hand, if PEPE price decisively turns the $0.00000147 support base to resistance on the four-hour chart, it will invalidate the recovery argument. Such a development could open Altcoin PEPE to a steep 13% collapse retesting the $0.00000127 support level.
Bullish pattern for altcoin Hedera
The HBAR token has a 190% increase in 24-hour trading volume. It also has a price increase of almost 5% during the day. This supports the 15% uptrend that started on July 7 and is characterized by a series of higher highs shown on the 1-day chart below.
In particular, trading volume can help identify the type of momentum driving the market. It helps to determine the direction of a price pattern. Also, when trading volume rises, the price of the asset typically moves in the same direction.
When the trading volume increases in line with the price of an asset, it indicates that buyers are showing intense interest in the token. This can also be attributed to a fundamental development or news in the relevant ecosystem. Santiment supports this data, with the volume benchmark rising from 31.42 million on July 18 to 93.02 million on July 19. This translates to a 196% increase in volume within 24 hours.
The Hedera network recently collaborated with corporate players in South Korea and Taiwan. Specifically, the protocol provided a basis for Shinhan, South Korea’s first modern bank, and SCB TechX, Taiwan’s largest financial institution, to launch a trial version of a stablecoin payments proof of concept (PoC).
bull status for Cosmos
Cosmos (ATOM) is currently trading at $9.31. It also solidified its position among the top 25 digital assets. In particular, renowned crypto trading expert Ali Martinez shed light on a compelling observation made on July 19. Martinez spotted a falling wedge pattern on the latest chart. According to Buan, it pointed to the potential for a significant increase in the value of ATOM. Accordingly, the price will potentially come to 10 10 dollars.
Recent data shows that ATOM has observed a slight upward trend with a modest 0.06% increase over the past 24 hours. It also showed an increase of 0.32% over the previous week. ATOM has support at $8.74. This level marks a price point where downside pressure may be limited. On the other hand, there is resistance at $9.78. This level marks a level where the upward move may face some hurdles.
Cosmos has had 16 green days in the last 30 days. However, we see that ATOM is currently trading below the 200-day simple moving average. On the other hand, it should be noted that it has experienced a significant drop of 79% from its all-time high. These factors indicate that caution should be exercised when assessing the current investment potential.
LINK price rose
LINK price is up 10% on the back of a 160% increase in 24-hour trading volume. Chainlink (LINK) price has challenged the current bearish trend in the crypto market as Bitcoin (BTC) failed to give direction. Accordingly, it has risen. The token’s stats are flashing green on CoinMarketCap. This shows that there is optimism in the LINK market. This development comes amid a new network development set to meet users at the intersection of Decentralized Finance (DeFi) and Traditional Finance (TradFi).
Chainlink (LINK) price rose almost 10% on this news. Accordingly, it continues its rise, which started around June 21. This is illustrated by the Parabolic SAR indicator, which continues to track the price of the asset for 30 consecutive days. The Relative Strength Index (RSI) is pointing north, indicating rising momentum. This, combined with the position of the Moving Average Convergence Divergence (MACD) indicator above the middle line, suggests that the bulls are leading the market.
Accordingly, Chainlink price could extend north to tag the $7.7 resistance level. Also, if it is highly bullish, there will be $8.5, the highest level of April 18. Such a move would mean a 20% climb from current levels.
Uniswap price improvement
Uniswap’s new blockchain protocol UniswapX plans to offer better prices. The total value of assets locked in Uniswap climbed to $3.84 billion in response to UniswapX’s launch news. The UNI price has gained about 33% to its holders over the past 30 days on Binance.
Uniswap’s Total Locked Value (TVL) fell to $3.644 billion in June. It subsequently recovered and rose to $3,833 billion in collateral at the time of writing. When we look at Kriptokoin.com, the UNI price increased by 9.2% overnight. On the other hand, Binance has provided its holders with gains of up to 30% in the last 30 days.
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