No sooner than Bitcoin reclaimed $57,000, the market participants appear to have become hopeful of the upcoming trend. Furthermore, some altcoins have retained significant profits even during the recent collapse and thus may emerge as top performers in the next bullish action.
Zcash (ZEC)
The latest bearish action had whipped out more than $600 billion from the crypto markets, but ZEC’s price faced marginal loss. Moreover, the recent rebound has recovered more than 95% of the losses which makes the crypto one of the most sustainable altcoins. Now that the price continues to trade within a bullish pattern, a breakout may not only attract huge profits but also assist the price to form new yearly highs.
The ZEC price remained strong against the bearish forces while the market collapsed, a couple of days before. However, the RSI held the average bands firmly which helped the price to remain within the bullish range, in a bull flag. The bears appear to have capitulated on the upper resistance of the channel as the price is facing upward pressure after rising over $34. Meanwhile, breaking above the range may pave the way for a new yearly high above $36 which may kick-start a fresh bullish range.
Helium (HNT)
The Helium price has been under extreme bearish pressure throughout the first half of the year, forming consecutive higher highs and lows. Nevertheless, the token demonstrated acute strength during the recent price crash and as a result, the price is attempting to break above the upper resistance. But the question arises: does the token rise above the crucial resistance?
Looking at it from a wider perspective, the HNT price appears to have formed another lower high but a close observation suggests the price is gearing up for a breakout. The Bollinger bands are squeezing a little, which suggests a drop in volatility. Hence, if the HNT price fails to break out of the range, then it is speculated to remain consolidated within the descending parallel channel. On the other hand, MACD displays a drop in selling pressure, which validates an accumulation phase that may prevail for a while.
Aave (AAVE)
Being a little different from the above-mentioned altcoins, the AAVE price maintained a steep ascending trend regardless of the bearish forces that acted in between. Even though the market crashed heavily, the token held the lower support finely which assisted the token in triggering a fine rebound. However, the bulls appear to have fallen weak which may drag the levels slightly lower, but it may result in a catapult action very soon.
As seen in the above chart, the AAVE price sustains within the rising wedge and hence is expected to maintain an ascending consolidation to reach the upper resistance. The token reclaimed the 3-digit levels as the RSI held the lower trend line finely, even in times of extended bearish heat. Therefore, the Aave price is believed to drop slightly below $100, which may trigger a huge rebound with a bullish continuation to $120 in the coming days.
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