The cryptocurrency market is recovering from its recent decline, and some altcoins are showing signs of a bull run. We have picked out 3 prominent coins that could explode and rally this week.
#1. Fantom (FTM)
First on the list is Fantom. This altcoin has been gaining momentum since mid-May. Trading at $0.38 at the time of writing, the altcoin is approaching a breakout point of a Falling Wedge pattern. This bullish pattern suggests a 77% upside potential for FTM once the altcoin breaks out. This puts a target for FTM at $0.68. While Fantom may not reach this level, it could rise to $0.50.
However, if Fantom fails to clear the $0.41 resistance, it could fall back to test the $0.29 support. This would result in stability for FTM and invalidate the bullish thesis.
#2. AAVE (AAVE)
While AAVE hasn’t exactly exploded in price recently, it seems to be on track to do so in the coming days. Currently trading at $110, AAVE is looking at a potential breakout from an ascending expanding wedge pattern if it can replicate the 20% gain from last week.
This is highly likely as the bullish momentum has built up significantly. Once above $116, AAVE could see a jump to $129, which would be the breakout point. A rally from here would push AAVE to $167, a 29% gain.
But if this altcoin fails to generate enough bullish momentum, it may not be able to break above $116. Since this has happened in the past, a repeat would invalidate the bullish thesis and send AAVE back to $100.
#3. Monero (XMR)
Monero ’s price is following a Falling Wedge pattern similar to Fantom, and it is on the verge of a breakout. The bullish pattern suggests that XMR could surge nearly 17% if it successfully breaks out.
This sets the target for the rally at $181, which is the yearly high for XMR. While Monero may not reach $181, it could rise to $165. Since this level has been tested as resistance in the past, the altcoin will need stronger bullish signals to be able to grow beyond this point.
On the other hand, if it fails to close above $158, the bullish thesis could be completely invalidated. The altcoin could get stuck below this level, stabilizing above $150.
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