Leading cryptocurrency Bitcoin has traded mostly sideways in the recent trading week, struggling to break above the 28,500 level. This looming supply pressure has driven a small decline across the crypto space, however, as highlighted below, selective altcoins have managed to overcome the general market uncertainty to create their own bullish narratives. If macro crypto sentiment shifts to a bullish stance, these altcoins could see a more pronounced rally.
TWT Price Analysis: Bullish pattern hints at significant gains
The Trust Wallet Token price has formed a clear double bottom pattern over the past four months, a technical formation often associated with a bullish reversal after a sustained downtrend.
In just two weeks, the token price surged from a low of $0.75 to an impressive $1.008, a commendable 34%. Moreover, the uptrend broke through the neckline resistance of the pattern at $0.99 on October 2.
Maintaining momentum above this pivot point could set the stage for a move higher into the $1.35 area, which could represent a gain of 36.5%.
RNDR Price Analysis: Bullish setup suggests 50% rally ahead
On the weekly timeframe chart, the RNDR token price shows the formation of a cup-and-handle pattern. This pattern is often considered a major shift in market trend as the asset undergoes a long period of accumulation during its development.
Currently in the control phase of this pattern, RNDR prices have rebounded strongly from the $1.2 area, rising 44% in the past seven weeks to finally reach $1.8.
If the textbook dynamics of this pattern play out, we could see the coin targeting the neckline resistance around $2.7 with a projected 50% rally in the near future.
BSV Price Analysis: Support trendline leads bullish recovery
The prevailing downtrend in Bitcoin SV price has seen a fresh relief rally since mid-June. Over the past 4 months, the rising support trend has helped buyers to resume bullish momentum at dynamic support.
The daily chart shows that every past retest of the support trendline has witnessed a notable bounce, reflecting that buyers are settling on the peak. As of price time, BSV price is trading at $34.99 and has once again moved back towards the support trendline.
If the bullish momentum persists at this support level, the coin should gradually rise above the $50 mark and touch the near-important resistance level of $56.
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