- The cryptocurrency market is showing signs of increased activity, potentially leading to new record highs for Bitcoin.
- Arweave (AR) has surged by 113% over the past week, indicating a potential breakthrough of resistance levels and a target price of $44 within the current week.
- Shiba Inu (SHIB) has experienced a remarkable 128% increase in value over the last week, encountering resistance at $0.00002353 and possibly aiming for $0.00002955.
- Theta Network (THETA) saw an impressive 80% surge in its value last week, requiring a breakthrough of the $2.3 resistance level to trigger a potential 56% rally to $3.6.
- Axie Infinity (AXS) witnessed a 26% surge in value last week and could potentially see a 60% rally to $16.3 if it manages to maintain support above $9.6.
If you're still waiting to see returns on your investments, there's no need to panic.
It seems that the cryptocurrency market is revving up once more after a challenging bearish period, with Bitcoin showing strong potential to reach or surpass its previous peak.
For investors, especially in the coming week, there are a few alternative coins worth keeping an eye on.
First up is Arweave ($AR).
Arweave has been on an upward trend for weeks now.
CoinMarketCap data indicates that the cryptocurrency has more than doubled in value over the past week alone.
This impressive surge, a 113% increase, showcases significant bullish momentum.
Charts suggest Arweave's bullish run has been so robust that it has breached its upper Bollinger band on the daily chart.
The cryptocurrency is currently challenging the $30.8 resistance level, with the possibility of a breakout on the horizon.
If this resistance is convincingly breached, Arweave may target the $44 mark in the near term.
Next, we have Shiba Inu ($SHIB).
Shiba Inu, known for its bullish tendencies, has seen a remarkable 128% surge in the last week.
Trading at $0.0000219, the cryptocurrency has surpassed the $0.00001 resistance multiple times.
Although the $0.00002353 resistance presents a challenge, the recent pullback suggests a consolidation phase before a potential rally towards $0.00002955.
Theta Network ($THETA) is also experiencing a significant uptrend.
With an 80% increase in value over the past week, Theta is breaking through resistance levels with ease.
However, the $2.3 zone might offer some resistance, potentially leading to a 56% rally towards the $3.6 zone upon a successful breakout.
Axie Infinity ($AXS) may not have seen as dramatic gains as others, but it's showing promise.
Despite a modest 26% increase in the past week, Axie Infinity's charts indicate a breakout above the $11.15 mark.
While a retest of $9.6 suggests a delayed reaction, maintaining above this level could pave the way for a substantial 60% rally towards $16.3 or higher.
Lastly, Gala ($GALA) has displayed bullish momentum, albeit less than some others.
With a 46% increase in the last week, Gala is consolidating between $0.036 and $0.049.
While facing resistance at $0.049, a sustained move above this level could trigger a rally towards the next major resistance at $0.07.
Please note that investing in cryptocurrencies carries inherent risks, and thorough research is essential before making any financial decisions.
#AR #SHIB #THETA #AXS #Crypto2024
