Altcoin Surges 11% in a Day, Breaks Multi-Week Range
An altcoin has sparked renewed investor interest, with its trading volume surpassing $440 million and a surge of over 11% in a single day. The asset broke out of a multi-week range, approaching a major sell wall at $0.000123.
The crypto asset's price movement over the past 24 hours has been impressive, climbing from around $0.000085 to above $0.000107. This extended upward swing indicates robust demand among traders. The breakout above the mid-range resistance near $0.00010 suggests increasing market confidence. However, a failure to clear the $0.000123 resistance may result in a temporary pullback toward the $0.00009 region before another attempt higher. The broader structure of the chart suggests a brief consolidation near the midline, around $0.00012, before a continuation. A successful breakout above the resistance zone could trigger an accelerated rally toward the $0.00015 mark. If the momentum is sustained, the next potential target for the altcoin is around $0.00015. The bullish momentum remains intact as long as the altcoin stays above the $0.00010 support level.
The altcoin's recent performance signals a strong uptrend, with investors showing renewed interest. While there may be temporary pullbacks, the overall outlook suggests a potential rally toward the $0.00015 mark, given the asset's recent momentum and market confidence.
