A recent technical analysis of the cryptocurrency market has identified three assets presenting critical chart patterns. Cardano (ADA), COTI, and Toncoin (TON) show mixed signals, but they are approaching decisive price levels. Analyst Valdrin, from BeInCrypto, highlights that these movements will define the short-term trend. They are considered altcoins with bullish potential if key support levels manage to hold firm.
Cardano (ADA) has experienced a notable drop after reaching a new yearly high of $0.46. The price is now retreating dangerously toward a long-term support trendline. Although the weekly RSI (Relative Strength Index) is decreasing, it still remains above the 50 level. The price action in the coming days will determine if it bounces off this support or if, conversely, it suffers a bearish breakdown.
Meanwhile, COTI has shown considerable strength against the market. It recently managed to break a very significant descending resistance line. This line had kept the price down for 550 days. After reaching a high of $0.064, the asset pulled back. However, it validated that old resistance as a new support level. The RSI remains on the rise, suggesting positive momentum.
Toncoin (TON) also confirmed an important bullish breakout. The asset surpassed the horizontal resistance area of $2.30. Subsequently, it made a pullback move and successfully validated it as support. With a weekly RSI firmly above 50, technical analysts suggest a clear path. The next price target could be the resistance located at $2.60.
Are we at the beginning of a new “altseason”?
Monitoring these altcoins is vital in the current crypto market context. Bitcoin dominance (BTCD) is showing signs of weakness. It was recently rejected at a key resistance level. Historically, a sustained drop in Bitcoin dominance often precedes an “altseason.” If BTCD confirms its decline, it could inject fresh capital into the altcoin market. The strength of the underlying blockchain of these projects (Cardano, COTI, and TON) supports the technical interest observed.
The technical movements of these assets can serve as a barometer. If COTI and TON manage to robustly maintain their breakouts, they would confirm growing investor confidence in the sector. For ADA, the situation is much more tense and decisive. A successful bounce off its long-term support would be crucial for its recovery. Investors are watching if these movements are the prelude to a broader rally or just temporary fluctuations. A failure at support levels could indicate general market weakness.
The next few days will be decisive for Cardano, COTI, and Toncoin. Technical analysis suggests that COTI and TON currently have the clearest outlook. Both have surpassed key resistances and confirmed them as support. However, the cryptocurrency market remains highly volatile. The confirmation of these support levels will dictate the trajectory of these altcoins with bullish potential for the rest of the quarter.
