Highest Crypto Gainers of the Week; TWT, RNDR, BSV Price Analysis

In the recent trading week, the leading cryptocurrency Bitcoin, traded largely sideways as it struggled to break past the 28,500 level. This looming supply pressure has nudged a slight decline across the crypto space, yet, selective altcoins, as highlighted below, have managed to defy the overarching market uncertainty, carving a bullish narrative of their own. Should the macro crypto sentiment pivot to a bullish stance, these altcoins could be primed for a more pronounced rally.

Also Read: OpenAI CEO Slams U.S. Government’s ‘War’ on Bitcoin and Crypto

TWT Price Analysis: Bullish Pattern Hints Massive Upswing

Source- Tradingview

The Trust Wallet Token coin price has carved out a clear double-bottom pattern over the past four months, a technical formation frequently associated with bullish reversals after sustained downtrends. 

In just two weeks, the coin price has surged from a low of $0.75 to an impressive $1.008, translating to a commendable 34% rise. Moreover, this upward movement broke past the pattern’s neckline resistance on October 2nd stationed at $0.99. 

Maintaining momentum above this pivot could likely set the stage for a climb towards the $1.35 region, registering a potential 36.5%.

RNDR Price Analysis: Bullish Setup Hints 50% Rally Ahead

Source- Tradingview

In the weekly time frame chart, the RNDR coin price shows the formation of a cup and handle pattern. This pattern is often considered a major shift in market trend as the asset witnessed a long period of accumulation during its development. 

Currently navigating through the pattern’s handle phase, the RNDR price has bounced assertively from the $1.2 region, accumulating a 44% gain over the previous seven weeks to land at $1.8.

If the textbook dynamics of this pattern play out, we could witness the coin targeting the neckline resistance near $2.7, a projection of a 50% rally in the near future.

BSV Price Analysis: Support Trendline Leads Bullish Recovery

Source- Tradingview

The prevailing downtrend in Bitcoin SV price witnessed a new relief rally starting in mid-June. Over the past 4 months, an ascending support trend has assisted buyers with dynamic support to recuperate their bullish momentum. 

The daily chart shows that every past retest to the support trendline has witnessed a significant bounce back reflecting the buyers are acclimating at their peaks. By the price time, the BSV price trades at $34.99 and is heading back for another revisit to the support trend line. 

If the bullish momentum persists at this support, the coin should witness a gradual rise above the $50 mark and hit the near-significant resistance of $56.