The post Top Performing Altcoin Picks Set for Explosive Rallies This Week appeared first on Coinpedia Fintech News
Amidst the altcoins picking up the pace, the Gaming and Metaverse tokens are finally stepping into the limelight. After a strong winter phase, the space is warming up as the AI race and the altcoins season raise investors’ interest and confidence.
As the top performers of last Sunday, the Gala Games (GALA) and Decentraland (MANA) display a bullish round of immense momentum. With this reversal, the altcoins showcase their eagerness to jump and reclaim the lost levels by capitalizing on the underlying demand.
Amidst the newfound momentum and rising potential, let’s have a look at the GALA and MANA price charts to catch the next bullish surge.
Will Gala, Top-performing Altcoin, Give Another Breakout?
Following the month of bearish winter in January 2024, the altcoin finally finds strong ground at $0.021, at the 61.80% Fib level. However, the market revival warms up the Gala price chart, leading to a quick reversal.
Source: TradingView
Accounting for a price jump of almost 50% this month, the gaming token is finding a huge increase in demand. The uptrend pumps the market price beyond $0.030 and currently trades at $0.0335 with an intraday gain of 10%.
Further, the bull run forms a rounding bottom pattern in the daily chart with a neckline at $0.036, the previous peak.
With the rising demand and surge in trading volume, the bullish breakout chances are rising for Gala Games. If the buyers manage to surpass $0.036, the altcoin can reach the $0.050 psychological mark.
Also Read: ETH Price Surfaces Above $3,100 As Whales Activity Surges
Will MANA Price Breakout Rally Reach $1?
In a similar situation to Gala Games, the Decentraland’s native token, MANA, showcases a similar trend. After a pullback to the 50% Fibonacci level close to $0.40, the altcoin price regains bullish momentum.
With the overhead resistance trendline breakout leading to a bullish reversal, the meta token surges higher.
Source: TradingView
Accounting for a 25% jump in the last twenty days, the altcoin reclaims the psychological mark of $0.50. Currently, the MANA price trades at $0.5324 and has an intraday gain of 3.46%.
Further, the 25% spike in trading volume supports the bullish surge and projects a high likelihood of uptrend continuation.
As per the Fibonacci levels, the MANA price surpasses the 78.60% level and prepares a challenge to the $0.56 peak. Upon this breakout, the altcoin can jump to $0.74, the 1.618 Fib level. Hence, the $1 mark is still a distant dream for Decentraland that could be achieved later in 2024.