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These two altcoins are poised for a bullish breakout

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THESE 3 ALTCOINS ARE ABOUT TO BREAK OUT | TOP CRYPTO PICKS FOR BULL RUN 2021

These two altcoins are poised for a bullish breakout

These two altcoins are poised for a bullish breakout
CONTENT

  • Komodo (KMD) is trading near the 6500 satoshi resistance, the next target is 15,000

  • Long-term indicators are reversed in a bullish direction

  • TROY failed to gain a foothold above the 70 satoshi mark

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Komodo (KMD) price is approaching historical lows. Technical indicators point to impending bullish reversal.

Meanwhile, TROY (TROY) broke through the area of ​​long-term resistance, it could not hold its positions and returned to the previous range. Until the price consolidates above this line, the mood remains bearish..

Komodo (KMD)

These two altcoins are poised for a bullish breakout

The price of KMD is approaching its historical lows at 6,500 satoshi, moving in a downtrend since July 2019. During this time, the rate has formed several descending peaks.

However, the technical indicators are now giving bullish signals. In particular, the RSI has crossed the 59 mark and is forming a bullish divergence. MACD is also growing and is not showing any signs of fading momentum.

If the price breaks the descending resistance line, the next target will be 15,000 and 20,000 satoshi.

KMD Chart, Source TradingView

TROY (TROY)

Cryptocurrency trader @PostyXBT noted a long-term symmetric triangle for TROY, stating that price is ready to break out of it.

Source: twitter

The TROY price has been growing along with the rising support line since the beginning of June. At the time of this writing, the rate is fixed just above the support line.

There is also an important resistance in the 70 satoshi area. The last breakout attempt was unsuccessful and the coin returned to its previous range.

These two altcoins are poised for a bullish breakout

Meanwhile, the technical indicators are neutral with a slight bullish bias. The RSI is at the 50 level and is not forming a bullish or bearish divergence. However, the current support is a convenient springboard for a rebound. It is reinforced by the 50 and 200-day moving averages that have already formed a bullish cross..

If the price consolidates above this support line, a break above 70 satoshi and further growth to the 110 satoshi area is possible. In case of a downside breakout, immediate support is at 48 Satoshi.

TROY chart, source TradingView

At the time of writing, a breakout is more likely.

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