Two altcoins breaking out in crypto bull market

Two altcoins breaking out in crypto bull market

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With bitcoin looking to reach new yearly highs, several altcoins are primed for their own breakouts. Render (RNDR), and (FET) are currently leading the way.

$RNDR - a crypto success story

$RNDR is a monster among the alts. Year to date, $RNDR has managed a gain of more than 1100%. These gains have come in three main waves. A first wave of 550% took $RNDR sharply out of the bear market, and then a retrace followed by another surge took the price a further 220%, and then finally, the latest wave has been ongoing since mid-August, which has taken the price another 280% higher to a price of $4.73. 

The all-time-high was made in November of 2021 at $8.79, so it is looking likely that $RNDR will break this at some point during the current bull market.

Source: Trading View

Looking at the chart above it can be seen that $RNDR has just broken out of a long term W pattern, which has been in the making since early February of this year. A retest of the top trend line could be likely, followed by a continuation to the upside. 

$FET - the ai front runner is the front runner for the ai crypto niche in this crypto bull market so far, and has put on 650% in gains since the beginning of 2023. Although its own upward movement began in early November, and measured from there, it has experienced around 1000% gains.

Source: Trading View

The chart for $FET shows that it has also arrived at the top of its own W pattern, and also some strong resistance. Breaking the confluence of these two major resistance points would be extremely bullish for $FET. If a break and confirmation are successful, look for $FET to head up to its previous high of $1.20, achieved in the last crypto bull market.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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