These Cryptos are showing signs of impending bullish breakouts

Altcoins are cryptocurrencies that are alternatives to Bitcoin, the first and most dominant digital asset. Altcoins often have different features, use cases and technologies than Bitcoin, and some of them may offer more potential for growth and innovation.

However, not all altcoins are created equal, and some of them may perform better than others in the crypto market. In this article, we will look at three altcoins that are showing signs of impending bullish breakouts, based on technical analysis and fundamental factors.

Fantom is a high-performance, scalable and secure smart contract platform that aims to provide a fast, decentralized and interoperable network for various applications, such as DeFi, gaming and NFTs. Fantom claims to offer near-instant transactions, low fees and high throughput, thanks to its unique consensus mechanism called Lachesis.

Fantom was one of the best performing altcoins in 2023, rising more than 10,000% from its low of US$0.003 in January to its all-time high of US$3.45 in November. Fantom’s price rally has been driven by several factors, such as its growing ecosystem, partnerships, integrations and innovations.

From a technical perspective, Fantom is showing signs of a bullish breakout as it is trading in an important demand zone between US$0.4456 and US$0.4874, where 3,666 addresses have accumulated 674.42 million FTM tokens. Once the sign breaks out of this zone, the FTM price is likely to move higher, with no major resistance in its way. The next target for Fantom is US$0.7990, the upper border of the resistance zone where 7,710 wallet addresses acquired 61.6 million FTM tokens.

Polygon is a layer-2 scaling solution that aims to provide faster, cheaper and more secure transactions for Ethereum and its applications. Polygon uses a network of side chains, also known as child chains, connected to the Ethereum main chain via a secure bridge. Polygon also supports interoperability with other blockchains, such as Bitcoin, Binance Smart Chain and Cosmos.

Polygon has been one of the most popular and common layer-2 solutions in the crypto space, attracting hundreds of projects, developers and users to its platform.

From a technical perspective, Polygon is poised for a bullish breakout as it recovers from its recent decline from the local high of US$0.9831 it reached on November 14. major resistance once Polygon’s native token tackles the US$0.86 level. This level corresponds to the 38.2% Fibonacci retracement level of the decline from its February 18 high of US$1.5675 to its June 10 low of US$0.51212.

Dent is a mobile data and digital identity platform that uses blockchain technology to create a global marketplace for mobile data and services. Dent allows users to buy, sell and donate mobile data packages, as well as access various applications such as eSIM, Dent Voice, Dent Teams and Dent Exchange.

Dent has been one of the most undervalued and overlooked altcoins in the crypto market, despite a large and active user base, a solid business model and a strong vision. Dent has more than 26 million users in 85 countries, who have traded more than 600 million DENT tokens on the platform. Dent also has partnerships with more than 400 mobile operators, such as AT&T, Verizon, Vodafone and Telefonica.

From a fundamental perspective, Dent is showing signs of a bullish breakout, as its supply on exchanges has hit its lowest point in the past 12 months. The benchmark is down to 51.21% of the token’s total supply, while the price continues to rise. This suggests that the holders of DENT tokens are moving them off exchanges and reducing the selling pressure on the market. Dent’s network growth, a key-in-chain metric that helps determine whether an asset’s gains are sustainable, is also increasing along with the price, supporting the rally.

Altcoins are an exciting and diverse segment of the crypto market, presenting various opportunities and challenges for investors and innovators. While Bitcoin remains the king of crypto, some altcoins can outperform it in terms of returns and innovations, especially if they have strong fundamentals, active communities and bullish technicals.