- Despite the overall bearish trend in the markets, some cryptocurrencies are showing hidden bullish divergence.
- Decentraland (MANA) is closely consolidating within a narrow range but maintaining an ascending trend, with levels around $0.5 being crucial for a potential upswing.
- Pyth Network (PYTH), Sei (SEI), Fantom (FTM), and Ethena (ENA) are all displaying signs of potential bullish breakouts.
The cryptocurrency markets appear to be stuck in a bearish trend, but certain altcoins are exhibiting hidden bullish divergence.
In the meantime, the markets may experience a brief upswing, presenting an opportunity to accumulate some of these promising cryptocurrencies.
Decentraland (MANA)
Decentraland, one of the overlooked NFT tokens, once ignited a massive bullish momentum within the entire crypto space. Along with SAND, the MANA price revitalized the NFT sector, leading to the emergence of many intriguing coins.
Currently, the price is closely consolidating within a very narrow range but has maintained an ascending trend.
Pyth Network (PYTH)
Pyth Network has been struggling within a deep bearish trend and has reached below its crucial support zone. Although the bulls are showing some strength, the bears seem equally capable of restricting excessive bullish activity.
As long as the prices trade below $0.51, the token can be considered to be in an accumulation zone.
Sei (SEI)
Sei has gained significant attention recently, with its price soaring by more than 600% to reach above $1. However, the rally turned in favor of the bears for a while, and the token has been trading sideways.
This indicates that bulls and bears are maintaining equal strength as they defend their respective resistance and support levels. Following tremendous compression, the SEI price may break out and begin a new uptrend soon.
Fantom (FTM)
Fantom’s price has been trading within an expanding rising channel, and after defending the lower support zone, it triggered a fresh rise.
Despite a recent downturn, the bulls have shown vigor, indicating the possibility of a solid upswing. The price is quite close to $1, and a slight bullish push could take the levels above this region.
Ethena (ENA)
After facing a significant pullback from its highs, the ENA price traded within a falling wedge. Following a breakout, the levels have risen to some extent. However, the price is currently undergoing a small pullback, indicating that the token is approaching the end of its retracement phase. Beyond this, a steady rise may be on the horizon, potentially lifting the ENA price back towards its highs.
While the overall crypto market sentiment remains bearish, these five altcoins are showing signs of hidden bullish potential. Decentraland (MANA), Pyth Network (PYTH), Sei (SEI), Fantom (FTM), and Ethena (ENA) are all displaying specific price patterns and levels that could signal the beginning of a fresh upswing.
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