After a challenging three-day downturn, the cryptocurrency market embarks on a recovery trajectory this Friday. Leading the resurgence are Sui, Render, and Fantom. These digital assets serve as a beacon of potential gains in a fluctuating market environment.
Amidst the cryptocurrency landscape, SUI stands out with its impressive chart performance. This asset's price consistently trends upward. In bearish phases, it experiences minimal decline; in bullish phases, it outshines its peers. Recently, SUI adjusted down to the 0.618 Fibonacci level while maintaining its commitment to an ascending trendline. Its weekly chart vividly illustrates a parabolic uptrend.
Holding above the 2.618 level, alongside a robust weekly candle, underscores significant buying interest in this top-tier coin. Future targets are clearly delineated in the chart.
For RENDER, the weekly chart presents a promising outlook. A crucial hold above the $6.68 horizontal support indicates robust underlying market structure. Had this level failed, a drop to $4.44 seemed plausible. However, an ascending trendline remains intact, offering potential for further price advancement. Fibonacci levels in the chart highlight the prospective targets.
Fantom (FTM) displays the most significant gains this Friday, soaring by over 12%. Despite this, FTM bulls face considerable challenges. Recent upward movements suggest the possibility of establishing a higher low. To break the persistent downtrend, bulls must conquer the descending trendline and achieve a local high. Such a feat is feasible in mature bull markets.
Meanwhile, the Stochastic RSI, situated at the chart's bottom, provides hopeful signals. The indicator lines nearing a cross, if maintained above the 20.00 level, could propel $FTM to a critical local high.
Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.