Despite the bearish market conditions, cryptocurrencies like Internet Computer (ICP), Tellor, and SEI are showing signs of a potential breakout. The total value of the global cryptocurrency market currently stands at $1.67 trillion, with a 24-hour trading volume of $43.87 billion.
Internet Computer (ICP) has managed to find sustainability above the $8.5 mark and has seen a 60% increase in the past week, reaching a new yearly high of $13.77. The decisive break-out from the cup and handle pattern’s neckline resistance on December 30th bodes well for the coin’s future. If the buying momentum continues, the ICP price could reach the potential target of $20.
Tellor (TRB) has risen 2800% since August 2023, thanks to a combination of investor accumulation and the formation of a cup and handle technical pattern. The Fear Of Missing Out (FOMO) among new traders is further fueling the surge in the TRB price. If the buying momentum continues, the TRB price might climb by another 7%, aiming for a target of $285.
SEI Coin price has defied the broader market correction and is rising under the influence of channel patterns. The coin price has seen a 167% increase since the start of the recovery, currently trading at $0.597. If the chart pattern remains intact, the SEI price will continue its upward trajectory, reclaiming higher ground. A potential reversal from this support would surge the price above the $0.636 swing high.
Despite the upswing in the upper boundary of the Bollinger band indicator, investor caution is advised, particularly for Tellor, given the potential for market manipulation. The presented content may include the personal opinion of the author and should not be taken as financial advice.