Date: Fri, Dec 06, 2024, 03:27 PM GMT
The cryptocurrency market continues its bullish trajectory, highlighted by Bitcoin’s (BTC) historic milestone of crossing $100,000. Alongside this achievement, altcoins are beginning to shine as BTC dominance recedes, now standing at 55.34%, down from its recent high of 61.53%.
Amid this momentum, Harmony (ONE) and Kadena (KDA) are drawing significant attention due to their strong weekly performances and promising setups for major breakouts.
Harmony (ONE)
Currently trading at $0.034, Harmony (ONE) is sitting within a strong resistance zone of $0.030 to $0.039, a level that has capped the token’s price for nearly two years. This range has proven to be a significant barrier, but the sustained accumulation within this zone indicates growing bullish momentum.
If Harmony manages to break out from this resistance, the next target lies at $0.14, representing a potential 360% gain from the current price. With the Relative Strength Index (RSI) showing strong upward momentum, the chances of a breakout appear high.
However, traders should watch for volume confirmation to ensure the move is sustainable.
Kadena (KDA)
Kadena is trading at $1.76, near a descending trendline that has limited its price movement for nearly two years. This trendline is a critical resistance level, and breaking above it could signal the start of a new bullish phase.
If KDA successfully surpasses its immediate resistance levels at $2.04 and $2.48, the next major target would be $7.80, a significant 342% increase from its current price.
Are Big Rallies on the Horizon?
Both Harmony (ONE) and Kadena (KDA) are showing early signs of bullish momentum, with critical resistance levels within striking distance. A confirmed breakout from these levels could open the door to impressive gains, fueled by increased interest in altcoins as Bitcoin’s dominance declines.
For Harmony, breaking the $0.039 level could initiate a rally toward $0.14, while Kadena could see a surge to $7.80 if it clears its $2.48 resistance. With market sentiment on the rise, these assets are worth watching closely.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.