Date: Tue, Jan 07, 2025, 09:36 AM GMT
As the cryptocurrency market kicks off the new year, notable upside momentum is being observed among altcoins, driven by Bitcoin’s (BTC) impressive climb from its December 31 low of $92K to its current price near the $102K milestone. This shift has provided a favorable rebound for major altcoins after last month’s correction.
Among these, Qubic (QUBIC) and Clearpool (CPOOL) are coming back on green track and rebounded to near key resistance levels, signaling potential breakout opportunities.
Qubic (QUBIC)
After a strong performance in November, QUBIC experienced a period of correction, forming a flag and pole pattern on the daily chart—a classic bullish technical setup. Over the past week, QUBIC has bounced from its lower wedge support at $0.0000027 and is now trading at $0.000003182, positioned just below the upper resistance trendline of a falling wedge formation on the 4-hour chart.
A breakout above this resistance could ignite another strong rally. The key resistance level to watch is $0.000003464, which, if breached, would confirm a bullish breakout. Beyond this, target levels include $0.0000043 and $0.0000050, representing a potential 57% rally from the current price.
Technical indicators reveal that momentum is starting to shift. The MACD lines appear to be converging toward a bullish crossover, signaling growing upward momentum. Meanwhile, the RSI is currently at 50.59, which is in a neutral zone, showing room for further upward movement without entering overbought territory.
Clearpool (CPOOL)
CPOOL followed a similar pattern to QUBIC, with strong gains in November followed by a correction phase. On the 4-hour chart, CPOOL has been consolidating within a symmetrical triangle pattern, a formation that often precedes a decisive breakout. Currently trading at $0.4143, the token is inching closer to the triangle’s upper resistance trendline.
A breakout from this triangle and a move above of $0.4684 resistance would confirm a bullish move, potentially leading to further gains. The next price targets include $0.52 as the first major resistance after the breakout and $0.59, marking a 42% upside potential from the current price.
Technical indicators are showing signs of a potential bullish shift. The MACD is currently neutral but beginning to signal a possible bullish crossover, suggesting that momentum may soon favor the bulls. Meanwhile, the RSI stands at 44..92, indicating ample room for upward movement without nearing overbought conditions.
What’s Ahead?
Both QUBIC and CPOOL are approaching critical levels that could determine their next moves. With Bitcoin leading the market higher, altcoins like these are well-positioned to benefit from renewed bullish sentiment. Traders should closely monitor the key resistance levels and technical indicators to confirm potential breakouts and subsequent rallies.
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