3 Little-Known Altcoins That Can Give Serious Gains

7 December 2022, 14:00 GMT+0000
Updated by Geraint Price
7 December 2022, 14:00 GMT+0000
In Brief
  • POKT broke out from a descending resistance line.
  • KMD created a triple bottom pattern.
  • NMR reclaimed the $14 resistance area.
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Pocket Network (POKT), Numeraire (NMR) and Komodo (KMD) are three altcoins that are showing bullish signs in various time frames. If the bullish formations are confirmed, they could become the top gainers in the upcoming weeks.

While a crypto winter has been in place for nearly a year, a few altcoins still show bullish signs. While crypto investors are not likely to see an altcoin season soon, this does not mean that there are no altcoins in the entire cryptocurrency market that will outperform Bitcoin (BTC).

POKT Leads Altcoins With Break out From 203-Day Resistance

The POKT price has followed a descending resistance line since May 31. More recently, the line caused a rejection on Sept. 6 (red icon), leading to a low of $0.037 on Nov. 14. 

Despite the drop in the rest of the crypto market, the POKT price has increased since. It broke out from the resistance line on Dec. 6. The breakout was combined with an RSI breakout above 50, increasing its legitimacy. At the time of the breakout, the line had been in place for 203 days.

If the upward movement continues, the closest resistance area would be at $0.132. 

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Because the line had been in place for a long period of time and due to the RSI breakout, the POKT price trend is likely to be bullish.

POKT Price Breakout
POKT/USDT Daily Chart. Source: TradingView

KMD Price Creates Triple Bottom Pattern

Since May 10, the KMD price has created a triple bottom pattern (green icons) above the $0.18 horizontal support area. The pattern was also combined with bullish divergence in the RSI (green line), further increasing its legitimacy. 

KMD has been facing resistance from a descending resistance line since July. A breakout from it would likely lead to an upward movement toward the $0.32 resistance area, an increase of 60% from the current price. 

Conversely, a KMD weekly close below the $0.18 area would invalidate this bullish KMD price forecast.

KMD Price Resistance
KMD/USDT Three-Day Chart. Source: TradingView

Numeraire Price Makes Another Breakout Attempt

The NMR price decreased below a descending resistance line since the end of March. The line caused numerous rejections so far, the most recent on Dec. 6 (red icon). NMR has decreased over the past 24 hours after being rejected by the resistance line (red icon).

However, the NMR price reclaimed the $14.30 horizontal area during this time while the daily RSI moved above 50.

If the $14.30 support area holds, NMR could make another attempt at breaking out. Conversely, a close below this area would likely lead to a new yearly low.

NMR Price Resistance
NMR/USDT Daily Chart. Source:TradingView

For BeInCrypto’s latest crypto market analysis, click here.

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Disclaimer

BeInCrypto strives to provide accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. You comply and understand that you should use any of this information at your own risk. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.