Will The Altcoins SNX and ENS Price Skyrocket 100% This Week?

The post Will The Altcoins SNX and ENS Price Skyrocket 100% This Week? appeared first on Coinpedia Fintech News

As the Bitcoin and Ethereum price aims for a bullish week, the altcoins siphon additional momentum in the market for a quick jump. With a trend reversal anticipation in Synthetix and the bull run gaining momentum in ENS, the buyers expect a massive jump this week.

Following the Ethereum ETFs approvals, the altcoins are on a bullish roll as the sentiments improve to fuel trend momentum. In this recovering market, the SNX and ENS prices project a potential bullish surge for a moonshot this week. 

Let’s take a technical look at their price chart and determine the chances of a surge this week. 

ENS Price Aims $28 Break For 60% Upside

With a massive jump of almost 80% last week, the ENS price jump makes a bullish engulfing candle in the 1W chart. Further, the bull run in the altcoin undermines the bearish influence noticed last month. 

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As the Ethereum Naming Service price surpasses the 23.60% Fibonacci level, the buyers challenge the $28 supply zone. With a bullish breakout, the extended uptrend could surpass the 50% Fibonacci level at $41.58. 

Optimistically, the buyers can reach the $50 psychological mark by the end of this week if the momentum is sustained. 

Morning Star in SNX Price Soon To Challenge $4 Zone

Amidst the broader market bull run, the Synthetix altcoin siphons additional momentum to kickstart a recovery rally. With a 17% price jump last week, the SNX price action completes a morning star pattern in the 1W chart. 

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With this recovery, the trend reversal chances in altcoin has increased significantly. An extended recovery this week will challenge the $5 supply zone for a breakout run. 

Will These Altcoins Explode This Week?

With the increasing likelihood of a bullish breakout, the altcoin prices are ready for a massive jump beyond the critical resistances this week. Therefore, the sideline traders and the long-term HODLers can witness relief and increased demand this week.