With Bitcoin's dominance declining, the altcoin market is experiencing a boost. Terra Classic and Compound stand out with their impressive weekly performances.
Terra Classic (LUNC)
LUNC recently broke out from a descending triangle pattern it was trapped in for over two years. After breaching the descending resistance line at $0.0001262, the token surged to $0.0001442 before pulling back to retest its breakout level. Currently, LUNC trades around $0.0001317. If it reverses from the current level and reclaims $0.0001442, it could ignite a new rally, targeting the next resistance levels at $0.00026 and $0.00033.
Compound (COMP)
Compound also managed to break out of a long-standing descending triangle, starting from $75.50. After reaching $80.76, COMP returned to its breakout zone and is trading near $76.80. If COMP manages to rise above $81.67, a new rally could ensue, targeting $102.76. A sustained move could see COMP reaching as high as $174, representing a 126% increase from current levels.
Final Thoughts
With successful retests, LUNC and COMP demonstrate potential for significant gains. As Bitcoin's dominance wanes, the altcoin market is gaining renewed strength, offering exciting opportunities for traders.
With successful retests, LUNC and COMP hold potential for further rises. As Bitcoin dominance decreases, the altcoin market gains new strength, presenting exciting opportunities for traders.
