Two altcoins breaking out in crypto bull market

With bitcoin looking to reach new yearly highs, several altcoins are primed for their own breakouts. Render (RNDR), and Fetch.ai (FET) are currently leading the way.

$RNDR - a crypto success story

$RNDR is a monster among the alts. Year to date, $RNDR has managed a gain of more than 1100%. These gains have come in three main waves. A first wave of 550% took $RNDR sharply out of the bear market, and then a retrace followed by another surge took the price a further 220%, and then finally, the latest wave has been ongoing since mid-August, which has taken the price another 280% higher to a price of $4.73. 

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The all-time-high was made in November of 2021 at $8.79, so it is looking likely that $RNDR will break this at some point during the current bull market.

Source: Trading View

Looking at the chart above it can be seen that $RNDR has just broken out of a long term W pattern, which has been in the making since early February of this year. A retest of the top trend line could be likely, followed by a continuation to the upside. 

$FET - the ai front runner

Fetch.ai is the front runner for the ai crypto niche in this crypto bull market so far, and has put on 650% in gains since the beginning of 2023. Although its own upward movement began in early November, and measured from there, it has experienced around 1000% gains.

Source: Trading View

The chart for $FET shows that it has also arrived at the top of its own W pattern, and also some strong resistance. Breaking the confluence of these two major resistance points would be extremely bullish for $FET. If a break and confirmation are successful, look for $FET to head up to its previous high of $1.20, achieved in the last crypto bull market.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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