By CCN: With numerous bullish breakouts on the longer timeframe, the crypto bull market is growing stronger by the day.
We’re not just talking about bitcoin. On the contrary, the disbelief rally of the king of cryptocurrencies may be on its last legs. This gives other large-cap cryptos the opportunity to step into the limelight. We did our research and discovered that TRON, Stellar, and Ethereum Classic offer some of the best setups that can generate massive gains in a short period of time.
TRON Looks Incredibly Strong from the Macro Perspective
TRON’s mighty rally over the last few weeks has officially ended its 12-month long downtrend. The cryptocurrency demolished $0.028 resistance in May 2019. This triggered the breakout from a large inverse head-and-shoulders pattern on the weekly chart. The structure has a very high success rate. In other words, most inverse head-and-shoulders breakouts result in massive trend reversals.
Technical trend reversal for TRON as the cryptocurrency breaks out of accumulation | Source: TradingView
Currently, TRON’s breakout rally appears to be fading. That makes sense considering that the weekly RSI is close to overbought conditions. So if you’re interested in opening a fresh long, wait for the cryptocurrency to retest $0.028 as support. If bulls hold that level, TRON will target $0.050.
Take note: $0.050 is a heavy resistance but if TRON punches through it, $0.070 becomes an easy target.
Stellar Closely Trails TRON
Following the footsteps of TRON is Stellar. The market is also painting a large inverse head-and-shoulders pattern on the daily chart. While it has yet to break out of the pattern, it is threatening to do so soon.