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The cryptocurrency market made huge gains today after the US CPI remained flat in December, sending Bitcoin soaring past $95,000 in the past 24 hours.
While btc is currently trading around this price, the altcoins that have benefited from it are likely to see more gains.
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The beInCrypto team analyzed three altcoins that show the potential for strong rallies to come.
PUMP
The price of the pump continued to follow Bitcoin closely, showing a strong correlation of 0.96% with the leader of the cryptocurrency market. As Bitcoin maintains its bullish momentum, the altcoin is benefiting from the overall strength of the market. At the time of writing, the pump is trading near $0.00281, reflecting improving short-term investor sentiment.
The technical structure contributes to strengthening the bullish outlook. The pump is currently breaking the cup and handle pattern on the 12 hour chart, which usually indicates a continuation of the trend. This pattern shows a 57.7% upside potential towards $0.00417. A CMF growth above zero confirms the presence of active capital flows. Retesting the $0.00325 level as support will prove the validity of the upside breakout.
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The downside risk remains if momentum loses steam. Failure to hold $0.00325 as support will weaken the bullish pattern and attract selling pressure. In this case, the pump can go down to $0.00212.
Losing this level will invalidate the cup and manicure template and remove recent gains.
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Internet Computer (ICP)
ICP is trading near $3.85, completing a clear inverted head and shoulders formation. This bullish structure often signals trend reversals after a prolonged period of weakness. According to the current structure, the pattern shows a potential 29.75% upside targeting $4.48 if the buying pressure continues.
Look at the discovery of the ICP coin in the last 24 hours, and now focus on turning the $4.00 level into a support zone. Locking this level confirmed the validity of the bullish breakout. The momentum indicators add more confidence as this altcoin approaches a golden cross, which is historically associated with consolidating uptrends and sustained price appreciation.
Risks remain if ICP fails to maintain key levels. Rejection near the $4.00 level could take the price below $3.75. This move will put the support level at $3.45 at risk. If this level is lost, the whole bullish pattern will be invalidated, opening a bearish appetite towards $3.10 with renewed selling pressure.
Celestia (TIA)
The TIA has formed a cup and handle pattern, which is a bullish structure that indicates a possible continuation of the trend after the price of Bitcoin rises. The altcoin traded near $0.60 and is approaching a breakout zone. This formation expects an increase of 38.2%, with the technical target increasing towards $0.82 if the general market conditions remain supportive.
Momentum indicators reinforced this expectation. The Liquidity Flow Index rose from the neutral level, showing increased buying pressure. If the flows continue, this could push the TIA beyond $0.65 and $0.67. The conversion of these levels into support will confirm the validity of the bullish breakout and strengthen the short-term upside potential.
Downside risks persist if sentiment changes. A switch from long to short could pull the TIA up to the $0.53 level, a previously tested support. If it cannot maintain this level, the pattern will be invalidated, exposing the coin to more losses and increasing the possibility of a decrease towards $0.48.
