- Chilean price suggests a bearish outlook, but a rally from critical levels at $ 0.46 or $ 0.37 could fuel another bull run.
- The Verasity price is consolidating in a bull flag pattern, indicating a 75% surge soon.
- Kelver price also suggests its bull rally will continue as it consolidates into a bullish pennant formation.
Bitcoin price is nowhere near the year-to-date returns from altcoins like Chiliz, Verasity and Kelver. Despite an increase of 2,260%, 2,880% and 877%, respectively, these cryptocurrencies point to an imminent continuation of the parabolic runs.
Chiliz price could rally again if these critical levels persist
Chiliz price is consolidating in a descending triangle pattern, representing a bearish technical formation. This setup predicts a 47% decline if two barriers of demand collapse.
The first support that could revive Chiliz’s massive bull run is the 78.6% Fibonacci retracement level at $ 0.46. If that barrier collapses, the 61.8% Fibonacci retracement level at $ 0.26 could give buyers plenty of time to build up steam and raise the CHZ price for another bull run.
To invalidate the bearish scenario, Chiliz price must close above $ 0.58.
CHZ / USDT 6-hour chart
However, if bears triumph, the target would be $ 0.26. A breakdown of this level could trigger a 20% retracement on the 200 Simple Moving Average (SMA) at $ 0.21 on the 6-hour chart.
The Verasity price ensures a 77% upturn
The Verasity price rose nearly 340% in four days from March 12, forming a flagpole. Shortly after the altcoin hit a local peak at $ 0.02, it entered a consolidation that created the flag. During this phase, VRA price formed a series of lower highs and lower lows creating a parallel descending channel.
This setup is a continuation pattern and is forecasting a 77% recovery. This is the height of the flagpole added to the breakout point at $ 0.019. With this goal in mind, the VRA is $ 0.034.
VRA / USDT 4 hour chart
In the event of a spike in selling pressure resulting in a critical closing price below $ 0.01, the bullish outlook will be nullified, triggering a drop in the Verasity price. If so, the VRA could fall 35% to 0.008.
Kelver price was preparing for a bullish rise
The Kelver Prize also showed the formation of a continuation pattern known as a bullish pennant. KLV rose 620% between March 5th and 11th, forming a flagpole. The cryptocurrency then consolidated into a pennant where it produced a series of lower highs and higher lows.
This technical formation is forecasting an upswing of 86%. This is the height of the flagpole added to the breakout point at $ 0.13. With this goal in mind, KLV is $ 0.25.
KLV / USDT 4-hour chart
If the Kelver price drops below the lower trendline of the pennant at $ 0.10, it will jeopardize the uptrend. Here, a spike in bearish pressure could trigger a 37% sell-off to $ 0.06, which coincides with the four-hour 200-hour simple moving average (SMA).