The cryptocurrency market is regaining momentum as Bitcoin (BTC) holds above $108,000, eyeing a new all-time high. In the past 24 hours, altcoins such as Arbitrum (ARB), Pyth Network (PYTH), and Immutable (IMX) have emerged as top performers, showing strong bullish signals and breaking key technical resistance levels. These digital assets are now in focus as traders assess their potential for further upside in the current recovery phase.
Arbitrum Eyes Breakout Above Key Resistance Zone
Arbitrum (ARB) pulled back slightly by 1% on Monday after surging 18% the previous day. Despite the minor correction, ARB remains in a strong rebound phase, challenging the $0.35 supply zone—a critical resistance level that has capped gains in recent weeks.
The coin has already gained 37% over the past week, reflecting renewed investor confidence. A daily close above the yellow-marked supply zone could trigger a breakout toward the 200-day Exponential Moving Average (EMA) at $0.45, marking a significant milestone in its recovery.
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Technical indicators support the bullish outlook. The Moving Average Convergence Divergence (MACD) generated a bullish crossover on Thursday, with the MACD line crossing above its signal line—typically a sign of strengthening upward momentum. Meanwhile, the Relative Strength Index (RSI) has climbed to 58, breaking above the 50 midpoint, which indicates increasing buying pressure and reduced bearish dominance.
However, if ARB fails to sustain momentum above $0.35, a retest of the 50-day EMA at $0.34 is likely. Traders will be closely watching price action around this zone for confirmation of trend continuation or potential reversal.
Pyth Network Targets Breakout Above 50-Day EMA
Pyth Network (PYTH) is another standout performer, rising 10.85% on Sunday before pulling back nearly 1%. This follows a robust 30% weekly gain after PYTH hit a year-to-date low of $0.080 on June 22.
Currently, the asset is consolidating near $0.117—the level of the 50-day EMA—where it has encountered resistance. A successful breakout above this dynamic barrier could open the path toward $0.131, the monthly high.
The MACD shows growing bullish momentum, with green histogram bars expanding above the zero line. This suggests that buying interest is accelerating and supports the potential for further gains.
Additionally, the RSI has recovered sharply from oversold territory, moving above 50 to reach 51. This shift reflects improved market sentiment and confirms that selling pressure is weakening.
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A failure to close above the 50-day EMA could lead to renewed selling pressure, potentially pushing prices back toward the $0.080 yearly low. For now, however, the momentum remains cautiously optimistic.
Immutable Tests Long-Term Trendline Resistance
Immutable (IMX) declined by 1% on Monday after rebounding from the $0.50 level—the same point as its 50-day EMA. The recent 30% weekly rally brought IMX back to a key long-term resistance trendline formed by highs from May 11, May 23, and June 11.
A decisive daily close above both this trendline and the 50-day EMA could propel IMX toward $0.58, its monthly high. Such a move would confirm a structural shift from bearish to bullish market control.
The MACD supports this potential uptrend. A buy signal was triggered on Wednesday when the MACD line crossed above its signal line. Furthermore, new green histogram bars emerging from the zero line indicate fresh bullish momentum building in the market.
The RSI has also improved significantly, rising from deeply oversold levels to reach the neutral midpoint of 50. This suggests that downward pressure has eased considerably and buyers are regaining control.
If the current rebound loses steam, however, a drop back toward the year’s low of $0.33 remains possible. Traders should monitor volume and candlestick patterns closely for early signs of continuation or rejection.
Core Keywords:
- Arbitrum (ARB)
- Pyth Network (PYTH)
- Immutable (IMX)
- cryptocurrency market recovery
- altcoin price analysis
- breakout resistance levels
- EMA and MACD signals
- RSI momentum indicators
Frequently Asked Questions (FAQ)
Q: Why is Arbitrum (ARB) gaining attention now?
A: ARB is gaining traction due to a strong technical rebound, supported by bullish MACD crossovers and rising RSI. A potential breakout above $0.35 could target $0.45 if momentum holds.
Q: What is Pyth Network’s (PYTH) next price target?
A: If PYTH breaks above its 50-day EMA at $0.117, the next target is $0.131—the monthly high—driven by strengthening momentum and improving sentiment.
Q: Can Immutable (IMX) sustain its upward movement?
A: IMX shows promising signs with MACD buy signals and RSI recovery. A confirmed close above the long-term trendline and $0.50 EMA is needed to validate sustained bullish momentum.
Q: How does Bitcoin’s performance affect these altcoins?
A: With BTC holding above $108,000, overall market sentiment remains positive. Strong Bitcoin performance typically boosts investor confidence in high-potential altcoins like ARB, PYTH, and IMX.
Q: What technical indicators should I watch for these coins?
A: Focus on MACD for trend changes, RSI for overbought/oversold conditions, and EMA levels ($0.35 for ARB, $0.117 for PYTH, $0.50 for IMX) as key support/resistance zones.
Q: Are these gains sustainable in the long term?
A: While short-term momentum is strong, sustainability depends on broader market trends, on-chain activity, and macroeconomic factors. Always conduct independent research before investing.
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