While many leading cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), remain in red territory on a weekly basis, the privacy coins Monero (XMR), Venice Token (VVV), and PHALA (PHA) have posted substantial increases.<\/p>\n
Here\u2019s what could trigger further rallies and their next potential targets.<\/p>\n
The asset\u2019s price recently soared above $620 before retracing to the current $598. Ali Martinez was among the many analysts commenting on XMR after its pump, saying it appears to be pressing against the ascending triangle resistance on the hourly chart. He believes<\/a> that an hourly close above $602 would confirm the breakout and set the stage for a jump toward $630.<\/p>\n FOUR | Crypto Spaces noted<\/a> that XMR \u201cwent from boring sideways action to a proper breakout attempt.\u201d The X user argued that the trendline that kept pushing the valuation down has finally broken, and buyers\u2019 next challenge is to hold above the breakout zone around $540. If they defend it, this could open the door to a move up to $675, they predicted.<\/p>\n Crypto Rover and veteran trader Peter Brandt also chipped in. The former claimed<\/a> the privacy coin is on the verge of a massive three-year breakout and expects a strong rally soon. For his part, Brandt said<\/a> XMR\u2019s recent chart structure reminds him of silver before it exploded to nearly $125 at the start of the year.<\/p>\n However, not all are so bullish. Doctor Profit noted<\/a> that the asset\u2019s open interest has hit a historic high and warned that the last time XMR\u2019s OI jumped this much, the price crashed 66% in just 20 days.<\/p>\n Venice Token has soared roughly 12% over the past week and is currently trading around $25.70. It boasts a market capitalization of more than $1.25 billion, making it the 71st-biggest cryptocurrency.<\/p>\n According to Martinez, VVV recently consolidated inside a channel on the four-hour chart. He suggested<\/a> that a sustained close above $25 would signal a break from that range and send the price to $27 or even $29.<\/p>\n Not long ago, nordin.eth claimed<\/a> VVV is \u201cgetting squeezed\u201d near long-term support and described the $21.50-$22 zone as the level bulls need to defend. The analyst sees $25.50 as the first hurdle for a more substantial increase, with the next target at $30.77.<\/p>\n \u201cOne clean breakout and the chart starts looking very different. Bears better hope that resistance holds,\u201d he added.<\/p>\n Martinez also turned<\/a> his attention to PHALA (PHA), a relatively under-the-radar privacy coin that has gained approximately 5% over the past week and is currently trading at about $0.056.<\/p>\n Several hours ago, it surged past $0.06, with the analyst claiming that a 30-minute sustained close above $0.066 could result in a further rally toward $0.073. As mentioned, though, the price headed south instead.<\/p>\n The post Trending Privacy Coins XMR, VVV, and PHA on the Run: Can They Keep Pumping?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" While many leading cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), remain in red territory on a weekly basis, the privacy coins Monero (XMR), Venice Token (VVV), and PHALA (PHA) have posted substantial increases. Here\u2019s what could trigger further rallies and their next potential targets. XMR\u2019s Potential The asset\u2019s price recently soared above $620 […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-242106","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/242106"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=242106"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/242106\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=242106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=242106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=242106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}VVV and PHA<\/h2>\n