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The total crypto market capitalization excluding Bitcoin breached the threshold of $1 trillion on Monday. This rally has seen many tokens break through key resistance levels, spurred by renewed investor interest and anticipation of an upcoming altcoin season. Coins like VeChain, DYDX, and Axelar have experienced notable gains, with some showing double-digit growth percentages. These movements signal increasing market confidence and suggest that 2024 could be a prime period for altcoin investments, as traders and investors position themselves ahead of a potential big market explosion.

Here’s a closer look at some top altcoins and their recent performance:

Axelar (AXL) Set for Breakout: Signs Point to Rally Toward $1

Axelar's (AXL) price has risen 16.50% in the past week, showing strong bullish momentum. The coin is currently trading between $0.74 and $0.94. From the 10-day moving average of $0.79, AXL is approaching the next resistance at $0.94. A breakout from this level could push AXL toward the second resistance at $1.13, potentially marking a 21% increase. The RSI at 35.66 and Stochastic at 16.28 suggest that the coin is oversold and may rebound. If AXL surpasses the resistance at $0.94, it could continue its rally, aiming for the next resistance level at $1.13. The positive outlook for the crypto market may further boost Axelar's upward movement.

VeChain’s Impressive Surge Points to Potential Breakout Ahead

VeChain (VET) has surged significantly in the past week, gaining over 40%. The price has been moving between $0.0206 and $0.0290, approaching the nearest resistance level at $0.0322. A break above this resistance could see it reaching the next resistance at $0.0405, potentially rising by more than 30%. The 10-day simple moving average is above the 100-day average, indicating upward momentum. The low stochastic value suggests that the coin is oversold, hinting at a possible price increase. With altcoin season on the horizon and a global crypto bull run anticipated, VeChain may be set for substantial growth.

DYDX Poised for Breakout as Altcoin Season Looms

DYDX has surged over 30% in the past week, currently trading between $0.98 and $1.38. The 10-day moving average sits above the 100-day, signaling a bullish trend. With a low RSI of 34.78 and a stochastic value around 15, the coin appears oversold, hinting at potential growth. If DYDX breaks through the nearest resistance at $1.53, it could climb toward the next level at $1.94. This move would represent a significant percentage gain. As the altcoin season approaches and the crypto market gains momentum, DYDX may be positioned for substantial upside.

Aptos (APT) Poised for Breakout Amid Altcoin Bull Run Expectations

Aptos (APT) has seen significant upward movement, with its price increasing by over 50% in the past week and more than 44% in six months. Currently trading between $8.59 and $12.37, APT is approaching its nearest resistance at $13.83. The 10-day moving average is above the 100-day, indicating bullish momentum. With the Relative Strength Index near 50, there’s room for growth before hitting overbought territory. If momentum continues, APT could test the second resistance level at $17.60, potentially yielding an additional 40% gain. The anticipated altcoin season may further fuel this rise, positioning Aptos as a promising asset in the upcoming crypto bull run.

Conclusion

In summary, the cryptocurrency market is showing strong bullish signs, with total market capitalization excluding Bitcoin (BTC) breaching the $1 trillion mark. Several altcoins, including VeChain (VET), DYDX, Axelar (AXL), and Aptos (APT), have experienced impressive growth, aligning with expectations of an upcoming altcoin season. These gains, coupled with the anticipation of a crypto bull run, present potential opportunities for investors. Catzilla ($CATZILLA), a meme coin with a mission to promote financial inclusion and transparency, is also emerging as a notable player in this landscape.

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