The force of Bitcoin's (BTC) uptrend appears to be growing, as the top-ranked digital nugget soared above $40,000 before today. It'south probably safe to say that many investors are completely astounded past the fact that BTC has doubled its value merely a month subsequently breaking through the $20,000 marking.

This suggests that the buying has continued unabated, signaling strong demand at every higher level. This bullish sentiment has pulled several altcoins college, with the full crypto market capitalization extending $1 trillion.

Crypto market data daily view. Source: Coin360

As well-nigh altcoins have simply recently started participating in the rally, they may run upward vertically in the brusk term. The melt-upward stage is ane of the best opportunities to make quick returns, but it is also risky because a vertical rally tends to reject rapidly.

The tokens chosen today are in the early stages of their rally and may have room to run on the upside. Allow'southward await at their fundamental developments and nautical chart structure to determine the tendency and possible upside targets.

XTZ/USD

Tezos has gradually been taking steps in the past few weeks to heave growth. The first was to reduce smart contract gas fees with its Delphi upgrade in November 2020. This was done to attract developers to build applications in the spaces of decentralized finance, collectibles and gaming.

In early December 2020, StableTech launched wrapped Ethereum on the Tezos blockchain, and this could take attracted greater participation from users as the recent sharp increase in gas fees on the Ethereum network complicates matters for traders and DeFi sector participants.

Improving its offering further, Tezos announced the launch of its first NFT platform, dubbed Kalamint, which is expected to go live sometime this month. This will allow users to create and list NFTs on the marketplace priced in XTZ.

Recently, Nisbah Capital, the blockchain subsidiary of Saudi Arabia-based Taibah Valley, collaborated with the Tezos ecosystem equally a corporate banker. This could somewhen heave institutional adoption in the Center East and North Africa region. While the recent developments do expect positive, information technology's important to make up one's mind whether the market is equally enthused with these developments.

XTZ moved up from $one.9505 on January. 3 to an intraday high at $ii.fourscore today, a 43.55% rally inside five days. This up-move has pushed the price to the top of the $1.eighty to $2.85 range the token has been stuck in for the past few months.

Usually, if such a basing pattern breaks out to the upside, information technology indicates accumulation past the bulls. The longer the fourth dimension spent in consolidation, the stronger the rally is likely to exist.

XTZ/USDT daily chart. Source: TradingView

The xx-day exponential moving average ($two.21) has started to plough up gradually and the relative force index (RSI) is in the positive territory, suggesting that the bulls accept a slight advantage.

If the buyers can drive the price above $2.85 and sustain the level for a day, it will suggest the kickoff of a new uptrend, which has a target objective of $3.ninety. If this level is scaled, the XTZ/USD pair could retest the all-time loftier at $4.4936.

However, the pair has turned downward from the overhead resistance today, suggesting selling by the bears near $ii.85. If the price breaks below $2.40, information technology could keep the pair range-bound for a few more than days.

SNX/USD

Its Coinbase list on Dec. xvi, 2020 triggered a rise in Synthetix Network Token (SNX), and the decentralized finance derivatives protocol has built on its strength past extending the up-motion in the by few days.

The protocol completed a major upgrade dubbed Shaula on Dec. 24, 2020, which added Bitcoin as a form of collateral, increasing the potential to boost the Synth supply. Another feature in the upgrade allows users to eolith sUSD equally collateral and short synthetic assets.

During a bull phase, professional traders outperform the markets by executing well-timed entries and exits. While it is difficult for novice traders to do the same, Synthetix is offer users the opportunity to trade alongside experienced portfolio managers on dHEDGE pool. This may take attracted several traders to join the community.

These new features and the strong bullish macro trend in the overall crypto market could be reasons why the total value locked in SNX is near the $2 billion marker.

SNX jumped from an intraday low at $7.154 on Jan. i to an intraday high at $13.38 on Jan. five, an 87% rally inside five days. The token is currently consolidating in a potent uptrend, which is a sign of strength.

SNX/USDT daily chart. Source: TradingView

The bears are currently attempting to stall the uptrend at $13.38, as seen from the long wicks on the candlesticks of the past three days. Yet, the bulls have non given up much footing and accept bought the dips, which shows demand at lower levels.

If the SNX/USD pair does not break below the 38.2% Fibonacci retracement level at $11.002, it volition advise aggressive buying past the bulls. If the buyers can thrust the price above $thirteen.38, the next leg of the uptrend could begin that can reach $sixteen and and then $nineteen.xxx.

Yet, the rally of the past few days has pushed the RSI deep into the overbought territory, which may result in consolidation for a few more than days before the kickoff of the adjacent trending movement.

A break and close below $xi.002 could signal the possibility of a deeper correction to the twenty-day EMA ($8.80).

YFI/USD

Over the past few months, Yearn.finance has teamed upwardly with several notable DeFi projects, and now the team offers high-yield investments that accuse low fees and reduce take chances to customer upper-case letter. While partnership announcements generate an enthusiastic short-term response from traders, they commonly fizzle out because launching new products takes time.

One of the uncertainties that could have been bothering the community was the progress on the second iteration. This was recently addressed by a developer at Yearn who released an update on the development condition.

Yearn.finance founder Andre Cronje released details of a new protocol called "tokenized yield credit." Yet, merely after the launch, a developer warned of an exploit to the protocol. Such delays and warnings could accept kept the risk-averse investors at bay, and this partially explains why YFI'southward price had been relatively brackish for some fourth dimension.

However, on Jan. seven, Binance announced that it would launch staking for YFI, and this move could be the reason for the sharp bump in the DeFi token'due south price.

YFI rallied from an intraday low at $20,381.88 on Jan. 3 to an intraday loftier at $37,185 today, an 82% rally in five days. With the sharp up-move today, the token has broken out of the neckline of an inverted caput-and-shoulders pattern.

YFI/USDT daily chart. Source: TradingView

This bullish setup has a target objective at $55,000, just it is unlikely to exist a straight dash to the upside. The long wick on today's candlestick suggests aggressive selling to a higher place $34,204.24.

The bears may now effort to pull the YFI/USD pair to the neckline of the reversal blueprint. If the cost rebounds off this level, the bulls will over again endeavour to resume the uptrend.

If the pair rises above $37,500, the uptrend could retest the all-time loftier at $43,966.31. If the bulls can propel the price higher up this resistance, the momentum may option up, and that may behave the pair to $50,000 then to $55,000.

This bullish view volition be invalidated if the bears sink and sustain the cost beneath the neckline. Such a move could invalidate the bullish design and pull the cost down to the 20-day EMA ($24,424). The trend may turn in favor of the bears if the $18,000 support cracks.

The views and opinions expressed here are solely those of the author and practice non necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, and you should conduct your own research when making a decision.