6 Cryptocurrencies — Algorand (ALGO), Hedera (HBAR), Cardano (ADA), XRP, Stellar (XLM), and Chainlink (LINK) — Are Popping Their Falling Wedge Bullish Patterns

Just weeks ago, the charts were suggesting the possibility of something significant happening as six major cryptocurrencies — Algorand (ALGO), Hedera (HBAR), Cardano (ADA), XRP, Stellar (XLM), and Chainlink (LINK) — were all forming the classic falling wedge bullish technical pattern that has a history of explosive price lifts.

Just weeks ago, we highlighted the possibility of something significant happening as six major cryptocurrencies — Algorand (ALGO), Hedera (HBAR), Cardano (ADA), XRP, Stellar (XLM), and Chainlink (LINK) — were all forming the classic falling wedge bullish technical pattern that has a history of explosive price lifts.

Well today, those wedges have popped upward, and the entire market is off to the races. Bitcoin is now trading above $100,000 and many altcoins are suddenly blasting off after a couple of months of sideways price action. Not only is this a confirmation of the technicals it may be the start of a massive altcoin season.

Let’s unpack what has happened, how the six coins are performing, and what may happen next in this rapidly developing crypto cycle.

At a Glance: Market Summary

Coin-by-Coin Price Analysis

1) Hedera (HBAR)

Current Price: ~$0.225

Price Analysis:

Hedera has broken out of its falling wedge pattern convincingly and confirmed a trend reversal that had been taking pace over the last 3 months. The breakout was spiky and on rising volume and moved HBAR above $0.20. This has both psychological and technical significance as $0.20 represented a “huge” resistance level during prior rallies.

Why It Matters: Hedera has the credibility with large enterprise partners such as Google, IBM, and Dell. The recent integration into ESG reporting and ongoing usage of Hedera for tokenizing carbon credits could propel it to be a leader in sustainable blockchain applications in the future.

What’s Next: The next zone to watch is $0.22 – $0.25. If it passes through strength above this range, we could see an extended move toward $0.30 + depending on Bitcoin dominance continuing to fall.

2) Algorand (ALGO)

Price Analysis

ALGO has finally gotten out of a long consolidation as we now see a typical falling wedge breakout. ALGO has bottomed around $0.17 during this consolidation, and has broken resistance at $0.22. This breakout comes right off of a period of silent accumulation of ALGO, indicating that the strong hands are in control of this market.

Why It Matters: Algorand has a deep network of integrations with global institutional initiatives, which includes central bank digital currency program pilots. We are also starting to see that Algorand is gaining traction in DeFi and tokenized real estate use cases.

What’s Next: Now that ALGO is sitting on top of $0.24 for support, it should attempt a again break $0.29, which was the high in February. After $0.29 we would look for $0.31 to be a breakout confirmation that could start a rally for a multi-month period.

3) Cardano (ADA)

Price Analysis:

Cardano is beginning to show bullish strength. This token is finally gaining some strength with higher highs and higher lows, confirming the bullish reversal.

Why it Matters: The current ongoing work with scalability (Hydra), interoperability (Mithril), and privacy (Midnight) can make it a serious competitor in the next phase of blockchain infrastructure. Additionally, developer activity is increasing, and TVL for Cardano DeFi continues to grow.

What’s Next: With a clear run to $0.90, a breakout above $1.00 places ADA back in the discussion for one of the top Layer-1 platforms. Watch the $1.10 region – this is an important inflection point in the longer term chart.

4) Ripple (XRP)

Price Analysis:

XRP has exploded from its multi-month wedge with serious momentum over the last 24 hours. After years of legal headwinds, the token is now beginning to regain attention as one of the only regulatory clear digital assets in the U.S.

Why It Matters: Ripple’s ongoing expansion into Asia, relationships with Central banks, and dominance in the cross-border payment space are now building very powerful foundational elements for XRP. The breakout is showing renewed confidence from investors that XRP’s use case is indeed real and expanding.

What’s Next: Expect significant resistance at $2.80 – $3.00, where many retail traders may look to take profit. However, if it can close above that weekly close, this could set XRP up for a parabolic move into its all-time high area.

5) Stellar Lumens (XLM)

Price Analysis:

XLM has followed a similar structure as XRP over the last several months and the breakout was perfectly timed. The significant volume confirmed the breakout above $0.28, the next major hurdle is around $0.35 which previously capped other rallies and is the top of its wedge structure.

Why It Matters: Stellar continues to serve the unbanked