The crypto market has seen a positive shift recently, with Bitcoin (BTC) breezing past the $104,000 milestone and Ethereum (ETH) showcasing a 60% gain in the last month to reach $2,550.
This bullish wave has also carried over to altcoins, including lesser-known ones like Walrus (WAL), which has seen an increase of over 38% in the last 30 days. However, according to chart signals, this performance could just be the beginning.
Technical analysis highlights a striking visual correlation between the trends of Walrus (WAL) and Solayer (SOLAYER), another trending crypto token recently.
On the left side of the comparative chart, Solayer had encountered a horizontal resistance zone around $1.27 last March. As Solayer broke this key resistance, completing the typical structure of an ascending triangle, the token’s price experienced a surge of over 162%. It rallied from the breakout level at around $1.30 to a peak at approximately $3.35.
On the right side of the same chart, we observe Walrus (WAL) currently forming an almost identical pattern: an ascending triangle with higher lows and a tested resistance at around $0.67. This technical structure, closely followed by experienced traders, is often a precursor to a major breakout.
If the WAL token manages to break the key resistance level of $0.70, similar to SOLAYER before, the fractal scenario suggests a price target between $1.80 and $1.90. This leap would represent a potential gain of over 160%.
This technical momentum fuels speculative interest among market participants, especially in a generally bullish context for altcoins. The evolution of Walrus (WAL) could quickly attract the attention of informed investors in the crypto ecosystem.
