Weekly chart showcase: Potential for double-digit gains in M, IP, PUMP, SKY, and POL altcoins

In the ever-evolving world of cryptocurrencies, we take a closer look at some significant developments in the market.

Sky Protocol, a well-known player in the crypto space, has seen its SKY token trading at $0.07454 as of September 5. However, the daily candlestick close under $0.06886 could indicate a potential reversal in gains. The token's resistance lies at $0.07882, while support is found at $0.06025. If Sky Protocol experiences a downtrend, it could find support at this lower level.

Meanwhile, Pump.fun, another digital asset, is making waves. Its Relative Strength Index (RSI) is trending upward, and the Moving Average Convergence Divergence (MACD) is flashing green histogram bars above the neutral line. These technical indicators support the likelihood of further gains for Pump.fun, with its all-time high target currently set at $0.005199. The token is trading at $0.2770 at the time of writing.

Two key support levels for Pump.fun are S1 at $0.004500 and S2 at $0.004137. The token is currently ranging between resistance at $0.2964 and S1 at $0.2500. Another support level can be found at S2 at $0.2309.

When it comes to promising trading platforms, besides the giants like Bitcoin and Ethereum, there are several others worth mentioning. Libertex, eToro, and OKX are all platforms with potential for significant short-term gains. Libertex offers a large selection of coins and advanced trading tools, while eToro allows trading over 70 digital currencies with low fees and leverage options. OKX is known for its low trading fees, a broad product range including NFTs, and fast transactions, though it lacks a German license.

However, it's important to note that coins like Pepenode, a deflationary meme-coin with an innovative virtual mining system, are also considered to have high growth potential but come with higher risk.

The cryptocurrency market is also influenced by Bitcoin dominance. Since June 27, Bitcoin dominance has been in a downward trend and is currently at 58.69%. If this dominance remains stable below the 60% resistance, altcoins could continue to gain as capital rotates and inflows from retail and institutional investors increase.

In conclusion, while the market presents opportunities, it's crucial for investors to stay informed and make informed decisions based on the latest developments and technical indicators.

Weekly chart showcase: Potential for double-digit gains in M, IP, PUMP, SKY, and POL altcoins