BeInCrypto breaks down the 5 greatest altcoin movers and shakers from the earlier week. Will their momentum proceed this week?
The 5 altcoins that elevated probably the most final week had been:
- Cosmos (ATOM): 28.65%
- Audius (AUDIO): 25.40%
- Avalanche (AVAX): 23.06%
- Curve DAO Token (CRV): 17.47%
- Ren (REN): 14.35%
Since June 20, ATOM has been transferring upwards above a parabolic ascending help line. On Sept 20, it reached a brand new all-time excessive worth of $44.80.
It’s possible that ATOM is within the fifth and ultimate wave of a bullish impulse. The excessive was made at a confluence of Fib resistance ranges between $45.70-$47.22. The realm is created by the 1.61 size of waves 1-3 (orange) and the 1.61 exterior Fib retracement degree (black).
Subsequently, it’s doable that ATOM has reached an area prime.
REN has been transferring upwards since July 20. After initially combating the $0.64 resistance space, it managed to interrupt out on Aug 31.
REN returned to validate the $64 space as help twice on Sept 7 and 13 (inexperienced icons) earlier than resuming its upward motion.
The closest resistance space is discovered at $1.22. That is the 0.618 Fib retracement resistance degree. A breakout above this zone may set off a pointy upward transfer towards a brand new all-time excessive worth.
Nonetheless, REN appears to be lowering in direction of the $0.64 help as soon as once more.
AUDIO has been falling since Aug 17 after it reached a excessive of $4.07. It was rejected by the $4.05 resistance space and created a protracted higher wick (crimson icon).
After a low of $1.81 was reached on Sept 7, AUDIO bounced and broke out from a descending resistance line within the course of.
The breakout is supported by the rising MACD and RSI.
Subsequently, if AUDIO manages to carry on above the $2.45 help space, it may provoke one other upward transfer towards the $4 degree.
On Aug 24, AVAX decreased after reaching a excessive of $58.98. This led to a low of $32.23 on Sept 7.
Nonetheless, AVAX elevated after reaching help and managed to interrupt out above the $50 resistance space on Sept 11. This led to a brand new all-time excessive of $76.27 on Sept 19.
The excessive was made proper on the 1.61 exterior Fib retracement resistance degree when measuring the newest portion of the drop. It is a possible space for a prime to be reached.
Moreover, each the RSI and MACD have generated bearish divergences. Subsequently, it’s doable that AVAX will drop in direction of the $50 space as soon as once more.
CRV has been transferring upwards since July 27 when it broke out from a descending resistance line.
Initially, it struggled to maneuver above the $2.45 resistance space however was profitable in doing so on Sept 14.
Following this, it reached a excessive of $3.44 on Sept 16 earlier than falling.
At present, CRV is making an attempt to validate the $2.40 space as help. Doing so may trigger it to bounce and transfer towards the $3.65 resistance space.
The MACD continues to be optimistic and the RSI is above 50, suggesting that the development continues to be bullish.
All the knowledge contained on our web site is printed in good religion and for normal data functions solely. Any motion the reader takes upon the knowledge discovered on our web site is strictly at their very own danger.