BeInCrypto breaks down among the largest altcoin movers and shakers from the earlier week. Will their momentum proceed?
Throughout the week of Feb 15 -22, these 5 altcoin picks rallied probably the most:
- Pundi X (NPXS) – 206%
- OKB (OKB) – 188%
- Kucoin Token (KCS) – 180%
- Holo (HOT) – 178%
- Ravencoin (RVN) – 152%
Largest Altcoin Gainers
NPXS has elevated significantly for the reason that starting of the 12 months, however the upward motion seems extraordinarily overextended and the value might quickly attain a prime.
Whereas the rise for OKB seems equally parabolic, the coin appears to be at an earlier stage of its bullish impulse relative to NPXS.
KCS isn’t near reaching its all-time excessive value but however is approaching an essential long-term resistance space.
Just like NPXS and OKB, the rise for HOT appears fully parabolic.
NPXS has elevated considerably since Dec. 23, 2020, when it was buying and selling at a low of $0.0001546. Thus far, it has moved upwards by 1,900%, reaching an all-time excessive value of $0.0031 on Feb. 22. The rise has taken NPXS all the best way to rank 86 based mostly on its market capitalization.
Technical indicators are bullish. The MACD, RSI, and Stochastic oscillator are growing. None of them have generated any bearish divergence.
Nevertheless, the upward transfer has turn into fully parabolic, devoid of any construction. As well as, NPXS appears to be within the fifth and ultimate wave of a bullish impulse (proven in black under) that started with the aforementioned Dec. 23 low.
NPXS is at the moment on the 1.61 Fib extension discovered at $0.027, which might act as the highest. If not, the following probably space could be discovered at $0.039 (2.61 Fib extension). NPXS is anticipated to achieve a prime quickly and start a corrective motion.
OKB has been transferring upwards since December 2018, however the fee of improve accelerated considerably on Jan. 23, 2021. At the moment, OKB was buying and selling at $5.13. Since then, OKB has elevated by 370% to achieve an all-time excessive of $23.80 on Feb. 22. The rise took it to rank 61 based mostly on its market capitalization.
Regardless of the almost parabolic improve, the MACD, RSI, and Stochastic oscillator are nonetheless bullish, suggesting that the pattern can also be bullish.
As well as, the motion in 2020 (highlighted in pink) seems very very like a running flat correction. Vital upward actions typically comply with these corrections.
Regardless of the potential of a short-term lower, it appears seemingly that OKB is in a long-term bullish wave three. This wave has a possible prime goal of $28.54.
KCS elevated considerably over the previous week, transferring from a low of $2.08 to a excessive of $6.95. This improve took KCS above the $4.60 resistance space, which had beforehand been in place since 2018. The rise took it to #98 in market capitalization.
The subsequent closest resistance space is discovered at $8.42 (0.382 Fib retracement degree measuring from the all-time excessive value of $21.38). Technical indicators within the weekly time frame are bullish, supporting the continuation of the upward motion.
Nonetheless, the earlier resistance space at $4.60 is now prone to act as help. It’s doable that KCS will return and validate this degree earlier than resuming its upward motion.
HOT has been transferring upwards with power since breaking out above the $0.001 resistance space on Feb. 10, 2020. Since then, HOT has elevated by a large 308%, reaching an all-time excessive value of $0.0042 on Feb. 20. The rise took it to #95 based mostly on its market capitalization.
Regardless of technical indicators nonetheless being bullish, HOT has reached the 1.61 exterior Fib retracement degree at $0.004, so it’s doable that it’s going to appropriate within the short-term earlier than probably resuming its upward motion.
RVN has been growing by 1,933% since Jan. 28, 2020. This took it to #51 based mostly on its market capitalization. On Feb. 20, RVN reached an all-time excessive value of $0.292 however it has decreased barely since.
An eventual steep correction is anticipated for the reason that fee of improve appears unsustainable.
Presently, RVN has simply reached the 0.382 Fib retracement degree at $0.186 and initiated a slight bounce.
If the extent doesn’t handle to help the value, the following help would seemingly be discovered at $0.152.
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