Home Altcoin Solana (SOL) Approaches All-Time High Territory — Top Weekly Altcoin Gainers

Solana (SOL) Approaches All-Time High Territory — Top Weekly Altcoin Gainers

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BeInCrypto takes a have a look at the seven altcoins that elevated essentially the most over the previous seven days, from Oct 16 to 22.

These altcoins are: 

  1. OKB (OKB) : 72.32%
  2. Nexo (NEXO) : 45.28%
  3. THORChain (RUNE) : 36.00%
  4. Zcash (ZEC) : 34.84%
  5. Huobi Token (HT) : 30.81%
  6. The Graph (GRT) : 29.66%
  7. Solana (SOL) : 27.37%

OKB

On Oct 26, the OKB worth rebounded and created a really lengthy decrease wick (inexperienced icon) within the course of. This was an indication of robust shopping for stress, as a result of size of the wick. 

The rise accelerated on Oct 19 and OKB broke out from a descending resistance line the subsequent day. This confirmed that the earlier downward transfer had come to an finish. After this, OKB moved above the $24 space, which was the resistance degree reached throughout the September highs.

Since Oct 19, OKB has elevated by 71%. 

The subsequent closest resistance space is discovered at $39.

NEXO

NEXO has been rising because it made a better low on Sept 22. On Oct 19, it managed to interrupt out above the $2 resistance space. 

This was essential for the reason that space had been in place since August. The breakout indicated that the earlier correction was full. 

The subsequent closest resistance space is discovered at $2.58. It’s each a horizontal resistance space and the 0.5 Fib retracement resistance degree. If NEXO manages to maneuver above it, there are just about no extra resistances till the $4 area.

RUNE

Just like OKB, RUNE simply broke out above a descending resistance line. Nonetheless, not like OKB, it has but to maneuver above the $11.75 resistance space, which is created by the August highs. 

Whereas the breakout from the resistance line indicated that the correction is full, the rise is anticipated to speed up as soon as RUNE strikes above the $11.75 space. 

On this case, the subsequent resistance can be discovered at $20.

ZEC

ZEC has been shifting upwards since breaking out from a descending wedge on Oct 1. The descending wedge is generally thought-about a bullish sample, thus a breakout was anticipated. After this, it bounced on the $113 space (inexperienced icon) and started to speed up. 

Extra importantly, ZEC moved above the 0.618 Fib retracement resistance degree on Oct 20. This was essential for the reason that 0.618 Fib resistance degree usually acts as a high throughout bounces. Reclaiming this degree means that ZEC is starting a brand new upward rally.

ZEC is anticipated to speed up as soon as ZEC manages to interrupt out above this resistance. 

HT

HT has been rising since Sept 5 after it bounced and created an extended decrease wick (inexperienced icon). The rebound prompted it to reclaim the $7.80 horizontal space. 

Whereas this can be a bullish growth, there are quite a few resistances left to clear, starting with the $11.75-$13.15 space, created by horizontal and Fib ranges. 

Till HT manages to clear these ranges, the pattern can’t be thought-about bullish.

GRT

GRT has been rising since breaking out from a descending resistance line on Oct 1. This was an indication that the downward transfer had come to an finish. 

After this, GRT reclaimed the $0.76 space and validated it as assist. 

At present, it’s within the strategy of doing the identical with the $0.90 space. This might permit it to maneuver again in direction of the September highs close to $1.05.

SOL

SOL has been rising since Sept 21. On Oct 3, the upward transfer got here to a short lived halt after SOL was rejected by the $170 resistance space.

Nonetheless, SOL managed to interrupt out on Oct 19 and has been rising at an accelerated fee since. 

If it reaches a brand new all-time excessive, which appears seemingly, the subsequent resistance may very well be discovered at $277. That is the 1.61 exterior Fib retracement resistance degree. This Fib degree is usually used to seek out the upper resistances when costs are at all-time highs. 

For BeInCrypto’s newest Bitcoin (BTC) evaluation, click here.

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