BeInCrypto breaks down the 5 largest altcoin movers and shakers from the earlier week. Will their momentum proceed?
The 5 altcoins that elevated probably the most final week are:
- Revain (REV) : 95.72%
- The Sandbox (SAND) : 60.40%
- Tezos (XTZ) : 46.22%
- Solana (SOL) : 30.40 %
- Arweave (AR) : 29.88%
REV has been rising since July 20, when it was buying and selling at a low of $0.005. Thus far, it has reached a excessive of $0.023 on Aug. 30.
Technical indicators are bullish as each the RSI and MACD are rising, though the previous is in overbought territory.
The closest resistance ranges are foundat $0.027 and $0.033. The previous is the 0.382 Fib retracement resistance degree and the latter is each the 0.5 Fib retracement degree and a horizontal resistance space.
SAND has been shifting upwards since breaking out from a descending wedge and validating it as help on Aug 25.
On Aug 29, it reclaimed the $0.80 horizontal resistance space and proceeded to succeed in a brand new all-time excessive worth of $1.20 the following day. Nonetheless, it’s within the course of of making an extended higher wick and probably a shooting star candlestick.
Technical indicators within the each day timeframe are nonetheless bullish. That is particularly evident by the RSI motion above 70 (inexperienced icon).
The closest resistance space is discovered at $1.375. That is the 1.61 exterior Fib retracement resistance degree.
XTZ has been shifting upwards since July 20. In a span of 39 days, it elevated by a full 195%. This led to a excessive of $6.18 on Aug 29.
Nonetheless, XTZ was rejected by the 0.618 Fib retracement resistance degree and has decreased barely.
Regardless of the drop, each the RSI and MACD are nonetheless bullish. Nonetheless, reclaiming this degree is required to ensure that the pattern to be thought of bullish.
SOL has been shifting upwards since July 20. It managed to succeed in a brand new all-time excessive worth of $82 on Aug 21. The excessive was made proper on the 1.61 exterior Fib retracement resistance degree.
After a slight lower, it resumed its upward motion on Aug 25 and proceeded to succeed in a brand new all-time excessive worth of $101.96 on Aug 30.
Whereas there’s a potential bearish divergence growing within the RSI, the indicator continues to be rising alongside the MACD. The following resistance space is discovered at $118.50.
AR had been shifting upwards since July 20. It managed to interrupt out on Aug 15 and proceeded to succeed in a excessive of $36.16 on Aug 18. After a lower that continued for six days, AR bounced significantly and reached a brand new all-time excessive worth of $50 on Aug 29.
Just like SOL, there’s a bearish divergence growing within the RSI.
If a drop happens, the $33 space is prone to act as help. This identical space beforehand acted as resistance on Aug 29.
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