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 have been:
- Oasis Community (ROSE): 92.26%
- Civic (CVC) : 88.09%
- Fantom (FTM) : 84.95%
- Quant (QNT) : 84.62%
- IOTA (IOTA) : 80.76%
ROSE
On Aug 23, ROSE was rejected by a descending resistance line that had beforehand been in place for the reason that March 14 all-time excessive value.
Nonetheless, it regained its footing after and managed to interrupt out on Aug 31. It has been transferring upwards at an accelerated fee since.
At the moment, it’s trying to interrupt out from the $0.206 resistance space. That is each the 0.786 Fib retracement resistance stage and a horizontal resistance space. Doing so would seemingly trigger ROSE to maneuver in the direction of a brand new all-time excessive value.
The MACD and RSI are each transferring upwards, supporting the legitimacy of the upward transfer.
CVC
Just like ROSE, CVC made an try at breaking out from a descending resistance line on Aug 24. After the preliminary rejection, it broke out on Sept 3.
Two days later, it managed to succeed in a brand new all-time excessive value of $0.98. Nonetheless, it decreased sharply the identical day.
At the moment, CVC is searching for help above the $0.60 horizontal space, which beforehand acted as resistance. Doing so would seemingly enable for the continuation of the upward motion.
FTM
On Aug 30, FTM broke out from the $0.705 horizontal resistance space. It validated it as help the subsequent day (inexperienced icon) and has been transferring upwards since.
After reaching a brand new all-time excessive value on Sept 3, FTM accelerated its fee of improve. On Sept 6, it reached a brand new all-time excessive value of $1.34.
The following resistance space is discovered at $1.45. That is the 1.61 exterior Fib retracement resistance stage when measuring the newest drop.
Each the MACD and RSI are transferring upwards.
QNT
QNT has been transferring upwards quickly since July 20. After breaking out from the $180 resistance space on Aug 28, it validated it as help all through the subsequent ten days.
It initiated one other upward transfer on Sept 3 and has reached a excessive of $385 on Sept 6.
Whereas technical indicators are nonetheless bullish, the rally has turn into utterly parabolic, one thing which isn’t sustainable in the long run.
IOTA
IOTA has been transferring upwards since July 20. It created the next low on Sept 2 and accelerated shortly after.
Nonetheless, it was rejected by the $1.88 resistance space and is lowering. That is the 0.618 Fib retracement resistance stage and a horizontal resistance space.
Plainly the rise is a part of the third wave of a bullish impulse. Subsequently, after a drop that may full a fourth wave pullback, one other upward transfer can be anticipated.
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