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:
- OKB (OKB) : 72.32%
- Nexo (NEXO) : 45.28%
- THORChain (RUNE) : 36.00%
- Zcash (ZEC) : 34.84%
- Huobi Token (HT) : 30.81%
- The Graph (GRT) : 29.66%
- Solana (SOL) : 27.37%
OKB
On Oct 26, the OKB value rebounded and created a really lengthy decrease wick (inexperienced icon) within the course of. This was an indication of sturdy shopping for strain, because of the 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 through the September highs.
Since Oct 19, OKB has elevated by 71%.
The subsequent closest resistance space is discovered at $39.
NEXO
NEXO has been growing because it made the next low on Sept 22. On Oct 19, it managed to interrupt out above the $2 resistance space.
This was vital 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 could be discovered at $20.
ZEC
ZEC has been shifting upwards since breaking out from a descending wedge on Oct 1. The descending wedge is often thought of a bullish sample, thus a breakout was anticipated. After this, it bounced on the $113 space (inexperienced icon) and commenced 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 prime 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 growing 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 improvement, 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 of bullish.
GRT
GRT has been growing 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.
Presently, it’s within the means of doing the identical with the $0.90 space. This might enable it to maneuver again in the direction of the September highs close to $1.05.
SOL
SOL has been growing since Sept 21. On Oct 3, the upward transfer got here to a brief halt after SOL was rejected by the $170 resistance space.
Nonetheless, SOL managed to interrupt out on Oct 19 and has been growing at an accelerated price since.
If it reaches a brand new all-time excessive, which appears probably, the subsequent resistance could possibly 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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