Top Performing Altcoins of the Week
If you’re interested in the crypto market, you’ll be intrigued to know which altcoins have seen the most significant increases this week. Altcoin refers to any cryptocurrency that isn’t Bitcoin (BTC). Here are the top gainers that have been making waves in the crypto news:
SNX Price Takes the Lead Among Altcoin Gainers
SNX has faced a descending resistance line since July 15, resulting in a low of $1.90 on August 31. However, the price rebounded and broke out from the resistance line three days later. This breakout led to a high of $2.56 on September 6, just below the 0.5 Fib retracement resistance level at $2.60. Despite the initial increase, SNX has since fallen, marked by a long upper wick indicating selling pressure.
IOTA, on the other hand, formed a double bottom pattern on June 10 and August 17, which is a bullish pattern that often leads to breakouts. Following the second bottom, IOTA broke out from a long-term descending resistance line on September 5, indicating the start of a new upward movement.
RNDR experienced a downward trend since its yearly high of $2.95 on May 21. However, after bouncing back with a long lower wick, RNDR broke out from the resistance line on September 7. Despite the breakout, the price has yet to show any significant upward movement.
XLM has seen an increase since August 17, bouncing off the $0.11 horizontal support area. Breaking out from the resistance line on September 4, which had been in place for 52 days, XLM has shown positive momentum.
ASTR has been on an upward trend since June 10, following an ascending support line. After validating the line multiple times, most recently on September 5, ASTR has experienced an increase in price. However, it still trades below the crucial $0.060 horizontal resistance area, which has acted as both resistance and support in the past month.
Hot Take:
These altcoins have demonstrated their potential for growth and have caught the attention of the crypto market. While some have experienced recent increases, others are yet to reach their full potential. Keep an eye on these altcoins as they continue to make waves in the crypto space.
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