SNX Leads the Weeks Altcoin Gainers

SNX Leads the Weeks Altcoin Gainers

Top Performing Altcoins of the Week

If you’re interested in the cryptocurrency market, you’ll be intrigued to know which altcoins have seen the most whole lot of increases this coming week. Altcoin refers to any digital currency that isn’t Bitcoin. Here are the top gainers that have been making waves in the cryptocurrency news:

  • Synthetix (SNX) – 16.47% price increase
  • IOTA – 14.74% price increase
  • Render (RNDR) – 10.07% price increase
  • Stellar (XLM) – 7.67% price increase
  • Astar (ASTR) – 6.01% price increase
  • SNX Price Takes the Lead Between Altcoin Gainers

    SNX has faced a descending resistance line since July 15, resulting in a low of $1.90 on August 31. Nonetheless, the price rebounded and broke out from the resistance line 3 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. Regardless of 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 positive trend pattern that often leads to breakouts. After the  Second bottom, IOTA broke out from a long-term descending resistance line on September 5, indicating the start of a new upward movement.

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    RNDR experienced a downward trend since its yearly high of $2.95 on May 21. Nonetheless, after bouncing back with a long lower wick, RNDR broke out from the resistance line on September 7. Regardless of the breakout, the price has yet to show any whole lot of 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.

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    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. Nonetheless, it still trades below the critical $0.060 horizontal resistance area, which has acted as both resistance and support in the past month.

    Hot Take:

    These altcoins have demonstrated their probable for growth and have caught the attention of the cryptocurrency market. Although while some have experienced recent increases, others are yet to reach their full probable. Keep an eye on these altcoins as they continue to make waves in the cryptocurrency space.

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    Author – Contributor at | Website

    Bernard Nicolai emerges as a beacon of wisdom, seamlessly harmonizing the roles of crypto analyst, dedicated researcher, and editorial virtuoso. Within the labyrinth of digital assets, Bernard’s insights echo like a resonant chord, touching the minds of seekers with diverse curiosities. His talent for deciphering the most intricate strands of crypto intricacies seamlessly aligns with his editorial finesse, transforming complexity into a captivating narrative of comprehension.

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