Stratis (STRAX) Reaches New Yearly High
Over the weekend, the cryptocurrency market saw significant gains, with Stratis (STRAX), Band Protocol (BAND), and Bitcoin SV (BSV) leading the way. STRAX broke through a horizontal resistance area, BAND broke through a descending resistance trendline, and BSV is approaching a key resistance level.
The price of STRAX has been on the rise since September, reaching a new yearly high of $1.22 today. This upward movement also resulted in a breakout above the $0.85 horizontal resistance area.
Anbesa100, a well-known cryptocurrency trader, accurately predicted this increase and breakout back in September. The daily trading volume for STRAX has reached a 7-month high, currently standing at $577 million.
BAND Clears Long-Term Resistance
BAND had been under a descending resistance trendline since its all-time high in April 2021. However, last week it broke out from this trendline that had been in place for 910 days. BAND is currently one of the top gainers among cryptocurrencies ranked by market capitalization.
If the increase continues, BAND could reach the $3.20 resistance area, which is 130% above its current price. However, if BAND fails to sustain this increase, it may drop by 25% and validate the descending resistance trendline at $1.15.
Bitcoin SV Concludes Crypto Gainers
Bitcoin SV (BSV) has seen an increase in price alongside an ascending support trendline since June. It recently bounced off this trendline on September 11 and October 9. The price is now approaching the $40 horizontal resistance area, which has been in place since July.
A daily close above the $40 resistance area could lead to a 50% increase to $55. However, if BSV is rejected from the $40 area, it may experience an 11% decrease to the ascending support trendline at $33.
Hot Take: Cryptocurrency Market Sees Weekend Gains
The cryptocurrency market experienced significant gains over the weekend, with STRAX, BAND, and BSV leading the way. STRAX reached a new yearly high, while BAND cleared long-term resistance and BSV approached a key resistance level. These increases are attracting attention from traders and investors, as they indicate potential further gains in the future. However, as with any investment, there are risks involved, and it’s important to do your own research and make informed decisions. The crypto market is known for its volatility, so it’s crucial to stay updated on market trends and developments.
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