BeInCrypto breaks down some of the biggest altcoin movers and shakers from the previous week. Will their momentum continue?

During the week of  April 5 – 12, the biggest altcoin gainers were:

KCS has been increasing parabolically since the beginning of the month. So far, it has done so by 270%. 

So far, it has managed to reach a high of $20. This is only slightly below the all-time high of $21.30 reached in Jan. 2018. 

There is some weakness developing, visible in the form of bearish divergence in both the RSI & Stochastic oscillator. 

Therefore, some rejection could occur once HOT reaches the ATH area. This would also make sense since the upward movement has not retraced since $4. 

Therefore, a breakout above the ATH area on the first try would be unusual.

BTG was subject to a very rapid increase last week, reaching a high of $121.35. 

The upward move took it to the long-term resistance area of $110, where it was rejected. 

Technical indicators in the weekly time frame are bullish, suggesting that the long-term trend is also bullish. 

However, until BTG manages to break out above this area or gets rejected, the short-term trend direction cannot be determined. 

If BTG gets rejected, the closest support levels are found at $77.8 and $61. 

On the other hand, the next resistance is found at $275.

Similar to BTG, XRP has reached the 0.382 Fib retracement level of the previous downward movement. 

The long-term trend is clearly bullish, with the RSI just moving above 70 and the Stochastic oscillator making a bullish cross. The next resistance area is found at $2.25. 

However, some short-term retracement could occur before the continuation of the upward movement.

BNB has been moving upwards since breaking out from a symmetrical triangle on March 30. 

Since then, it has increased by 112%. 

Technical indicators are bullish, but BNB has reached the $208 resistance area. The 2.61 external Fib retracement creates this. Besides, the rally is completely parabolic. 

The next resistance area is found at $770.

CAKE has been moving upwards since breakout out from the $18 resistance area on April 18. 

It is currently approaching the next resistance area, which is found at $30. This acted as the all-time high on March 18. 

CAKE is expected to reach it.

For BeInCrypto’s latest bitcoin (BTC) analysis, click here.

The post Five Biggest Altcoin Gainers – April 5 – 12 appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

836 +