BeInCrypto takes a take a look at the seven altcoins that elevated probably 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%
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 robust shopping for strain, as a result of size of the wick.
The rise accelerated on Oct 19 and OKB broke out from a descending resistance line the following 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 following closest resistance space is discovered at $39.
NEXO has been rising because it made the next low on Sept 22. On Oct 19, it managed to interrupt out above the $2 resistance space.
This was necessary because the space had been in place since August. The breakout indicated that the earlier correction was full.
The following 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.
Just like OKB, RUNE simply broke out above a descending resistance line. Nonetheless, in contrast to 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 following resistance could be discovered at $20.
ZEC has been transferring 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 started to speed up.
Extra importantly, ZEC moved above the 0.618 Fib retracement resistance degree on Oct 20. This was essential because the 0.618 Fib resistance degree typically acts as a high 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 has been rising since Sept 5 after it bounced and created an extended decrease wick (inexperienced icon). The rebound brought on it to reclaim the $7.80 horizontal space.
Whereas it is 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 development can’t be thought of bullish.
GRT has been rising 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.
At present, it’s within the means of doing the identical with the $0.90 space. This might permit it to maneuver again in direction of the September highs close to $1.05.
SOL has been rising since Sept 21. On Oct 3, the upward transfer got here to a short lived halt after SOL was rejected by the $170 resistance space.
Nonetheless, SOL managed to interrupt out on Oct 19 and has been rising at an accelerated fee since.
If it reaches a brand new all-time excessive, which seems to be probably, the following resistance could possibly be discovered at $277. That is the 1.61 exterior Fib retracement resistance degree. This Fib degree is often used to seek out the upper resistances when costs are at all-time highs.
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