BeInCrypto breaks down the 5 greatest altcoin movers and shakers from the earlier week. Will their momentum proceed?
The 5 altcoins prime altcoins of final week have been:
Amp (AMP): 26.83%
Quant (QNT): 22.04%
Waves (WAVES): 14.17%
SHIBA INU (SHIB): 11.50%
Theta Gas (TFUEL): 8.07%
AMP has been transferring upwards since Might 23 when it reached a low of $0.023. After an unsuccessful try at transferring above the $0.075 resistance space, it broke out on June 14.
On June 16, AMP reached a brand new all-time excessive of $0.121, simply above the $0.11 Fib exterior retracement stage.
The token has now returned to the $0.075 space as soon as once more., It seems to be validating the extent as help. Thus far, it has fallen by 32% relative to the earlier highs.
However, the pattern might be thought of bullish so long as AMP is buying and selling above this stage.
QNT has been transferring upwards since Might 23, when it rebounded off of a long-term ascending help line.
The upward motion continued till June 17, when QNT reached a brand new all-time excessive of $84.92. It barely failed to achieve the 1.61 exterior Fib retracement stage earlier than falling.
QNT has been transferring upwards since and has reached the earlier all-time excessive resistance space of $64.
Much like AMP, the pattern might be thought of bullish so long as the token is buying and selling above this stage.
On June 12, WAVES bounced from an ascending help line that has been in place because the starting of the yr.
It proceeded to achieve a excessive of $18.97 earlier than falling.
Technical indicators are exhibiting some bullish indicators however not sufficient to substantiate a bullish reversal.
Regardless of this, the bullish construction stays intact so long as WAVES is following this ascending help line.
The closest resistance space is at $23.20.
SHIB has been transferring upwards since June 12, when it reached a low of $0.000055. It broke out from a descending resistance line three days later.
On June 18, it validated the road as help (inexperienced icon).
Nevertheless, the bounce has been weak and there aren’t any clear bullish reversal indicators in place.
A breakdown beneath the road would doubtless take SHIB in the direction of a brand new all-time low whereas the closest resistance is discovered at $0.00015.
TFUEL has been transferring downwards since reaching a brand new all-time excessive value of $0.679 on June 9. All through the lower, it has been following a descending resistance line.
The token has been rejected by this line a number of occasions, most lately on June 21.
The closest help stage is discovered at $0.53. That is the 0.618 Fib retracement help stage when measuring the latest portion of the upward motion.
If TFUEL breaks down, the subsequent help stage could be discovered at $0.47.