Please note, that these are projects in the top 100 marketcaps, there are others who have smaller marketcaps that also grew in value. During the week of April 5th to April 12th, these were the biggest altcoin gainers:
- Kucoin Token (KCS) – 170%
- Bitcoin Gold (BTG) – 166%
- XRP (XRP) – 97.5%
- Binance Coin (BNB) – 68%
- PancakeSwap (CAKE) – 65%
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.
What altcoins are you currently eyeing up and why? Who do you think will be the top gainers this week? If you enjoy this sort of content, consider following me and also tipping the article.
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Until next time, stay classy!