The Magnificent Seven: CRV, KSM, FIL, SOL, XMR, OKB, VET — Biggest Gainers from May 28th to June 4th

The Magnificent Seven: CRV, KSM, FIL, SOL, XMR, OKB, VET — Biggest Gainers from May 28th to June 4th


In this article, I will take a look at the seven altcoins that increased the most over the past seven days (May 28th - June 4th). Note these are top gainers in top 100, there are other projects that have gained more that have smaller market caps.  Those altcoins were - 

 

 

CRV

CRV has been increasing since reaching a low on May 23. On June 1, it managed to break out from a descending resistance line that had been in place since May 13 and proceeded to reach a high of $0.274. 

However, it was rejected and has been decreasing since. 

The most likely support area that could create a high low is found at $1.90. This is the 0.5 Fib retracement support level of the entire upward move.

 

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KSM

On May 19, KSM reached a low of $158.75 and bounced. After creating a higher low, it reclaimed the $295 area, validating it as support once more. 

The upward movement continued until a high of $487.3 was reached on June 3. This amounted to an increase of 205% since the bottom. However, KSM dropped sharply afterwards. 

The rejection occurred right at the 0.618 Fib retracement resistance area. As a result, the token is now attempting to find support and create a higher low.

 

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FIL

FIL has been decreasing alongside a descending resistance line since reaching an all-time high price of $238.38 on April 1. It initiated a bounce on May 19, so far managing to reach a high of $97.99. 

However, it has yet to break out or even reach the aforementioned descending resistance line. Until it does so, we cannot consider the trend bullish. If a breakout transpires, the next resistance area would be found at $140. 

 

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SOL

SOL reached an all-time high price of $53.58 on May 18 and began to decrease. The downward movement continued until a low of $19.10 was reached on May 23. 

The token has been moving upwards since, so far managing to reach a high of $41.52, on June 3. This amounted to an increase of 118% from the lows. While SOL was rejected, it is attempting to create a high low near the $32.50 horizontal support area.

 

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XMR

XMR reached an all-time high price of $517 on May 17 and began a downward movement. The decrease continued until a low of $171.48 was reached on May 10. 

The token has bounced since, but has failed to clear the $304 resistance area. This is the 0.382 Fib retracement level of the most recent downward movement. XMR has instead created a double top pattern and began to decrease. It has yet to create a higher low, after the fall.

 

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OKB

OKB has been moving downwards since May 3, when it reached an all-time high price of $44.35. While it initially bounced at a long-term ascending support line on May 19, it proceeded to break down two days later. 

OKB has increased on June 2 and June 3, but has yet to reclaim the support line from which it broke down. Until it does, the trend is considered bearish.

 

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VET

VET decreased in the period from April 17 to May 23, falling from an all-time high price of $0.278 to a low of $0.066. It has been moving upwards since a latter, reaching a high of $0.152, on June 4.

The movement above the April 24 low of $0.14 (red line) confirms that this is a corrective structure rather than it being a bearish impulse.

However, the price action is not bullish yet. A reclaim of the $0.162 horizontal resistance area is required in order for it to be considered so.

 

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What do you currently think about the market? Are any of these projects your favourites? What projects will make the cut next week? Leave a comment and let's get some dialougue going! If you like this type of content, consider following me here and leaving a tip. 

Also if you are on Twitter, why not give me a follow and start some conversations? You can find me here - https://twitter.com/dizzlecrypto.

Until next time, stay classy!

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pheonixdown-dee
pheonixdown-dee

I am an avid crypto enthusiast. Feel free to get in contact with me on - IG - https://www.instagram.com/crypto_dizzle/ Twitter - https://twitter.com/DizzleCrypto


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