The Magnificent Seven: DOGE, XRP, ZEN, ETC, MKR, BSV, VET – Biggest Gainers from April 9th to April 16th

The Magnificent Seven: DOGE, XRP, ZEN, ETC, MKR, BSV, VET – Biggest Gainers from April 9th to April 16th


In this article, I will take a look at the seven altcoins that increased the most over the past seven days (April 9th – April 16th). Note these are top gainers in top 100, there are other projects that have gained more that have smaller market caps.  

 

These altcoins are:

 

DOGE

DOGE is one of the most mentioned altcoins. It has been increasing parabolically since April 13.

On April 16, it reached an all-high price of $0.298. This measured an increase of 320% in only three days. 

However, DOGE has reached the 4.618 external Fib retracement level. This often acts as the top for upward movements, especially when they become parabolic.

 

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XRP

XRP has been increasing since March 25.

However, it potentially reached a short-term top on April 14. This could have been the top of wave three (orange). The level is found by the 1.61 Fib projection of sub-waves 1-3 (black) 

If the count is correct, XRP is currently correcting. The 0.382-0.5 Fib retracement level at $1.18-$1.36 is expected to act as support. 

 

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ZEN

On April 15, ZEN broke out above the $88 resistance area. It created a significant bullish candlestick and then managed to reach a new all time high of $130 the next day. 

However, ZEN seems to have been rejected by the 1.61 external Fib retracement at $115. It is currently in the process of decreasing. 

Nevertheless, the trend for ZEN seems to be bullish, and another eventual upward move towards the $163 area seems to be the most likely option.

 

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ETC

ETC has increased considerably over the past two weeks. Currently, it has moved above the 0.5 Fib retracement level at $25.26. Previously it had traded below this level since April 2018.

The 0.786 Fib retracement level creates the next closest resistance area at $37.85.

 

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MKR

MKR broke out from a descending resistance line on April 13. Two days later, it proceeded to reach an all-time high price of $4096. 

However, it was rejected by the $3906 area and had been decreasing since. The closest support level is found at $3100.

MKR is currently in the process of validating it as support. 

If so, the next resistance level would be found at $5244.

 

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BSV

BSV has been increasing since breaking out from a descending resistance line on April 6. Currently, it has reached the $370 resistance area but was rejected.

Nevertheless, BSV has broken out from a long-term consolidation pattern. Therefore, a continued upward movement towards $457 and possibly $687 is the most likely option.

 

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VET

VET has been increasing rapidly since initially reaching a new all-time high price on March 8. 

So far, it has moved upwards by 234%. On April 15, it reached a new all-time high price of $0.189. 

However, the rate of increase is parabolic, and VET has already moved above the 4.61 external Fib retracement, a level that often acts as the top.

 

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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, I am currently holding a Bitcoin Giveaway, where you have the chance to win $500 worth of BTC. You can check it out on the pinned message on my Twitter - https://twitter.com/dizzlecrypto.

Until next time, stay classy! 

 


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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