Top 5 Altcoin Winners Last Week, May 16-22 August

Bitcoin Magazine will analyze final week’s high 5 altcoin winners to see if their rally can proceed or not?

Last week’s 5 greatest altcoin winners have been:

1. Avalanche (AVAX): 157.1%
2. Audio (AUDIO): 67.5%
3. NEAR Protocol (NEAR): 61.1%
4. Fantom (FTM): 48.9%
5. Areware (AR): 40.1%

AVAX

AVAX has been rising quickly since July twentieth. It has grown by round 440% in 32 days. That transfer resulted in a excessive of $ 50.27 on August 21.

During the upward transfer, AVAX broke the descending resistance line on August sixteenth after which retook the horizontal resistance space of ​​$ 38 on August twenty first.

Technical indicators present no indicators of weak point despite the fact that the RSI is overbought. The subsequent space of ​​resistance is at $ 56.50, which is close to the all-time excessive.

It is feasible for AVAX to trade in a variety between $ 38 and $ 56.50 earlier than making an attempt to hit new ATH ranges.

(*5*)

AVAX / USDT day by day chart | Source: TradingView

AUDIO

AUDIO has been rising in an ascending parallel channel since June twenty second. It broke out over the channel on August 16 and continued to hit a excessive of $ 4.07 the following day. However, the upper one was not sustained and made a protracted wick on high (pink symbol) and has since moved down.

The rejection and fall confirmed the $ 4.05 horizontal space as resistance.

The major help space is at $ 2.70. This is the extent that beforehand acted as resistance.

In distinction to AVAX, there are indicators of weak point in technical indicators such because the RSI passage beneath 70 and the decrease momentum bar within the MACD histogram.

If the USD 2.70 zone fails to carry, AUDIO is more likely to transfer again in direction of USD 2 and make sure the channel’s resistance line as help earlier than transferring again up.

AUDIO / USDT day by day chart | Source: TradingView

NEAR

NEAR has risen since July twentieth. It hit an area excessive of $ 4.82 on August 19 however was denied for the fifth time by a descending resistance line drawn by the highs.

However, NEAR broke out two days later and hit a excessive of $ 6.59 on August twenty second. The transfer confirmed the $ 6.50 space as resistance. A break above this stage might end in a brand new all-time excessive.

The technical indicators on the day by day timeframe are rising and supporting a breakout.

NEAR is at the moment looking for help after a parabolic surge. The subsequent help is at $ 4.66. That goal is the 0.382 fibonacci retracement help.

NEAR / USDT day by day chart | Source: TradingView

FTM

FTM has risen together with a rising help line from the low on July twentieth. The price of enhance started to speed up on August 16.

On August twenty second, FTM hit a excessive of $ 0.598. However, it seems to have been rejected by the 0.5 fib retracement resistance and did not hit an in depth above it. If he can shut above this resistance, his subsequent goal is $ 0.70.

Conversely, the help line sketched above is at $ 0.46.

Daily FTM / USDT Chart | Source: TradingView

AR

AR has been rising inside an ascending parallel channel since July twentieth. It broke out on August fifteenth. After the channel was confirmed as help three days later (inexperienced icon), AR started to speed up.

This resulted in a excessive of $ 36.16 on August 18th. The excessive didn’t final, nevertheless, and AR fell shortly thereafter, confirming the $ 33 space as resistance.

Currently, AR is looking for help above the 0.382 fib retracement stage at $ 27.60. The subsequent help is at $ 22.40.

AR / USDT 6-hour chart | Source: TradingView

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Disclaimer: This article is for informational functions solely, not funding recommendation. Investors ought to analysis rigorously earlier than making a call. We usually are not chargeable for your funding choices.

SN_Nour

According to Beincrypto

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