Bitcoin Magazine will analyze last week’s prime 5 altcoin winners to see if their momentum can proceed or not?
Last week’s 5 greatest altcoin winners have been:
On August twenty third, ROSE was rejected by a descending resistance line that fashioned from the all-time excessive of March 14th.
After that, nevertheless, he regained his place and was in a position to escape on August 31. Since then, the price has risen quickly.
It is at the moment making an attempt to break the USD 0.206 resistance space. This is each a 0.786 fib retracement resistance stage and a horizontal resistance vary. This might assist ROSE obtain new all-time highs.
MACD and RSI are each rising, which helps the continuation of the uptrend.
(*5*)
Daily ROSE / USDT Chart | Source: TradingView
Similar to ROSE, CVC was rejected by the descending resistance line on Aug. 24. The price then consolidated and broke out on September third.
Two days later, the price hit a brand new all-time excessive of USD 0.98. However, it fell sharply on the identical day.
Currently, CVC is making an attempt to discover assist above the $ 0.60 space that beforehand acted as resistance. This can enable the price to proceed its upward motion.
Daily CVC / USDT Chart | Source: TradingView
On August 30th, FTM broke above the horizontal resistance space of $ 0.705. The price confirmed it as assist the subsequent day (inexperienced symbol) and has been rising since then.
After reaching a brand new ATH on September 3, FTM accelerated its ascent. On September 6th, it hit a brand new all-time excessive of $ 1.34.
The subsequent resistance is at $ 1.45. This is the exterior fib retracement resistance at 1.61 that measures the latest drop.
Both MACD and RSI are rising.
Daily FTM / USDT Chart | Source: TradingView
QNT has grown quickly since July twentieth. After crossing the $ 180 resistance space on August 28, the price confirmed it as assist for the subsequent ten days.
The price began one other upward transfer on September third, hitting a excessive of $ 385 on September 6th.
While the technical indicators stay bullish, the rally has turned utterly right into a parabola, which is unsustainable in the long term.
QNT / USDT each day chart | Source: TradingView
MIOTA has gone up since July twentieth. It hit a better low on September 2 and accelerated shortly thereafter.
However, the price has turned down from the $ 1.88 resistance space and is now bearish. This is the 0.618 fib retracement resistance and the horizontal resistance vary.
It seems to be just like the rise is a part of the third wave of a bullish impulse. Therefore, an extra upward motion could be anticipated after a decline to wave 4.
MIOTA / USDT each day chart | Source: TradingView
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Disclaimer: This article is for informational functions solely, not funding recommendation. Investors ought to analysis fastidiously earlier than going out
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