Bitcoin Magazine will analyze the seven altcoins that have risen the most in the past seven days to see if their momentum can continue.
These top bullish altcoins are:
ROSE has been on the rise since July 20th. The rate of increase accelerated on August 6th and the token hit a new all-time high of $ 0.365 on September 7th. The high was hit right at the Fibonacci retracement from previous drops.
However, the token made a long wick on top and has fallen since then.
Despite the decline, the technical indicators are still bullish as both the RSI and the MACD are rising.
The next area of resistance is at $ 0.58, the outer fib retracement resistance is at 2.61.
Daily ROSE / USDT Chart | Source: TradingView
FTM has risen rapidly since August 27th. On September 2, it broke above the $ 0.90 resistance area. On September 9, the price hit a new all-time high of $ 1.94.
However, the price created a long wick up and has since moved down.
The key area of resistance is at $ 2.25, the outer Fib retracement level of 2.61 that measures the previous bearish move. The 1.61 Fib level at $ 1.45 is said to serve as support.
Daily FTM / USDT Chart | Source: TradingView
QNT has been rising rapidly since July 20th, the rate of increase slowed in late August, but the token continued to rise on September 4th. However, the price fell on the same day, creating a shooting star candle.
The uptrend has become completely parabolic as shown by the parabolic ascending support line. Additionally, the token has hit the external fib retracement level of 4.61, which usually acts as the high point for an upward move.
QNT / USDT daily chart | Source: TradingView
ALGO has been moving up since it crossed the descending wedge on Aug 10.
So far, ALGO has hit a high of $ 2.49 on September 10th. This corresponds to a gain of 143% over two days. The high came directly from the outer Fibonacci retracement resistance at 1.61.
While the token has been rejected and created a long wick at the top, both the MACD and RSI are still rising.
Daily ALGO / USDT chart | Source: TradingView
IOST has been moving up since price broke across an ascending parallel channel on Aug 10 and confirmed it as support on Aug 17th.
Price then broke above the $ 0.046 resistance area on September 3rd after confirming it as support and creating a very long lower wick on September 7th, IOST started a significant rally and hit a high of $ 0.086 two days later .
Currently, IOST is facing resistance out of the $ 0.083 area. When the price moves above it, the token hits a new all-time high and starts exploring the price. Both the RSI and the MACD continue to rise.
IOST / USDT daily chart | Source: TradingView
On August 30th, ONE broke out above a descending resistance level. On September 7th, the price fell to confirm it along with the $ 0.118 horizontal support area. This creates a long lower wick. The token has grown since then.
MACD and RSI are both rising, which supports the continuation of the uptrend.
ONE was rejected from the $ 0.21 resistance area just before hitting a new all-time high.
Daily ONE / USDT chart | Source: TradingView
NEAR has been rising along with a parabolic ascending support line since July 20th. The rate of surges accelerated on September 7th, leading to a new all-time high of $ 11.88 on September 9th. The high is reached directly at the external fib retracement level of 1.61.
However, NEAR fell sharply following bearish divergence in both the RSI and MACD.
Despite the decline, the bullish structure will persist as long as the parabolic support line is not broken. It currently coincides with the USD 7.40 support area.
NEAR / USDT daily chart | Source: TradingView
Here you can see the altcoin prices.
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
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